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Monster Beverage Corp (MNST) recently posted their financial results for the fourth quarter of the 2014 fiscal year. The company that is based in Corona, California reported results that were higher than analysts and the market were expecting. They also stated that they would be closing the partnership with The Coca-Cola Company (KO) sometime during the second quarter.
Monster Beverage saw their shares rise by more than 5 percent after the announcement, so that they were trading at a price of $131.49.
The Coca-Cola Company agreed to purchase a 16.7 percent share of Monster Beverage in August, 2014. The former will be paying $2.15 billion in cash to the latter for the stake. Initially, it was expected that the deal in question would be finalized towards the end of 2014 or close to the start of 2015.
Monster Beverage saw their net income rise by 64.7 percent to reach $125.3 million during the most recent quarter, which equates to earnings per share of $0.72. This is compared to the same quarter of the previous year, when the company generated a net income of $76.1 million, which worked out to earnings per share of $0.44 at the time.
The company also saw their sales increase, registering an uptick of 12 percent to reach $605.6 million. This is compared to the same timeframe of a year ago, when the company generated sales of $540.8 million.
Wall Street had expected Monster Beverage to post earnings per share of $0.59 for the fourth quarter, and to generate quarterly sales of $584.46 million.
Rodney Cyril Sacks, the Chief Executive Officer of Monster Beverage, stated that the company was progressing nicely in regards to dealing with transitional problems that might arise as part of the partnership with The Coca-Cola Company that was announced in August, 2014.
Monster Beverage Corp. has been trading between $63 and $143.9 over the past 52 weeks. The company has a market cap of $23.66 billion and a price to earnings ratio of 54.28.
Germaine Hicks
Germaine is an avid sports fan and as such, he decided on his current career path with the idea in mind that he would never, ever miss a Yankee game. Until now, he managed to make good on that promise. As you’ve probably guessed, he’s our go-to sports guy.
