Monster Beverage Corp
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
MNST$45.72-4.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-08.
0001410578-25-001620
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-07.
0001104659-25-107944
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 145 previous paragraphs and 143 current paragraphs.
55 unchanged; 65 reworded; 21 added; 21 removed; 4 previous and 2 current paragraphs rearranged.
Tables are not compared: 102 previous and 32 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (21)
Current report
Our net sales were $2.20 billion for the three-months ended September 30, 2025. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $31.8 million for the three-months ended September 30, 2025. Net sales on a foreign currency adjusted basis increased 15.1% for the three-months ended September 30, 2025.
Current report
Net sales were $2.20 billion for the three-months ended September 30, 2025, an increase of approximately $316.2 million, or 16.8% higher than net sales of $1.88 billion for the three-months ended September 30, 2024. Net sales increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $31.8 million for the three-months ended September 30, 2025. Net sales on a foreign currency adjusted basis increased 15.1% for the three-months ended September 30, 2025.
Current report
Net sales for the Monster Energy® Drinks segment were $2.03 billion for the three-months ended September 30, 2025, an increase of approximately $304.1 million, or 17.7% higher than net sales of $1.72 billion for the three-months ended September 30, 2024. Net sales increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had a favorable impact on net sales for the Monster Energy® Drinks segment of approximately $28.7 million for the three-months ended September 30, 2025. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 16.0% for the three-months ended September 30, 2025.
Current report
Net sales for the Alcohol Brands segment were $33.0 million for the three-months ended September 30, 2025, a decrease of approximately $6.8 million, or 17.0% lower than net sales of $39.8 million for the three-months ended September 30, 2024. The decrease in net sales for the three-months ended September 30, 2025 was primarily due to decreased sales of The Beast TMproduct line.
Current report
Net sales for the Other segment were $6.8 million for the three-months ended September 30, 2025, an increase of approximately $0.9 million, or 14.4% higher than net sales of $5.9 million for the three-months ended September 30, 2024.
Current report
Interest and Other Income (Expense), net
Current report
Nine-Months Ended September 30, 2025 Compared to the Nine-Months Ended September 30, 2024**.**
Current report
Net sales were $6.16 billion for the nine-months ended September 30, 2025, an increase of approximately $482.6 million, or 8.5% higher than net sales of $5.68 billion for the nine-months ended September 30, 2024. Net sales increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $30.6 million for the nine-months ended September 30, 2025. Net sales on a foreign currency adjusted basis increased 9.0% for the nine-months ended September 30, 2025.
Current report
Net sales for the Monster Energy® Drinks segment were $5.68 billion for the nine-months ended September 30, 2025, an increase of approximately $485.2 million, or 9.3% higher than net sales of $5.19 billion for the nine-months ended September 30, 2024. Net sales increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $26.9 million for the nine-months ended September 30, 2025. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 9.9% for the nine-months ended September 30, 2025.
Current report
Net sales for the Other segment were $19.2 million for the nine-months ended September 30, 2025, an increase of approximately $0.7 million, or 3.8% higher than net sales of $18.5 million for the nine-months ended September 30, 2024.
Current report
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $186.0 million for the nine-months ended September 30, 2025, an increase of approximately $2.3 million, or 1.2% higher than operating income of $183.8 million for the nine-months ended September 30, 2024. The increase in operating income for the Strategic Brands segment was primarily the result of an increase in net sales.
Current report
Interest and Other Income (Expense), net
Current report
Gross billings for the Monster Energy® Drinks segment were $2.46 billion for the three-months ended September 30, 2025, an increase of approximately $426.5 million, or 21.0% higher than gross billings of $2.03 billion for the three-months ended September 30, 2024. Gross billings increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had a favorable impact on gross billings for the Monster Energy® Drinks segment of approximately $37.8 million for the three-months ended September 30, 2025. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 19.1% for the three-months ended September 30, 2025.
Current report
Gross billings for the Strategic Brands segment were $152.3 million for the three-months ended September 30, 2025, an increase of $23.8 million, or 18.5% higher than gross billings of $128.5 million for the three-months ended September 30, 2024. Gross billings for the Strategic Brands segment increased primarily due to increased sales of our Predator®, Burn®, and Mother® brand energy drinks. Net changes in foreign currency exchange rates had a favorable impact on gross billings in the Strategic Brands segment of approximately $3.0 million for the three-months ended September 30, 2025. Gross billings for the Strategic Brands segment on a foreign currency adjusted basis increased 16.2% for the three-months ended September 30, 2025.
Current report
Gross billings for the Alcohol Brands segment were $33.6 million for the three-months ended September 30, 2025, a decrease of approximately $7.2 million, or 17.7% lower than gross billings of $40.8 million for the three-months ended September 30, 2024. The decrease in gross billings for the three-months ended September 30, 2025 was primarily due to decreased sales of The Beast TM product line.
Current report
Gross billings for the Other segment were $6.8 million for the three-months ended September 30, 2025, an increase of $0.8 million, or 12.8% higher than gross billings of $6.0 million for the three-months ended September 30, 2024.
Current report
Nine-Months Ended September 30, 2025 Compared to the Nine-Months Ended September 30, 2024**.**
Current report
Gross billings for the Monster Energy® Drinks segment were $6.77 billion for the nine-months ended September 30, 2025, an increase of approximately $686.2 million, or 11.3% higher than gross billings of $6.08 billion for the nine-months ended September 30, 2024. Gross billings increased primarily due to increased worldwide sales of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on gross billings for the Monster Energy® Drinks segment of approximately $21.6 million for the nine-months ended September 30, 2025. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 11.6% for the nine-months ended September 30, 2025.
Current report
expenses of $965.3 million for the nine-months ended September 30, 2024. Promotional allowances, commissions and other expenses as a percentage of gross billings increased to 16.2% from 14.6% for the nine-months ended September 30, 2025 and 2024, respectively.
Current report
*Cash and cash equivalents.*At September 30, 2025, we had $2.29 billion in cash and cash equivalents, $286.4 million in short-term investments, and $359.2 million in long-term investments, including certificates of deposit, commercial paper, U.S. treasuries and corporate bonds. We maintain our investments for cash management purposes and not for purposes of speculation. Our risk management policies emphasize credit quality (primarily based on short-term ratings by nationally recognized statistical rating organizations) in selecting and maintaining our investments. We regularly assess the market risk of our investments and believe our current policies and investment practices adequately limit those risks. However, certain of these investments are subject to general credit, liquidity, market and interest rate risks. These market risks associated with our investment portfolio may have an adverse effect on our future results of operations, liquidity and financial condition.
Current report
decrease in deferred revenue, a $6.0 million decrease in accrued compensation, a $5.9 million increase in prepaid expenses and other assets and a $2.4 million decrease in other liabilities.
Removed paragraphs (21)
Previous report
Our net sales were $2.11 billion for the three-months ended June 30, 2025. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $5.0 million for the three-months ended June 30, 2025. Net sales on a foreign currency adjusted basis increased 11.4% for the three-months ended June 30, 2025.
Previous report
Net sales were $2.11 billion for the three-months ended June 30, 2025, an increase of approximately $211.0 million, or 11.1% higher than net sales of $1.90 billion for the three-months ended June 30, 2024. Net sales increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $5.0 million for the three-months ended June 30, 2025. Net sales on a foreign currency adjusted basis increased 11.4% for the three-months ended June 30, 2025.
Previous report
Net sales were $810.2 million for the three-months ended June 30, 2025, an increase of $107.8 million, or 15.3% higher than net sales of $702.4 million for the three-months ended June 30, 2024, in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean. Net changes in foreign currency exchange rates had an unfavorable impact on net sales to customers in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean of approximately $3.1 million for the three-months ended June 30, 2025. Net sales on a foreign currency adjusted basis in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean increased 15.8% for the three-months ended June 30, 2025.
Previous report
Net sales for the Monster Energy® Drinks segment were $1.94 billion for the three-months ended June 30, 2025, an increase of approximately $194.5 million, or 11.2% higher than net sales of $1.74 billion for the three-months ended June 30, 2024. Net sales increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $4.8 million for the three-months ended June 30, 2025. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 11.4% for the three-months ended June 30, 2025.
Previous report
Net sales for the Alcohol Brands segment were $38.0 million for the three-months ended June 30, 2025, a decrease of approximately $3.6 million, or 8.6% lower than net sales of $41.6 million for the three-months ended June 30, 2024. The decrease in net sales for the three-months ended June 30, 2025 was primarily due to decreased sales by volume of certain craft beers and the Nasty Beast® Hard Tea product line.
Previous report
Interest and Other Income, net
Previous report
Six-Months Ended June 30, 2025 Compared to the Six-Months Ended June 30, 2024**.**
Previous report
Net sales were $3.97 billion for the six-months ended June 30, 2025, an increase of approximately $166.5 million, or 4.4% higher than net sales of $3.80 billion for the six-months ended June 30, 2024. Net sales increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $62.4 million for the six-months ended June 30, 2025. Net sales on a foreign currency adjusted basis increased 6.0% for the six-months ended June 30, 2025.
Previous report
Net sales were $1.50 billion for the six-months ended June 30, 2025, an increase of $104.7 million, or 7.5% higher than net sales of $1.40 billion for the six-months ended June 30, 2024, in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean. Net changes in foreign currency exchange rates had an unfavorable impact on net sales to customers in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean of approximately $57.7 million for the six-months ended June 30, 2025. Net sales on a foreign currency adjusted basis in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean increased 11.6% for the six-months ended June 30, 2025.
Previous report
Net sales for the Monster Energy® Drinks segment were $3.65 billion for the six-months ended June 30, 2025, an increase of approximately $181.0 million, or 5.2% higher than net sales of $3.47 billion for the six-months ended June 30, 2024. Net sales increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $55.6 million for the six-months ended June 30, 2025. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 6.8% for the six-months ended June 30, 2025.
Previous report
Net sales for the Other segment were $12.4 million for the six-months ended June 30, 2025, a decrease of approximately $0.1 million, or 1.2% lower than net sales of $12.5 million for the six-months ended June 30, 2024.
Previous report
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $119.8 million for the six-months ended June 30, 2025, a decrease of approximately $3.9 million, or 3.2% lower than operating income of $123.7 million for the six-months ended June 30, 2024. The decrease in operating income for the Strategic Brands segment was primarily the result of a decrease in gross profit as a percentage of net sales.
Previous report
Interest and Other Income, net
Previous report
Gross billings for the Monster Energy® Drinks segment were $2.30 billion for the three-months ended June 30, 2025, an increase of approximately $257.3 million, or 12.6% higher than gross billings of $2.05 billion for the three-months ended June 30, 2024. Gross billings increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on gross billings for the Monster Energy® Drinks segment of approximately $2.6 million for the three-months ended June 30, 2025. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 12.7% for the three-months ended June 30, 2025.
Previous report
Gross billings for the Strategic Brands segment were $152.0 million for the three-months ended June 30, 2025, an increase of $29.0 million, or 23.5% higher than gross billings of $123.1 million for the three-months ended June 30, 2024. Gross billings for the Strategic Brands segment increased primarily due to increased sales by volume of our Burn®, Predator®, NOS® and Fury® brand energy drinks. Net changes in foreign currency exchange rates had an unfavorable impact on gross billings in the Strategic Brands segment of approximately $0.4 million for the three-months ended June 30, 2025. Gross billings for the Strategic Brands segment on a foreign currency adjusted basis increased 23.8% for the three-months ended June 30, 2025.
Previous report
Gross billings for the Alcohol Brands segment were $39.8 million for the three-months ended June 30, 2025, a decrease of approximately $3.1 million, or 7.3% lower than gross billings of $42.9 million for the three-months ended June 30, 2024. The decrease in gross billings for the three-months ended June 30, 2025 was primarily due to decreased sales by volume of certain craft beers and the Nasty Beast® Hard Tea product line.
Previous report
Gross billings for the Other segment were $6.4 million for the three-months ended June 30, 2025, a decrease of $0.6 million, or 9.2% lower than gross billings of $7.0 million for the three-months ended June 30, 2024.
Previous report
Six-Months Ended June 30, 2025 Compared to the Six-Months Ended June 30, 2024**.**
Previous report
Gross billings for the Monster Energy® Drinks segment were $4.31 billion for the six-months ended June 30, 2025, an increase of approximately $259.7 million, or 6.4% higher than gross billings of $4.05 billion for the six-months ended June 30, 2024. Gross billings increased primarily due to increased worldwide sales by volume of our Monster Energy® brand energy drinks as a result of increased consumer demand. Net changes in foreign currency exchange rates had an unfavorable impact on gross billings for the Monster Energy® Drinks segment of approximately $59.4 million for the six-months ended June 30, 2025. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 7.9% for the six-months ended June 30, 2025.
Previous report
Gross billings for the Other segment were $12.5 million for the six-months ended June 30, 2025, a decrease of approximately $0.1 million, or 1.0% lower than gross billings of $12.7 million for the six-months ended June 30, 2024.
Previous report
Promotional allowances, commissions and other expenses, as described in the footnote below, were $716.6 million for the six-months ended June 30, 2025, an increase of $89.4 million, or 14.2% higher than promotional allowances, commissions and other expenses of $627.2 million for the six-months ended June 30, 2024. Promotional allowances, commissions and other expenses as a percentage of gross billings increased to 15.4% from 14.2% for the six-months ended June 30, 2025 and 2024, respectively.
Reworded paragraphs (65)
Previous wording
We also develop, market, sell and distribute craft beers, FMBs and hard seltzers under a number of brands, including Jai Alai® IPA, Florida Man® IPA, Dale’s Pale Ale®, Wild Basin® Hard Seltzers, Dallas Blonde®, Deep Ellum TM IPA, Perrin Brewing Company® Black Ale, Hop Rising® Double IPA, Wasatch® Apricot Hefeweizen, The Beast TM, Nasty Beast® Hard Tea, Blind Lemon®, Blinder Lemon TM, Michi and a host of other brands.
Current wording
We also develop, market, sell and distribute craft beers, FMBs and hard seltzers under a number of brands, including Jai Alai® IPA, Florida Man® IPA, Dale’s Pale Ale®, Wild Basin® Hard Seltzers, Dallas Blonde®, Deep Ellum TM IPA, Perrin Brewing Company® Black Ale, Hop Rising® Double IPA, Wasatch® Apricot Hefeweizen, The Beast TM, Beast TM Tea, Blind Lemon®, Blinder Lemon TM, Michi and a host of other brands.
Previous wording
The vast majority of our net sales are derived from our Monster Energy® Drinks segment. Net sales of our Monster Energy® Drinks segment were $1.94 billion for the three-months ended June 30, 2025. Net sales of our Strategic Brands segment were $129.9 million for the three-months ended June 30, 2025. Net sales of our Alcohol Brands segment were $38.0 million for the three-months ended June 30, 2025. Net sales of our Other segment were $6.4 million for the three-months ended June 30, 2025.
Current wording
The vast majority of our net sales are derived from our Monster Energy® Drinks segment. Net sales of our Monster Energy® Drinks segment were $2.03 billion for the three-months ended September 30, 2025. Net sales of our Strategic Brands segment were $130.5 million for the three-months ended September 30, 2025. Net sales of our Alcohol Brands segment were $33.0 million for the three-months ended September 30, 2025. Net sales of our Other segment were $6.8 million for the three-months ended September 30, 2025.
Previous wording
Our Monster Energy® Drinks segment represented 91.7% of our net sales for both the three-months ended June 30, 2025 and 2024. Our Strategic Brands segment represented 6.2% and 5.7% of our net sales for the three-months ended June 30, 2025 and 2024, respectively. Our Alcohol Brands segment represented 1.8% and 2.2% of our net sales for the three-months ended June 30, 2025 and 2024, respectively. Our Other segment represented 0.3% and 0.4% of our net sales for the three-months ended June 30, 2025 and 2024, respectively.
Current wording
Our Monster Energy® Drinks segment represented 92.3% and 91.6% of our net sales for the three-months ended September 30, 2025 and 2024, respectively. Our Strategic Brands segment represented 5.9% and 6.0% of our net sales for the three-months ended September 30, 2025 and 2024, respectively. Our Alcohol Brands segment represented 1.5% and 2.1% of our net sales for the three-months ended September 30, 2025 and 2024, respectively. Our Other segment represented 0.3% of our net sales for both the three-months ended September 30, 2025 and 2024.
Previous wording
Our growth strategy includes further developing our domestic markets and expanding our international business. Net sales to customers outside the United States were $864.2 million for the three-months ended June 30, 2025, an increase of approximately $118.2 million, or 15.8% higher than net sales to customers outside of the United States of $746.0 million for the three-months ended June 30, 2024. Such sales were approximately 41% and 39% of net sales for the three-months ended June 30, 2025 and 2024, respectively. Net changes in foreign currency exchange rates had an unfavorable impact on net sales to customers outside of the United States of approximately $5.0 million for the three-months ended June 30, 2025. Net sales to customers outside the United States, on a foreign currency adjusted basis, increased 16.5% for the three-months ended June 30, 2025.
Current wording
Our growth strategy includes further developing our domestic markets and expanding our international business. Net sales to customers outside the United States were $937.1 million for the three-months ended September 30, 2025, an increase of approximately $177.0 million, or 23.3% higher than net sales to customers outside of the United States of $760.1 million for the three-months ended September 30, 2024. Such sales were approximately 43% and 40% of net sales for the three-months ended September 30, 2025 and 2024, respectively. Net changes in foreign currency exchange rates had a favorable impact on net sales to customers outside of the United States of approximately $31.8 million for the three-months ended September 30, 2025. Net sales to customers outside the United States, on a foreign currency adjusted basis, increased 19.1% for the three-months ended September 30, 2025.
Previous wording
Our non-alcohol customers are primarily full service beverage bottlers/distributors, retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, drug stores, foodservice customers, value stores, e-commerce retailers and the military. Our alcohol customers are primarily beer distributors who in turn sell to retailers within the alcohol distribution system. Percentages of our gross billings to our various customer types for thethree- and six-months ended June 30, 2025 and 2024 are reflected below. Such information includes sales made by us directly to the customer types concerned, which include our full service beverage bottlers/distributors in the United States. Such full service beverage bottlers/distributors in turn sell certain of our products to
Current wording
Our non-alcohol customers are primarily full service beverage bottlers/distributors, retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, drug stores, foodservice customers, value stores, e-commerce retailers and the military. Our alcohol customers are primarily beer distributors who in turn sell to retailers within the alcohol distribution system. Percentages of our gross billings to our various customer types for the three- and nine-months ended September 30, 2025 and 2024 are reflected below. Such information includes sales made by us directly to the customer types concerned, which include our full service beverage bottlers/distributors in the United States. Such full service beverage bottlers/distributors in turn sell certain of our products to some of the same customer types listed below. We limit our description of our customer types to include only our sales to our full service bottlers/distributors without reference to such bottlers/distributors’ sales to their own customers.
Previous wording
Coca-Cola Europacific Partners accounted for approximately 15% and 14% of the Company’s net sales for the three-months ended June 30, 2025 and 2024, respectively. Coca-Cola Europacific Partners accounted for approximately 14% of the Company’s net sales for both the six-months ended June 30, 2025 and 2024.
Current wording
Coca-Cola Europacific Partners accounted for approximately 17% and 15% of the Company’s net sales for the three-months ended September 30, 2025 and 2024, respectively. Coca-Cola Europacific Partners accounted for approximately 15% and 14% of the Company’s net sales for the nine-months ended September 30, 2025 and 2024, respectively.
Previous wording
Coca-Cola Consolidated, Inc. accounted for approximately 11% of the Company’s net sales for both the three-months ended June 30, 2025 and 2024. Coca-Cola Consolidated, Inc. accounted for approximately 10% of the Company’s net sales for both the six-months ended June 30, 2025 and 2024.
Current wording
Coca-Cola Consolidated, Inc. accounted for approximately 9% and 10% of the Company’s net sales for the three-months ended September 30, 2025 and 2024, respectively. Coca-Cola Consolidated, Inc. accounted for approximately 10% of the Company’s net sales for both the nine-months ended September 30, 2025 and 2024.
Previous wording
Reyes Holdings, LLC accounted for approximately 9% and 10% of the Company’s net sales for the three-months ended June 30, 2025 and 2024, respectively. Reyes Holdings, LLC accounted for approximately 9% of the Company’s net sales for both the six-months ended June 30, 2025 and 2024.
Current wording
Reyes Holdings, LLC accounted for approximately 9% of the Company’s net sales for both the three-months ended September 30, 2025 and 2024. Reyes Holdings, LLC accounted for approximately 9% of the Company’s net sales for both the nine-months ended September 30, 2025 and 2024.
Previous wording
The following table sets forth key statistics for the three- and six-months ended June 30, 2025 and 2024.
Current wording
The following table sets forth key statistics for the three- and nine-months ended September 30, 2025 and 2024.
Previous wording
1*Includes $10.0 million for both the three-months ended June 30, 2025 and 2024, related to the recognition of deferred revenue.*Includes $19.9 million for both the six-months ended June 30, 2025 and 2024, related to the recognition of deferred revenue.
Current wording
1Includes $10.1 million and $10.0 million for the three-months ended September 30, 2025 and 2024, related to the recognition of deferred revenue, respectively. Includes $30.0 million and $29.9 million for the nine-months ended September 30, 2025 and 2024, related to the recognition of deferred revenue, respectively.
Previous wording
Net sales for the Strategic Brands segment were $129.9 million for the three-months ended June 30, 2025, an increase of approximately $20.7 million, or 18.9% higher than net sales of $109.2 million for the three-months ended June 30, 2024. Net sales for the Strategic Brands segment increased primarily due to increased sales by volume of our Burn®, NOS®, and Fury® brand energy drinks. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $0.2 million for the Strategic Brands segment for the three-months ended June 30, 2025. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 19.1% for the three-months ended June 30, 2025. Net sales of concentrates within the Strategic Brands segment tend to have more pronounced fluctuations from period to period as compared to net sales of our finished goods within the Monster Energy® Drinks segment primarily as a result of bottler production schedules.
Current wording
Net sales for the Strategic Brands segment were $130.5 million for the three-months ended September 30, 2025, an increase of approximately $17.9 million, or 15.9% higher than net sales of $112.6 million for the three-months ended September 30, 2024. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Predator®, Burn®, and Mother® brand energy drinks. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $3.1 million for the Strategic Brands segment for the three-months ended September 30, 2025. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 13.2% for the three-months ended September 30, 2025. Net sales of concentrates within the Strategic Brands segment tend to have more pronounced fluctuations from period to period as compared to net sales of our finished goods within the Monster Energy® Drinks segment primarily as a result of bottler production schedules.
Previous wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 249.3 million cases for the three-months ended June 30, 2025, an increase of approximately 37.1 million cases or 17.5% higher than case sales of 212.2 million cases for the three-months ended June 30, 2024. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased to $8.29 for the three-months ended June 30, 2025, which was 5.0% lower than the average net sales per case of $8.73 for the three-months ended June 30, 2024. The decrease in overall average net sales per case for our energy drink products for the three-months ended June 30, 2025 compared to the three-months ended June 30, 2024 was primarily due to geographical/product sales mix.
Current wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 258.4 million cases for the three-months ended September 30, 2025, an increase of approximately 39.0 million cases or 17.8% higher than case sales of 219.4 million cases for the three-months ended September 30, 2024. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased marginally to $8.35 for the three-months ended September 30, 2025 from $8.36 for the three-months ended September 30, 2024.
Previous wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 2.8 million cases for the three-months ended June 30, 2025, a decrease of approximately 0.2 million cases or 7.6% lower than case sales of 3.0 million cases for the three-months ended June 30, 2024. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.14 million barrels for the three-months ended June 30, 2025, a decrease of approximately 0.01 million barrels or 7.6% lower than barrel sales of 0.15 million barrels for the three-months ended June 30, 2024.
Current wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 2.4 million cases for the three-months ended September 30, 2025, a decrease of approximately 0.4 million cases or 17.0% lower than case sales of 2.8 million cases for the three-months ended September 30, 2024. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.11 million barrels for the three-months ended September 30, 2025, a decrease of approximately 0.03 million barrels or 17.0% lower than barrel sales of 0.14 million barrels for the three-months ended September 30, 2024.
Previous wording
Gross profit was $2.22 billion for the six-months ended June 30, 2025, an increase of approximately $177.7 million, or 8.7% higher than the gross profit of $2.05 billion for the six-months ended June 30, 2024. The increase in gross profit dollars was primarily the result of the $166.5 million increase in net sales for the six-months ended June 30, 2025.
Current wording
Gross profit was $1.22 billion for the three-months ended September 30, 2025, an increase of approximately $224.7 million, or 22.5% higher than the gross profit of $999.8 million for the three-months ended September 30, 2024. The increase in gross profit dollars was primarily the result of the $316.2 million increase in net sales for the three-months ended September 30, 2025. Gross profit for the three-months ended September 30, 2024 was adversely impacted by an increase in inventory reserves due to excess inventory levels in the Alcohol Brands segment of $10.6 million (the “Alcohol Brands Inventory Reserves”).
Previous wording
Gross profit as a percentage of net sales increased to 55.7% for the three-months ended June 30, 2025 from 53.6% for the three-months ended June 30, 2024. The increase in gross profit as a percentage of net sales for the three-months ended June 30, 2025 was primarily the result of the Pricing Actions, supply chain optimization and lower input costs, partially offset by geographical sales mix and higher promotional allowances.
Current wording
Gross profit as a percentage of net sales increased to 55.7% for the three-months ended September 30, 2025 from 53.2% for the three-months ended September 30, 2024. The increase in gross profit as a percentage of net sales for the three-months ended September 30, 2025 was primarily the result ofthe Pricing Actions, supply chain optimization and product sales mix, partially offset by higher promotional allowances, increased aluminum can costs and geographical sales mix.
Previous wording
Total operating expenses were $544.8 million for the three-months ended June 30, 2025, an increase of approximately $52.4 million, or 10.7% higher than total operating expenses of $492.3 million for the three-months ended June 30, 2024.
Current wording
Total operating expenses were $549.1 million for the three-months ended September 30, 2025, an increase of approximately $29.3 million, or 5.6% higher than total operating expenses of $519.9 million for the three-months ended September 30, 2024.
Previous wording
The increase in operating expenses was primarily due to increased payroll expense of $29.6 million (of which $14.4 million was attributable to stock-based compensation expense) and general administrative expense of $23.5 million. Operating expenses as a percentage of net sales for the three-months ended June 30, 2025 were 25.8% as compared to 25.9% for the three-months ended June 30, 2024.
Current wording
The increase in operating expenses was primarily due to increased selling and marketing expense of $18.4 million and payroll expense of $18.2 million. Operating expenses as a percentage of net sales for the three-months ended September 30, 2025 were 25.0% as compared to 27.6% for the three-months ended September 30, 2024.
Previous wording
Operating income was $631.6 million for the three-months ended June 30, 2025, an increase of approximately $104.5 million, or 19.8% higher than operating income of $527.2 million for the three-months ended June 30, 2024. Operating income as a percentage of net sales increased to 29.9% for the three-months ended June 30, 2025 from 27.7% for the three-months ended June 30, 2024.
Current wording
Operating income was $675.4 million for the three-months ended September 30, 2025, an increase of approximately $195.4 million, or 40.7% higher than operating income of $479.9 million for the three-months ended September 30, 2024. Operating income as a percentage of net sales increased to 30.7% for the three-months ended September 30, 2025 from 25.5% for the three-months ended September 30, 2024.
Previous wording
Operating income was $164.1 million and $145.8 million for the three-months ended June 30, 2025 and 2024, respectively, for our operations in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean.
Current wording
Operating income was $197.3 million and $135.3 million for the three-months ended September 30, 2025 and 2024, respectively, for our international operations, exclusive of Canada.
Previous wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $757.5 million for the three-months ended June 30, 2025, an increase of approximately $145.2 million, or 23.7% higher than operating income of $612.3 million for the three-months ended June 30, 2024. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in gross profit.
Current wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $790.5 million for the three-months ended September 30, 2025, an increase of approximately $188.8 million, or 31.4% higher than operating income of $601.7 million for the three-months ended September 30, 2024. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in net sales.
Previous wording
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $67.9 million for the three-months ended June 30, 2025, an increase of approximately $6.2 million, or 10.1% higher than operating income of $61.7 million for the three-months ended June 30, 2024. The increase in operating income for the Strategic Brands segment was primarily the result of an increase in gross profit.
Current wording
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $66.3 million for the three-months ended September 30, 2025, an increase of approximately $6.2 million, or 10.3% higher than operating income of $60.1 million for the three-months ended September 30, 2024. The increase in operating income for the Strategic Brands segment was primarily the result of an increase in net sales.
Previous wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $14.6 million for the three-months ended June 30, 2025, a decrease of approximately $7.9 million, or 35.1% lower than the operating loss of $22.6 million for the three-months ended June 30, 2024. The decrease in operating loss for the three-months ended June 30, 2025 was primarily due to a decrease in general administrative expense.
Current wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $17.9 million for the three-months ended September 30, 2025, a decrease of approximately $4.8 million, or 21.0% lower than the operating loss of $22.6 million for the three-months ended September 30, 2024. The decrease in operating loss for the three-months ended September 30, 2025 was primarily due to the Alcohol Brands Inventory Reserves recognized in the three-months ended September 30, 2024.
Previous wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $1.3 million for the three-months ended June 30, 2025, as compared to operating income of $1.4 million for the three-months ended June 30, 2024.
Current wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $1.6 million for the three-months ended September 30, 2025, as compared to operating income of $1.5 million for the three-months ended September 30, 2024.
Previous wording
Interest and other income, net, was $23.3 million for the six-months ended June 30, 2025, as compared to interest and other income, net, of $60.1 million for the six-months ended June 30, 2024. Interest income was $35.0 million and $79.4 million for the six-months ended June 30, 2025 and 2024, respectively. The decrease in interest income for the six-months ended June 30, 2025 was primarily related to lower average short- and long-term investment balances as a result of treasury stock repurchases made in the second and third quarters of 2024. Interest expense was $5.8 million and $5.0 million for the six-months ended June 30, 2025 and 2024, respectively. Foreign currency transaction losses were $5.8 million and $14.0 million for the six-months ended June 30, 2025 and 2024, respectively.
Current wording
Interest and other income (expense), net, was $14.2 million for the three-months ended September 30, 2025, as compared to interest and other income (expense), net, of $(5.8) million for the three-months ended September 30, 2024. Interest income was $24.2 million and $18.1 million for the three-months ended September 30, 2025 and 2024, respectively. The increase in interest income for the three-months ended September 30, 2025 was primarily related to higher average short- and long-term investment balances for the three-months ended September 30, 2025 compared to the three-months ended September 30, 2024. Interest expense was $0.5 million and $12.5 million for the three-months ended September 30, 2025 and 2024, respectively. The decrease in interest expense for the three-months ended September 30, 2025 was primarily due to the repayment of long-term debt in April 2025. Foreign currency transaction losses were $8.0 million and $10.8 million for the three-months ended September 30, 2025 and 2024, respectively.
Previous wording
Provision for income taxes was $157.9 million for the three-months ended June 30, 2025, an increase of $31.7 million, or 25.1% higher than the provision for income taxes of $126.2 million for the three-months ended June 30, 2024. The effective combined federal, state and foreign tax rate increased to 24.4% from 22.9% for the three-months ended June 30, 2025 and 2024, respectively. The increase in the effective tax rate was primarily attributable to higher income taxes in foreign tax jurisdictions.
Current wording
Provision for income taxes was $165.1 million for the three-months ended September 30, 2025, an increase of $61.9 million from the provision for income taxes of $103.2 million for the three-months ended September 30, 2024. The effective combined federal, state and foreign tax rate increased to 23.9% from 21.8% for the three-months ended September 30, 2025 and 2024, respectively. The increase in the effective tax rate was primarily attributable to higher income taxes from foreign tax jurisdictions.
Previous wording
Net income was $488.8 million for the three-months ended June 30, 2025, an increase of $63.4 million, or 14.9% higher than net income of $425.4 million for the three-months ended June 30, 2024.
Current wording
Net income was $524.5 million for the three-months ended September 30, 2025, an increase of $153.5 million, or 41.4% higher than net income of $370.9 million for the three-months ended September 30, 2024.
Previous wording
Net sales for the Strategic Brands segment were $228.2 million for the six-months ended June 30, 2025, an increase of approximately $10.6 million, or 4.9% higher than net sales of $217.7 million for the six-months ended June 30, 2024. Net sales for the Strategic Brands segment increased primarily due to increased sales by volume of our Burn®, Predator® and NOS® brand energy drinks. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $6.7 million for the Strategic Brands segment for the six-months ended June 30, 2025. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 7.9% for the six-months ended June 30, 2025. Net sales of concentrates within the Strategic Brands segment tend to have more pronounced fluctuations from period to period as compared to net sales of our finished goods within the Monster Energy® Drinks segment primarily as a result of bottler production schedules.
Current wording
Net sales for the Strategic Brands segment were $358.7 million for the nine-months ended September 30, 2025, an increase of approximately $28.5 million, or 8.6% higher than net sales of $330.2 million for the nine-months ended September 30, 2024. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Predator®, Burn®, and NOS® brand energy drinks. Net changes in foreign currency exchange rates had an unfavorable impact on net sales of approximately $3.7 million for the Strategic Brands segment for the nine-months ended September 30, 2025. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 9.7% for the nine-months ended September 30, 2025. Net sales of concentrates within the Strategic Brands segment tend to have more pronounced fluctuations from period to period as compared to net sales of our finished goods within the Monster Energy® Drinks segment primarily as a result of bottler production schedules.
Previous wording
Net sales for the Alcohol Brands segment were $72.7 million for the six-months ended June 30, 2025, a decrease of approximately $25.0 million, or 25.6% lower than net sales of $97.6 million for the six-months ended June 30, 2024. The decrease in net sales for the six-months ended June 30, 2025 was primarily due to decreased sales by volume of the Nasty Beast® Hard Tea product line, which was launched during the six-months ended June 30, 2024, as well as decreased sales by volume of The Beast TM product line.
Current wording
Net sales for the Alcohol Brands segment were $105.7 million for the nine-months ended September 30, 2025, a decrease of approximately $31.7 million, or 23.1% lower than net sales of $137.4 million for the nine-months ended September 30, 2024. The decrease in net sales for the nine-months ended September 30, 2025 was primarily due to decreased sales of the Beast TM Tea product line, which was launched during the nine-months ended September 30, 2024, as well as decreased sales of The Beast TM product line.
Previous wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 462.4 million cases for the six-months ended June 30, 2025, an increase of approximately 38.8 million cases or 9.2% higher than case sales of 423.6 million cases for the six-months ended June 30, 2024. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased to $8.39 for the six-months ended June 30, 2025, which was 3.6% lower than the average net sales per case of $8.71 for the six-months ended June 30, 2024. The decrease in overall average net sales per case for our energy drink products for the six-months ended June 30, 2025 compared to the six-months ended June 30, 2024 was primarily due to adverse changes in foreign currency exchange rates as well as geographical/product sales mix.
Current wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 720.8 million cases for the nine-months ended September 30, 2025, an increase of approximately 77.8 million cases or 12.1% higher than case sales of 643.0 million cases for the nine-months ended September 30, 2024. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased to $8.38 for the nine-months ended September 30, 2025, which was 2.5% lower than the average net sales per case of $8.59 for the nine-months ended September 30, 2024. The decrease in overall average net sales per case for our energy drink products for the nine-months ended September 30, 2025 compared to the nine-months ended September 30, 2024 was primarily due to adverse changes in foreign currency exchange rates as well as geographical sales mix.
Previous wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 5.2 million cases for the six-months ended June 30, 2025, a decrease of approximately 1.9 million cases or 26.9% lower than case sales of 7.1 million cases for the six-months ended June 30, 2024. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.25 million barrels for the six-months ended June 30, 2025, a decrease of approximately 0.09 million barrels or 26.9% lower than barrel sales of 0.34 million barrels for the six-months ended June 30, 2024.
Current wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 7.6 million cases for the nine-months ended September 30, 2025, a decrease of approximately 2.4 million cases or 24.1% lower than case sales of 10.0 million cases for the nine-months ended September 30, 2024. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.37 million barrels for the nine-months ended September 30, 2025, a decrease of approximately 0.11 million barrels or 24.1% lower than barrel sales of 0.48 million barrels for the nine-months ended September 30, 2024.
Previous wording
Gross profit was $1.18 billion for the three-months ended June 30, 2025, an increase of approximately $156.9 million, or 15.4% higher than the gross profit of $1.02 billion for the three-months ended June 30, 2024. The increase in gross profit dollars was primarily the result of the $211.0 million increase in net sales for the three-months ended June 30, 2025.
Current wording
Gross profit was $3.45 billion for the nine-months ended September 30, 2025, an increase of approximately $402.4 million, or 13.2% higher than the gross profit of $3.05 billion for the nine-months ended September 30, 2024. The increase in gross profit dollars was primarily the result of the $482.6 million increase in net sales for the nine-months ended September 30, 2025.
Previous wording
Gross profit as a percentage of net sales increased to 56.1% for the six-months ended June 30, 2025 from 53.9% for the six-months ended June 30, 2024. The increase in gross profit as a percentage of net sales for the six-months ended June 30, 2025 was primarily the result of the Pricing Actions, supply chain optimization, lower input costs and favorable product mix, partially offset by higher promotional allowances and geographical sales mix.
Current wording
Gross profit as a percentage of net sales increased to 56.0% for the nine-months ended September 30, 2025 from 53.6% for the nine-months ended September 30, 2024. The increase in gross profit as a percentage of net sales for the nine-months ended September 30, 2025 was primarily the result ofthe Pricing Actions and supply chain optimization, partially offset by higher promotional allowances and geographical sales mix.
Previous wording
Total operating expenses were $1.02 billion for the six-months ended June 30, 2025, an increase of approximately $45.5 million, or 4.7% higher than total operating expenses of $977.5 million for the six-months ended June 30, 2024.
Current wording
Total operating expenses were $1.57 billion for the nine-months ended September 30, 2025, an increase of approximately $74.8 million, or 5.0% higher than total operating expenses of $1.50 billion for the nine-months ended September 30, 2024.
Previous wording
The increase in operating expenses was primarily due to increased payroll expense of $33.3 million and general administrative expense of $32.0 million, partially offset by decreased distribution expense of $22.3 million. Operating expenses as a percentage of net sales for the six-months ended June 30, 2025 were 25.8% as compared to 25.7% for the six-months ended June 30, 2024.
Current wording
The increase in operating expenses was primarily due to increased payroll expense of $51.5 million, general administrative expense of $24.9 million, and selling and marketing expense of $21.0 million. Operating expenses as a percentage of net sales for the nine-months ended September 30, 2025 were 25.5% as compared to 26.4% for the nine-months ended September 30, 2024.
Previous wording
Operating income was $1.20 billion for the six-months ended June 30, 2025, an increase of approximately $132.2 million, or 12.4% higher than operating income of $1.07 billion for the six-months ended June 30, 2024. Operating income as a percentage of net sales increased to 30.3% for the six-months ended June 30, 2025 from 28.1% for the six-months ended June 30, 2024.
Current wording
Operating income was $1.88 billion for the nine-months ended September 30, 2025, an increase of approximately $327.7 million, or 21.2% higher than operating income of $1.55 billion for the nine-months ended September 30, 2024. Operating income as a percentage of net sales increased to 30.4% for the nine-months ended September 30, 2025 from 27.3% for the nine-months ended September 30, 2024.
Previous wording
Operating income was $306.7 million and $283.7 million for the six-months ended June 30, 2025 and 2024, respectively, for our operations in EMEA, Asia Pacific (including Oceania), Latin America and the Caribbean.
Current wording
Operating income was $504.1 million and $419.0 million for the nine-months ended September 30, 2025 and 2024, respectively, for our international operations, exclusive of Canada.
Previous wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $1.44 billion for the six-months ended June 30, 2025, an increase of approximately $197.5 million, or 15.9% higher than operating income of $1.24 billion for the six-months ended June 30, 2024. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in gross profit.
Current wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $2.23 billion for the nine-months ended September 30, 2025, an increase of approximately $386.3 million, or 21.0% higher than operating income of $1.84 billion for the nine-months ended September 30, 2024. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in net sales.
Previous wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $36.1 million for the six-months ended June 30, 2025, an increase of approximately $7.5 million, or 26.4% higher than the operating loss of $28.6 million for the six-months ended June 30, 2024. The increase in operating loss for the six-months ended June 30, 2025 was primarily due to a decrease in net sales.
Current wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $54.0 million for the nine-months ended September 30, 2025, an increase of approximately $2.8 million, or 5.4% higher than the operating loss of $51.2 million for the nine-months ended September 30, 2024. The increase in operating loss for the nine-months ended September 30, 2025 was primarily due to a decrease in net sales partially offset by the Alcohol Brands Inventory Reserves recognized in the three-months ended September 30, 2024.
Previous wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $1.5 million for the six-months ended June 30, 2025, as compared to operating income of $2.4 million for the six-months ended June 30, 2024.
Current wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $3.1 million for the nine-months ended September 30, 2025, as compared to operating income of $3.9 million for the nine-months ended September 30, 2024.
Previous wording
Interest and other income, net, was $15.1 million for the three-months ended June 30, 2025, as compared to interest and other income, net, of $24.4 million for the three-months ended June 30, 2024. Interest income was $18.1 million and $38.2 million for the three-months ended June 30, 2025 and 2024, respectively. The decrease in interest income for the three-months ended June 30, 2025 was primarily related to lower average short- and long-term investment balances as a result of treasury stock repurchases made in the second and third quarters of 2024. Interest expense was $1.8 million and $4.9 million for the three-months ended June 30, 2025 and 2024, respectively. Foreign currency transaction losses were $2.1 million and $8.0 million for the three-months ended June 30, 2025 and 2024, respectively.
Current wording
Interest and other income (expense), net, was $37.5 million for the nine-months ended September 30, 2025, as compared to interest and other income (expense), net, of $54.3 million for the nine-months ended September 30, 2024. Interest income was $59.1 million and $97.5 million for the nine-months ended September 30, 2025 and 2024, respectively. The decrease in interest income for the nine-months ended September 30, 2025 was primarily related to lower average short- and long-term investment balances as a result of treasury stock repurchases made in the second and third quarters of 2024. Interest expense was $6.3 million and $17.5 million for the nine-months ended September 30, 2025 and 2024, respectively. The decrease in interest expense for the nine-months ended September 30, 2025 was primarily due to the repayment of long-term debt in April 2025. Foreign currency transaction losses were $13.8 million and $24.7 million for the nine-months ended September 30, 2025 and 2024, respectively.
Showing the first 40 of 65 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Net sales to customers outside the United States were $2.53 billion for the nine-months ended September 30, 2025, an increase of approximately $284.3 million, or 12.6% higher than net sales to customers outside of the United States of $2.25 billion for the nine-months ended September 30, 2024. Such sales were approximately 41% and 40% of net sales for the nine-months ended September 30, 2025 and 2024, respectively. Net changes in foreign currency exchange rates had an unfavorable impact on net sales to customers outside of the United States of approximately $30.6 million for the nine-months ended September 30, 2025. Net sales to customers outside the United States, on a foreign currency adjusted basis, increased 14.0% for the nine-months ended September 30, 2025.
Current report — wording carried from elsewhere
Promotional allowances, commissions and other expenses, as described in the footnote below, were $1.18 billion for the nine-months ended September 30, 2025, an increase of $217.1 million, or 22.5% higher than promotional allowances, commissions and other
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
some of the same customer types listed below. We limit our description of our customer types to include only our sales to our full service bottlers/distributors without reference to such bottlers/distributors’ sales to their own customers.
Previous report — wording carried elsewhere
as gross billings has been defined by our internal reporting practices. In addition, gross billings may not be realized in the form of cash receipts as promotional payments and allowances may be deducted from payments received from certain customers.
Previous report — wording carried elsewhere
more pronounced, the addition of new bottlers/distributors, changes in the sales mix of our products and changes in advertising and promotional expenses.
Previous report — wording carried elsewhere
expenditures (exclusive of common stock repurchases) are likely to be less than $250.0 million through June 30, 2026. However, future business opportunities may cause a change in this estimate.