Monster Beverage Corp
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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, 2026 · Filed Nov 6, 2026
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 2026-06-30; filed 2026-08-07.
0001104659-26-092193
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-06.
0001104659-26-123503
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 138 previous paragraphs and 138 current paragraphs.
62 unchanged; 57 reworded; 19 added; 19 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 35 previous and 34 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 (19)
Current report
Our net sales were $2.56 billion for the three-months ended September 30, 2026. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $8.1 million for the three-months ended September 30, 2026. Net sales on a foreign currency adjusted basis increased 16.3% for the three-months ended September 30, 2026.
Current report
Net sales were $2.56 billion for the three-months ended September 30, 2026, an increase of approximately $365.9 million, or 16.7% higher than net sales of $2.20 billion for the three-months ended September 30, 2025. 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 $8.1 million for the three-months ended September 30, 2026. Net sales on a foreign currency adjusted basis increased 16.3% for the three-months ended September 30, 2026.
Current report
Net sales for the Monster Energy® Drinks segment were $2.37 billion for the three-months ended September 30, 2026, an increase of approximately $346.5 million, or 17.1% higher than net sales of $2.03 billion for the three-months ended September 30, 2025. 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 $7.5 million for the three-months ended September 30, 2026. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 16.7% for the three-months ended September 30, 2026.
Current report
Net sales for the Alcohol Brands segment were $28.5 million for the three-months ended September 30, 2026, a decrease of approximately $4.5 million, or 13.6% lower than net sales of $33.0 million for the three-months ended September 30, 2025. The decrease in net sales for the three-months ended September 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Current report
Net sales for the Other segment were $4.8 million for the three-months ended September 30, 2026, a decrease of approximately $2.0 million, or 29.5% lower than net sales of $6.8 million for the three-months ended September 30, 2025.
Current report
Nine-Months Ended September 30, 2026 Compared to the Nine-Months Ended September 30, 2025**.**
Current report
Net sales for the Monster Energy® Drinks segment were $6.92 billion for the nine-months ended September 30, 2026, an increase of approximately $1.24 billion, or 21.8% higher than net sales of $5.68 billion for the nine-months ended September 30, 2025. 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 $134.7 million for the nine-months ended September 30, 2026. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 19.4% for the nine-months ended September 30, 2026.
Current report
Net sales for the Alcohol Brands segment were $93.4 million for the nine-months ended September 30, 2026, a decrease of approximately $12.3 million, or 11.6% lower than net sales of $105.7 million for the nine-months ended September 30, 2025. The decrease in net sales for the nine-months ended September 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Current report
Net sales for the Other segment were $15.5 million for the nine-months ended September 30, 2026, a decrease of approximately $3.7 million, or 19.3% lower than net sales of $19.2 million for the nine-months ended September 30, 2025.
Current report
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $209.8 million for the nine-months ended September 30, 2026, an increase of approximately $23.8 million, or 12.8% higher than operating income of $186.0 million for the nine-months ended September 30, 2025. The increase in operating income for the Strategic Brands segment was primarily the result of an increase in net sales.
Current report
Gross billings were $3.05 billion for the three-months ended September 30, 2026, an increase of approximately $393.1 million, or 14.8% higher than gross billings of $2.65 billion for the three-months ended September 30, 2025. 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 of approximately $6.2 million for the three-months ended September 30, 2026. Gross billings on a foreign currency adjusted basis increased 14.6% for the three-months ended September 30, 2026.
Current report
Gross billings for the Monster Energy® Drinks segment were $2.83 billion for the three-months ended September 30, 2026, an increase of approximately $371.0 million, or 15.1% higher than gross billings of $2.46 billion for the three-months ended September 30, 2025. 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 $5.5 million for the three-months ended September 30, 2026. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 14.9% for the three-months ended September 30, 2026.
Current report
Gross billings for the Alcohol Brands segment were $29.4 million for the three-months ended September 30, 2026, a decrease of approximately $4.2 million, or 12.4% lower than gross billings of $33.6 million for the three-months ended September 30, 2025. The decrease in gross billings for the three-months ended September 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Current report
Gross billings for the Other segment were $4.8 million for the three-months ended September 30, 2026, a decrease of $2.0 million, or 29.3% lower than gross billings of $6.8 million for the three-months ended September 30, 2025.
Current report
Nine-Months Ended September 30, 2026 Compared to the Nine-Months Ended September 30, 2025**.**
Current report
Gross billings were $8.80 billion for the nine-months ended September 30, 2026, an increase of approximately $1.49 billion, or 20.3% higher than gross billings of $7.32 billion for the nine-months ended September 30, 2025. 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 of approximately $169.4 million for the nine-months ended September 30, 2026. Gross billings on a foreign currency adjusted basis increased 18.0% for the nine-months ended September 30, 2026.
Current report
Gross billings for the Monster Energy® Drinks segment were $8.19 billion for the nine-months ended September 30, 2026, an increase of approximately $1.42 billion, or 21.0% higher than gross billings of $6.77 billion for the nine-months ended September 30, 2025. 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 $158.2 million for the nine-months ended September 30, 2026. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 18.7% for the nine-months ended September 30, 2026.
Current report
Gross billings for the Alcohol Brands segment were $96.7 million for the nine-months ended September 30, 2026, a decrease of approximately $12.9 million, or 11.8% lower than gross billings of $109.6 million for the nine-months ended September 30, 2025. The decrease in gross billings for the nine-months ended September 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Current report
Gross billings for the Other segment were $15.7 million for the nine-months ended September 30, 2026, a decrease of $3.7 million, or 19.0% lower than gross billings of $19.3 million for the nine-months ended September 30, 2025.
Removed paragraphs (19)
Previous report
Our net sales were $2.54 billion for the three-months ended June 30, 2026. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $48.5 million for the three-months ended June 30, 2026. Net sales on a foreign currency adjusted basis increased 17.9% for the three-months ended June 30, 2026.
Previous report
Net sales were $2.54 billion for the three-months ended June 30, 2026, an increase of approximately $425.9 million, or 20.2% higher than net sales of $2.11 billion for the three-months ended June 30, 2025. 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 $48.5 million for the three-months ended June 30, 2026. Net sales on a foreign currency adjusted basis increased 17.9% for the three-months ended June 30, 2026.
Previous report
Net sales for the Monster Energy® Drinks segment were $2.36 billion for the three-months ended June 30, 2026, an increase of approximately $418.8 million, or 21.6% higher than net sales of $1.94 billion for the three-months ended June 30, 2025. 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 $45.3 million for the three-months ended June 30, 2026. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 19.3% for the three-months ended June 30, 2026.
Previous report
Net sales for the Alcohol Brands segment were $32.2 million for the three-months ended June 30, 2026, a decrease of approximately $5.8 million, or 15.2% lower than net sales of $38.0 million for the three-months ended June 30, 2025. The decrease in net sales for the three-months ended June 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Previous report
Net sales for the Other segment were $5.4 million for the three-months ended June 30, 2026, a decrease of approximately $1.0 million, or 15.3% lower than net sales of $6.4 million for the three-months ended June 30, 2025.
Previous report
Six-Months Ended June 30, 2026 Compared to the Six-Months Ended June 30, 2025**.**
Previous report
Net sales were $4.89 billion for the six-months ended June 30, 2026, an increase of approximately $924.6 million, or 23.3% higher than net sales of $3.97 billion for the six-months ended June 30, 2025. 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 $137.8 million for the six-months ended June 30, 2026. Net sales on a foreign currency adjusted basis increased 19.8% for the six-months ended June 30, 2026.
Previous report
Net sales for the Monster Energy® Drinks segment were $4.54 billion for the six-months ended June 30, 2026, an increase of approximately $891.9 million, or 24.4% higher than net sales of $3.65 billion for the six-months ended June 30, 2025. 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 $127.2 million for the six-months ended June 30, 2026. Net sales for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 20.9% for the six-months ended June 30, 2026.
Previous report
Net sales for the Alcohol Brands segment were $64.9 million for the six-months ended June 30, 2026, a decrease of approximately $7.8 million, or 10.8% lower than net sales of $72.7 million for the six-months ended June 30, 2025. The decrease in net sales for the six-months ended June 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Previous report
Net sales for the Other segment were $10.7 million for the six-months ended June 30, 2026, a decrease of approximately $1.7 million, or 13.7% lower than net sales of $12.4 million for the six-months ended June 30, 2025.
Previous report
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $130.2 million for the six-months ended June 30, 2026, an increase of approximately $10.5 million, or 8.7% higher than operating income of $119.8 million for the six-months ended June 30, 2025. The increase in operating income for the Strategic Brands segment was primarily the result of an increase in net sales.
Previous report
Gross billings were $2.99 billion for the three-months ended June 30, 2026, an increase of approximately $491.7 million, or 19.7% higher than gross billings of $2.50 billion for the three-months ended June 30, 2025. 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 of approximately $55.2 million for the three-months ended June 30, 2026. Gross billings on a foreign currency adjusted basis increased 17.5% for the three-months ended June 30, 2026.
Previous report
Gross billings for the Alcohol Brands segment were $33.8 million for the three-months ended June 30, 2026, a decrease of approximately $6.0 million, or 15.1% lower than gross billings of $39.8 million for the three-months ended June 30, 2025. The decrease in gross billings for the three-months ended June 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Previous report
Gross billings for the Other segment were $5.5 million for the three-months ended June 30, 2026, a decrease of $0.9 million, or 13.9% lower than gross billings of $6.4 million for the three-months ended June 30, 2025.
Previous report
Six-Months Ended June 30, 2026 Compared to the Six-Months Ended June 30, 2025**.**
Previous report
Gross billings were $5.76 billion for the six-months ended June 30, 2026, an increase of approximately $1.10 billion, or 23.5% higher than gross billings of $4.66 billion for the six-months ended June 30, 2025. 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 of approximately $163.2 million for the six-months ended June 30, 2026. Gross billings on a foreign currency adjusted basis increased 20.0% for the six-months ended June 30, 2026.
Previous report
Gross billings for the Monster Energy® Drinks segment were $5.36 billion for the six-months ended June 30, 2026, an increase of approximately $1.05 billion, or 24.4% higher than gross billings of $4.31 billion for the six-months ended June 30, 2025. 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 $152.8 million for the six-months ended June 30, 2026. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 20.9% for the six-months ended June 30, 2026.
Previous report
Gross billings for the Alcohol Brands segment were $67.3 million for the six-months ended June 30, 2026, a decrease of approximately $8.7 million, or 11.5% lower than gross billings of $76.0 million for the six-months ended June 30, 2025. The decrease in gross billings for the six-months ended June 30, 2026 was primarily due to decreased sales of The Beast TM product line.
Previous report
Gross billings for the Other segment were $10.9 million for the six-months ended June 30, 2026, a decrease of $1.7 million, or 13.4% lower than gross billings of $12.5 million for the six-months ended June 30, 2025.
Reworded paragraphs (57)
Previous wording
We implemented price increases in the fourth quarter of 2025 (for core brands and packages) in the United States and at various times in certain international markets during 2025 (collectively, the “Pricing Actions”). The Pricing Actions positively impacted gross profit margins in 2026 as compared to 2025.
Current wording
We implemented price increases in the fourth quarter of 2025 (for core brands and packages) in the United States and at various times in certain international markets during 2025 and 2026 (collectively, the “Pricing Actions”). The Pricing Actions positively impacted gross profit margins in 2026 as compared to 2025.
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 $2.36 billion for the three-months ended June 30, 2026. Net sales of our Strategic Brands segment were $143.7 million for the three-months ended June 30, 2026. Net sales of our Alcohol Brands segment were $32.2 million for the three-months ended June 30, 2026. Net sales of our Other segment were $5.4 million for the three-months ended June 30, 2026.
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 $2.37 billion for the three-months ended September 30, 2026. Net sales of our Strategic Brands segment were $156.4 million for the three-months ended September 30, 2026. Net sales of our Alcohol Brands segment were $28.5 million for the three-months ended September 30, 2026. Net sales of our Other segment were $4.8 million for the three-months ended September 30, 2026.
Previous wording
Our Monster Energy® Drinks segment represented 92.8% and 91.7% of our net sales for the three-months ended June 30, 2026 and 2025, respectively. Our Strategic Brands segment represented 5.7% and 6.2% of our net sales for the three-months ended June 30, 2026 and 2025, respectively. Our Alcohol Brands segment represented 1.3% and 1.8% of our net sales for the three-months ended June 30, 2026 and 2025, respectively. Our Other segment represented 0.2% and 0.3% of our net sales for the three-months ended June 30, 2026 and 2025, respectively.
Current wording
Our Monster Energy® Drinks segment represented 92.6% and 92.3% of our net sales for the three-months ended September 30, 2026 and 2025, respectively. Our Strategic Brands segment represented 6.1% and 5.9% of our net sales for the three-months ended September 30, 2026 and 2025, respectively. Our Alcohol Brands segment represented 1.1% and 1.5% of our net sales for the three-months ended September 30, 2026 and 2025, respectively. Our Other segment represented 0.2% and 0.3% of our net sales for the three-months ended September 30, 2026 and 2025, respectively.
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 $1.16 billion for the three-months ended June 30, 2026, an increase of approximately $298.9 million, or 34.6% higher than net sales to customers outside of the United States of $864.2 million for the three-months ended June 30, 2025. Such sales were approximately 46% and 41% of net sales for the three-months ended June 30, 2026 and 2025, respectively. Net changes in foreign currency exchange rates had a favorable impact on net sales to customers outside of the United States of approximately $48.5 million for the three-months ended June 30, 2026. Net sales to customers outside the United States, on a foreign currency adjusted basis, increased 29.0% for the three-months ended June 30, 2026.
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 $1.20 billion for the three-months ended September 30, 2026, an increase of approximately $262.9 million, or 28.1% higher than net sales to customers outside of the United States of $937.1 million for the three-months ended September 30, 2025. Such sales were approximately 47% and 43% of net sales for the three-months ended September 30, 2026 and 2025, respectively. Net changes in foreign currency exchange rates had a favorable impact on net sales to customers outside of the United States of approximately $8.1 million for the three-months ended September 30, 2026. Net sales to customers outside the United States, on a foreign currency adjusted basis, increased 27.2% for the three-months ended September 30, 2026.
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 the three- and six-months ended June 30, 2026 and 2025 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.
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, 2026 and 2025 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 16% and 15% of the Company’s net sales for the three-months ended June 30, 2026 and 2025, respectively. Coca-Cola Europacific Partners accounted for approximately 16% and 14% of the Company’s net sales for the six-months ended June 30, 2026 and 2025, respectively.
Current wording
Coca-Cola Europacific Partners accounted for approximately 17% of the Company’s net sales for both the three-months ended September 30, 2026 and 2025. Coca-Cola Europacific Partners accounted for approximately 16% and 15% of the Company’s net sales for the nine-months ended September 30, 2026 and 2025, respectively.
Previous wording
Coca-Cola Consolidated, Inc. accounted for approximately 9% and 11% of the Company’s net sales for the three-months ended June 30, 2026 and 2025, respectively. Coca-Cola Consolidated, Inc. accounted for approximately 9% and 10% of the Company’s net sales for the six-months ended June 30, 2026 and 2025, respectively.
Current wording
Coca-Cola Consolidated, Inc. accounted for approximately 9% of the Company’s net sales for both the three-months ended September 30, 2026 and 2025. Coca-Cola Consolidated, Inc. accounted for approximately 9% and 10% of the Company’s net sales for the nine-months ended September 30, 2026 and 2025, respectively.
Previous wording
The following table sets forth key statistics for the three- and six-months ended June 30, 2026 and 2025.
Current wording
The following table sets forth key statistics for the three- and nine-months ended September 30, 2026 and 2025.
Previous wording
1I**ncludes $10.0 million for both the three-months ended June 30, 2026 and 2025, related to the recognition of deferred revenue. Includes $19.9 million for both the six-months ended June 30, 2026 and 2025, related to the recognition of deferred revenue.
Current wording
1I**ncludes $10.2 million and $10.1 million for the three-months ended September 30, 2026 and 2025, respectively, related to the recognition of deferred revenue. Includes $30.2 million and $30.0 million for the nine-months ended September 30, 2026 and 2025, respectively, related to the recognition of deferred revenue.
Previous wording
Net sales for the Strategic Brands segment were $143.7 million for the three-months ended June 30, 2026, an increase of approximately $13.8 million, or 10.6% higher than net sales of $129.9 million for the three-months ended June 30, 2025. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Fury®, Predator® and Burn® brand energy drinks, partially offset by decreased sales of NOS® energy drinks. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $3.3 million for the Strategic Brands segment for the three-months ended June 30, 2026. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 8.1% for the three-months ended June 30, 2026. 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 $156.4 million for the three-months ended September 30, 2026, an increase of approximately $25.9 million, or 19.8% higher than net sales of $130.5 million for the three-months ended September 30, 2025. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Burn® and Fury® brand energy drinks. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $0.6 million for the Strategic Brands segment for the three-months ended September 30, 2026. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 19.3% for the three-months ended September 30, 2026. 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 304.9 million cases for the three-months ended June 30, 2026, an increase of approximately 55.6 million cases or 22.3% higher than case sales of 249.3 million cases for the three-months ended June 30, 2025. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased marginally to $8.20 for the three-months ended June 30, 2026 from $8.29 for the three-months ended June 30, 2025.
Current wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 304.9 million cases for the three-months ended September 30, 2026, an increase of approximately 46.5 million cases, or 18.0% higher than case sales of 258.4 million cases for the three-months ended September 30, 2025. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased to $8.30 for the three-months ended September 30, 2026 from $8.35 for the three-months ended September 30, 2025.
Previous wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 2.3 million cases for the three-months ended June 30, 2026, a decrease of approximately 0.5 million cases or 16.1% lower than case sales of 2.8 million cases for the three-months ended June 30, 2025. 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 June 30, 2026, a decrease of approximately 0.03 million barrels or 16.1% lower than barrel sales of 0.14 million barrels for the three-months ended June 30, 2025.** **
Current wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 2.0 million cases for the three-months ended September 30, 2026, a decrease of approximately 0.3 million cases, or 14.2% lower than case sales of 2.4 million cases for the three-months ended September 30, 2025. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.10 million barrels for the three-months ended September 30, 2026, a decrease of approximately 0.02 million barrels, or 14.2% lower than barrel sales of 0.11 million barrels for the three-months ended September 30, 2025.** **
Previous wording
Gross profit was $1.42 billion for the three-months ended June 30, 2026, an increase of approximately $243.2 million, or 20.7% higher than the gross profit of $1.18 billion for the three-months ended June 30, 2025. The increase in gross profit dollars was primarily the result of the increase in net sales.
Current wording
Gross profit was $1.40 billion for the three-months ended September 30, 2026, an increase of approximately $176.2 million, or 14.4% higher than the gross profit of $1.22 billion for the three-months ended September 30, 2025. The increase in gross profit dollars was primarily the result of the increase in net sales.
Previous wording
Gross profit as a percentage of net sales increased slightly to 55.9% for the three-months ended June 30, 2026 from 55.7% for the three-months ended June 30, 2025. The increase in gross profit as a percentage of net sales for the three-months ended June 30, 2026 was primarily the result of the Pricing Actions and product sales mix, partially offset by increased aluminum can costs, geographical sales mix and increased freight-in costs.
Current wording
Gross profit as a percentage of net sales decreased to 54.7% for the three-months ended September 30, 2026 from 55.7% for the three-months ended September 30, 2025. The decrease in gross profit as a percentage of net sales for the three-months ended September 30, 2026 was primarily the result of increased aluminum can costs, geographical sales mix and increased freight-in costs, partially offset by the Pricing Actions.
Previous wording
Total operating expenses were $679.2 million for the three-months ended June 30, 2026, an increase of approximately $134.4 million, or 24.7% higher than total operating expenses of $544.8 million for the three-months ended June 30, 2025.
Current wording
Total operating expenses were $682.0 million for the three-months ended September 30, 2026, an increase of approximately $132.9 million, or 24.2% higher than total operating expenses of $549.1 million for the three-months ended September 30, 2025.
Previous wording
The increase in operating expenses was primarily due to increased selling and marketing expenses of $72.3 million, distribution expenses of $36.8 million and payroll expenses of $18.0 million. The increase in selling and marketing expenses was primarily due to increased social, digital, media and other marketing expenses, including sponsorships and endorsements, in order to reach a broader consumer audience and increase household penetration. Operating expenses as a percentage of net sales for the three-months ended June 30, 2026 and 2025 were 26.8% and 25.8%, respectively.
Current wording
The increase in operating expenses was primarily due to increased general and administrative expenses of $53.7 million, selling and marketing expenses of $45.5 million and distribution expenses of $33.7 million. General and administrative expenses included a property and equipment impairment charge of $19.9 million and digital transformation expenses of $14.7 million for the three-months ended September 30, 2026. The increase in selling and marketing expenses for the three-months ended September 30, 2026 was primarily due to increased social, digital, media and other marketing expenses, including sponsorships and endorsements, in order to reach a broader consumer audience and increase household penetration. Operating expenses as a percentage of net sales for the three-months ended September 30, 2026 and 2025 were 26.6% and 25.0%, respectively.
Previous wording
Operating income was $740.4 million for the three-months ended June 30, 2026, an increase of approximately $108.8 million, or 17.2% higher than operating income of $631.6 million for the three-months ended June 30, 2025. Operating income as a percentage of net sales decreased to 29.2% for the three-months ended June 30, 2026 from 29.9% for the three-months ended June 30, 2025.
Current wording
Operating income was $718.7 million for the three-months ended September 30, 2026, an increase of approximately $43.4 million, or 6.4% higher than operating income of $675.4 million for the three-months ended September 30, 2025. Operating income as a percentage of net sales decreased to 28.0% for the three-months ended September 30, 2026 from 30.7% for the three-months ended September 30, 2025.
Previous wording
Operating income was $247.5 million and $164.1 million for the three-months ended June 30, 2026 and 2025, respectively, for our international operations, exclusive of Canada.
Current wording
Operating income was $268.9 million and $210.4 million for the three-months ended September 30, 2026 and 2025, respectively, for our international operations.
Previous wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $875.7 million for the three-months ended June 30, 2026, an increase of approximately $118.2 million, or 15.6% higher than operating income of $757.5 million for the three-months ended June 30, 2025. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in net sales.
Current wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $859.6 million for the three-months ended September 30, 2026, an increase of approximately $69.1 million, or 8.7% higher than operating income of $790.5 million for the three-months ended September 30, 2025. 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 $66.3 million for the three-months ended June 30, 2026, a decrease of approximately $1.5 million, or 2.2% lower than operating income of $67.9 million for the three-months ended June 30, 2025. The decrease in operating income for the Strategic Brands segment was primarily the result of an increase in operating expenses.
Current wording
Operating income for the Strategic Brands segment, exclusive of corporate and unallocated expenses, was $79.6 million for the three-months ended September 30, 2026, an increase of approximately $13.3 million, or 20.1% higher than operating income of $66.3 million for the three-months ended September 30, 2025. 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 $7.3 million for the three-months ended June 30, 2026, a decrease of approximately $7.3 million, or 49.9% lower than the operating loss of $14.6 million for the three-months ended June 30, 2025. The decrease in operating loss for the three-months ended June 30, 2026 was primarily due to decreased general administrative expenses.
Current wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $9.0 million for the three-months ended September 30, 2026, a decrease of approximately $8.9 million, or 49.6% lower than the operating loss of $17.9 million for the three-months ended September 30, 2025. The decrease in operating loss for the three-months ended September 30, 2026 was primarily due to decreased operating expenses.
Previous wording
Operating loss for the Other segment, exclusive of corporate and unallocated expenses, was $0.2 million for the three-months ended June 30, 2026, as compared to operating income of $1.3 million for the three-months ended June 30, 2025.
Current wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $0.4 million for the three-months ended September 30, 2026, as compared to operating income of $1.6 million for the three-months ended September 30, 2025.
Previous wording
Interest and other income, net, was $27.8 million for the three-months ended June 30, 2026, as compared to interest and other income, net, of $15.1 million for the three-months ended June 30, 2025. Interest income was $36.0 million and $18.1 million for the three-months ended June 30, 2026 and 2025, respectively. Interest expense was $0.8 million and $1.8 million for the three-months ended June 30, 2026 and 2025, respectively. Foreign currency transaction losses were $6.0 million and $2.1 million for the three-months ended June 30, 2026 and 2025, respectively.
Current wording
Interest and other income, net, was $34.8 million for the three-months ended September 30, 2026, as compared to interest and other income, net, of $14.2 million for the three-months ended September 30, 2025. Interest income was $41.3 million and $24.2 million for the three-months ended September 30, 2026 and 2025, respectively. Interest expense was $0.5 million for both the three-months ended September 30, 2026 and 2025. Foreign currency transaction losses were $4.8 million and $8.0 million for the three-months ended September 30, 2026 and 2025, respectively.
Previous wording
Provision for income taxes was $183.7 million for the three-months ended June 30, 2026, an increase of $25.8 million from the provision for income taxes of $157.9 million for the three-months ended June 30, 2025. The effective combined federal, state and foreign tax rate decreased to 23.9% from 24.4% for the three-months ended June 30, 2026 and 2025, respectively.
Current wording
Provision for income taxes was $185.1 million for the three-months ended September 30, 2026, an increase of $20.0 million from the provision for income taxes of $165.1 million for the three-months ended September 30, 2025. The effective combined federal, state and foreign tax rate increased to 24.6% from 23.9% for the three-months ended September 30, 2026 and 2025, respectively. The increase is primarily due to a lower stock-based compensation deduction and an increase in income from higher income tax jurisdictions in the three-months ended September 30, 2026. The increase is partially offset by a lower valuation allowance on foreign tax credit carryforwards in the three-months ended September 30, 2026.
Previous wording
Net income was $584.5 million for the three-months ended June 30, 2026, an increase of $95.7 million, or 19.6% higher than net income of $488.8 million for the three-months ended June 30, 2025.
Current wording
Net income was $568.4 million for the three-months ended September 30, 2026, an increase of $44.0 million, or 8.4% higher than net income of $524.5 million for the three-months ended September 30, 2025.
Previous wording
Gross billings for the Monster Energy® Drinks segment were $2.78 billion for the three-months ended June 30, 2026, an increase of approximately $480.5 million, or 20.9% higher than gross billings of $2.30 billion for the three-months ended June 30, 2025. 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 $52.1 million for the three-months ended June 30, 2026. Gross billings for the Monster Energy® Drinks segment on a foreign currency adjusted basis increased 18.6% for the three-months ended June 30, 2026.
Current wording
Net sales were $7.45 billion for the nine-months ended September 30, 2026, an increase of approximately $1.29 billion, or 20.9% higher than net sales of $6.16 billion for the nine-months ended September 30, 2025. 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 $145.9 million for the nine-months ended September 30, 2026. Net sales on a foreign currency adjusted basis increased 18.6% for the nine-months ended September 30, 2026.
Previous wording
Net sales for the Strategic Brands segment were $270.4 million for the six-months ended June 30, 2026, an increase of approximately $42.2 million, or 18.5% higher than net sales of $228.2 million for the six-months ended June 30, 2025. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Fury®, Predator® and Burn® brand energy drinks. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $10.6 million for the Strategic Brands segment for the six-months ended June 30, 2026. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 13.9% for the six-months ended June 30, 2026. 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 $426.8 million for the nine-months ended September 30, 2026, an increase of approximately $68.1 million, or 19.0% higher than net sales of $358.7 million for the nine-months ended September 30, 2025. Net sales for the Strategic Brands segment increased primarily due to increased sales of our Fury®, Burn® and Predator® brand energy drinks. Net changes in foreign currency exchange rates had a favorable impact on net sales of approximately $11.2 million for the Strategic Brands segment for the nine-months ended September 30, 2026. Net sales for the Strategic Brands segment on a foreign currency adjusted basis increased 15.8% for the nine-months ended September 30, 2026. 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 579.4 million cases for the six-months ended June 30, 2026, an increase of approximately 117.0 million cases or 25.3% higher than case sales of 462.4 million cases for the six-months ended June 30, 2025. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased marginally to $8.31 for the six-months ended June 30, 2026 from $8.39 for the six-months ended June 30, 2025.
Current wording
Case sales for our energy drink products, in 192-ounce case equivalents, were 884.3 million cases for the nine-months ended September 30, 2026, an increase of approximately 163.5 million cases, or 22.7% higher than case sales of 720.8 million cases for the nine-months ended September 30, 2025. The overall average net sales per case for our energy drink products (excluding net sales of Alcohol Brands and Other segments) decreased to $8.31 for the nine-months ended September 30, 2026 from $8.38 for the nine-months ended September 30, 2025.
Previous wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 4.6 million cases for the six-months ended June 30, 2026, a decrease of approximately 0.6 million cases or 11.3% lower than case sales of 5.2 million cases for the six-months ended June 30, 2025. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.22 million barrels for the six-months ended June 30, 2026, a decrease of approximately 0.03 million barrels or 11.3% lower than barrel sales of 0.25 million barrels for the six-months ended June 30, 2025.
Current wording
Case sales for our craft beers, FMBs and hard seltzers, in 192-ounce equivalents, were 6.6 million cases for the nine-months ended September 30, 2026, a decrease of approximately 0.9 million cases, or 12.2% lower than case sales of 7.6 million cases for the nine-months ended September 30, 2025. Barrel sales for our craft beers, FMBs and hard seltzers, in 31 U.S. gallon equivalents, were 0.32 million barrels for the nine-months ended September 30, 2026, a decrease of approximately 0.04 million barrels, or 12.2% lower than barrel sales of 0.37 million barrels for the nine-months ended September 30, 2025.
Previous wording
Gross profit was $2.71 billion for the six-months ended June 30, 2026, an increase of approximately $488.6 million, or 22.0% higher than the gross profit of $2.22 billion for the six-months ended June 30, 2025. The increase in gross profit dollars was primarily the result of the increase in net sales.
Current wording
Gross profit was $4.11 billion for the nine-months ended September 30, 2026, an increase of approximately $664.9 million, or 19.3% higher than the gross profit of $3.45 billion for the nine-months ended September 30, 2025. The increase in gross profit dollars was primarily the result of the increase in net sales.
Previous wording
Gross profit as a percentage of net sales decreased to 55.5% for the six-months ended June 30, 2026 from 56.1% for the six-months ended June 30, 2025. The decrease in gross profit as a percentage of net sales for the six-months ended June 30, 2026 was primarily the result of geographical sales mix, increased aluminum can costs and increased freight-in costs, partially offset by the Pricing Actions and product sales mix.
Current wording
Gross profit as a percentage of net sales decreased to 55.2% for the nine-months ended September 30, 2026 from 56.0% for the nine-months ended September 30, 2025. The decrease in gross profit as a percentage of net sales for the nine-months ended September 30, 2026 was primarily the result of geographical sales mix, increased aluminum can costs and increased freight-in costs, partially offset by the Pricing Actions and product sales mix.
Previous wording
Total operating expenses were $1.24 billion for the six-months ended June 30, 2026, an increase of approximately $219.6 million, or 21.5% higher than total operating expenses of $1.02 billion for the six-months ended June 30, 2025.
Current wording
Total operating expenses were $1.92 billion for the nine-months ended September 30, 2026, an increase of approximately $352.5 million, or 22.4% higher than total operating expenses of $1.57 billion for the nine-months ended September 30, 2025.
Previous wording
The increase in operating expenses was primarily due to increased selling and marketing expenses of $95.0 million, distribution expenses of $62.0 million and payroll expenses of $46.4 million. Operating expenses as a percentage of net sales for the six-months ended June 30, 2026 and 2025 were 25.4% and 25.8%, respectively.
Current wording
The increase in operating expenses was primarily due to increased selling and marketing expenses of $140.5 million, general and administrative expenses of $116.2 million and distribution expenses of $95.8 million. Operating expenses as a percentage of net sales for the nine-months ended September 30, 2026 and 2025 were 25.8% and 25.5%, respectively.
Previous wording
Operating income was $1.47 billion for the six-months ended June 30, 2026, an increase of approximately $269.0 million, or 22.4% higher than operating income of $1.20 billion for the six-months ended June 30, 2025. Operating income as a percentage of net sales decreased to 30.1% for the six-months ended June 30, 2026 from 30.3% for the six-months ended June 30, 2025.
Current wording
Operating income was $2.19 billion for the nine-months ended September 30, 2026, an increase of approximately $312.4 million, or 16.6% higher than operating income of $1.88 billion for the nine-months ended September 30, 2025. Operating income as a percentage of net sales decreased to 29.4% for the nine-months ended September 30, 2026 from 30.4% for the nine-months ended September 30, 2025.
Previous wording
Operating income was $481.3 million and $306.7 million for the six-months ended June 30, 2026 and 2025, respectively, for our international operations, exclusive of Canada.
Current wording
Operating income was $795.0 million and $542.0 million for the nine-months ended September 30, 2026 and 2025, respectively, for our international operations.
Previous wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $1.72 billion for the six-months ended June 30, 2026, an increase of approximately $286.7 million, or 19.9% higher than operating income of $1.44 billion for the six-months ended June 30, 2025. The increase in operating income for the Monster Energy® Drinks segment was primarily the result of an increase in net sales.
Current wording
Operating income for the Monster Energy® Drinks segment, exclusive of corporate and unallocated expenses, was $2.58 billion for the nine-months ended September 30, 2026, an increase of approximately $355.8 million, or 16.0% higher than operating income of $2.23 billion for the nine-months ended September 30, 2025. 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 $17.0 million for the six-months ended June 30, 2026, a decrease of approximately $19.1 million, or 53.0% lower than the operating loss of $36.1 million for the six-months ended June 30, 2025. The decrease in operating loss for the six-months ended June 30, 2026 was primarily due to decreased general administrative expenses.
Current wording
Operating loss for the Alcohol Brands segment, exclusive of corporate and unallocated expenses, was $26.0 million for the nine-months ended September 30, 2026, a decrease of approximately $28.0 million, or 51.9% lower than the operating loss of $54.0 million for the nine-months ended September 30, 2025. The decrease in operating loss for the nine-months ended September 30, 2026 was primarily due to decreased operating expenses.
Previous wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $0.2 million for the six-months ended June 30, 2026, as compared to operating income of $1.5 million for the six-months ended June 30, 2025.
Current wording
Operating income for the Other segment, exclusive of corporate and unallocated expenses, was $0.7 million for the nine-months ended September 30, 2026, as compared to operating income of $3.1 million for the nine-months ended September 30, 2025.
Previous wording
Interest and other income, net, was $48.0 million for the six-months ended June 30, 2026, as compared to interest and other income, net, of $23.3 million for the six-months ended June 30, 2025. Interest income was $64.6 million and $35.0 million for the six-months ended June 30, 2026 and 2025, respectively. Interest expense was $1.3 million and $5.8 million for the six-months ended June 30, 2026 and 2025, respectively. Foreign currency transaction losses were $12.8 million and $5.8 million for the six-months ended June 30, 2026 and 2025, respectively.
Current wording
Interest and other income, net, was $82.8 million for the nine-months ended September 30, 2026, as compared to interest and other income, net, of $37.5 million for the nine-months ended September 30, 2025. Interest income was $105.9 million and $59.1 million for the nine-months ended September 30, 2026 and 2025, respectively. Interest expense was $1.8 million and $6.3 million for the nine-months ended September 30, 2026 and 2025, respectively. Foreign currency transaction losses were $17.6 million and $13.8 million for the nine-months ended September 30, 2026 and 2025, respectively.
Previous wording
Provision for income taxes was $364.4 million for the six-months ended June 30, 2026, an increase of $71.5 million from the provision for income taxes of $292.9 million for the six-months ended June 30, 2025. The effective combined federal, state and foreign tax rate increased to 24.0% from 23.9% for the six-months ended June 30, 2026 and 2025, respectively.
Current wording
Provision for income taxes was $549.4 million for the nine-months ended September 30, 2026, an increase of $91.4 million from the provision for income taxes of $458.0 million for the nine-months ended September 30, 2025. The effective combined federal, state and foreign tax rate increased to 24.2% from 23.9% for the nine-months ended September 30, 2026 and 2025, respectively.
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