Monster Beverage saw its sales climb 11.1% to $2.11bn in the second quarter of its financial year to 30 June as demand for its various energy drink brands continued to increase.
Operating income jumped 19.8% to $631.6m, despite a hike in operating expenses.
Sales in the company’s Monster Energy Drinks division, which primarily includes the Monster Energy, Reign, and Bang Energy drinks, increased 11.2% to $1.94bn.
The Strategic Brands unit, which primarily includes the various energy drink brands acquired from The Coca-Cola Company, as well as its value-oriented energy brands Predator and Fury, increased 18.9% to $129.9m.
Meanwhile, sales in its Alcohol Brands business, which is comprised of various craft beers, flavoured malt beverages and hard seltzers, decreased 8.6% to $38.0m.
“We achieved record net sales for the second quarter, exceeding the $2.0bn mark for the first time, underscoring the strength of our brands, talent of our team, and continued appeal of our products around the world,” said Hilton H Schlosberg, Chief Executive of Monster Beverage.
“The quarter’s performance also reflects the success of our product innovations, which are resonating strongly with consumers.”
He added: “Increased household penetration and per capita consumption of energy drinks remain positive trends for the category. Our robust pipeline of innovative products remains central to our long-term growth strategy.”
