Energy drink company Monster Beverage (NASDAQ:MNST) will be reporting earnings tomorrow after market close. Here’s what you need to know.
Monster missed analysts’ revenue expectations by 5.6% last quarter, reporting revenues of $1.90 billion, up 2.5% year on year. It was a disappointing quarter for the company, with a miss of analysts’ EBITDA and earnings estimates.
Is Monster a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Monster’s revenue to grow 3% year on year to $1.91 billion, slowing from the 14.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 6 downward revisions over the last 30 days (we track 15 analysts).
Looking at Monster’s peers in the beverages, alcohol and tobacco segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vita Coco’s revenues decreased 3.7% year on year, missing analysts’ expectations by 4.3%, and Coca-Cola reported flat revenue, topping estimates by 2.9%. Vita Coco traded down 3.9% following the results while Coca-Cola was also down 3.1%.
Read our full analysis of Vita Coco’s results here and Coca-Cola’s results here.
Investors in the beverages, alcohol and tobacco segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Monster is up 10.1% during the same time and is heading into earnings with an average analyst price target of $54.80 (compared to the current share price of $54.49).
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