Monster Beverage (MNST) Stock Gaining on Earnings Beat
NEW YORK (TheStreet) -- Shares of Monster Beverage (MNST) - Get Report are rising higher by 8.89% to $144 in pre-market trading on Friday morning, after the alternative drink company posted better than expected third quarter earnings results.
After the close of trading on Thursday, Monster Beverage reported earnings of 84 cents per diluted share on net sales of $686.7 million for the three month period ending on September 30.
Analysts surveyed by Thomson Reuters had been expecting the company to post earnings of 81 cents per share on revenue of $735.5 million for the 2015 third quarter.
"We are pleased to report good progress on the implementation of our strategic alignment with Coca-Cola (KO) bottlers," Monster CEO Rodney C. Sacks said in a statement.
"We commenced distribution with the Coca-Cola bottler in Germany in early July, and are pleased with the progress in that country. We have entered into a number of distribution agreements for various other international markets served by the Coca-Cola bottler system, which will be implemented over the following months. In the United States, we are seeing continued improvement in distribution," Sacks continued.
Separately, TheStreet Ratings team rates MONSTER BEVERAGE CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
We rate MONSTER BEVERAGE CORP (MNST) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: MNST
data by
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.