CORONA, CALIF. — New additions to the Monster Beverage Corp. family continued to add to the company’s sales in the third quarter.
In September, Monster debuted a spate of new products, including Monster Mule Ginger Brew, Reign Orange Dreamsicle, Monster Maxx Mango Magic and sugar-free Monster Maxx Rad Red extra strength. Other recent launches include Java Monster Farmer’s Oats, a vegan-friendly oat milk-based coffee drink, and two new Reign brand flavors.
Rodney Cyril Sacks, chairman and chief executive of Monster Beverage Corp., said the innovation pipeline won’t be slowing down anytime soon.
“There’s a movement generally on consumers to want to try new products, new flavors, new innovation,” he said during a Nov. 7 conference call with analysts. “We have plans to launch quite a lot of new innovation.”
International expansion remains a key part of Monster’s growth strategy. The company further expanded the Reign Total Body Fuel high performance and Predator value brands in Europe, introduced several new Monster Energy products across Asia and grew its coffee presence in several markets. It plans to introduce coffee products to an additional dozen markets in the fourth quarter and throughout 2020.
Net income at Monster Beverage Corp. in the third quarter ended Sept. 30 was $299 million, equal to 55c per share on the common stock, up 10% from $268 million, or 48c per share, in the same period a year ago.
Growth was led by the Monster Energy segment, which includes Monster Energy drinks and Reign Total Body Fuel energy drinks. Net sales for the segment were $1.06 billion, up 13.5% from $935 million last year.
Sales for the Strategic Brands segment, which includes brands acquired from the Cocoa-Cola Co., dropped 11% to $66.3 million from $74.4 million. Sales for the company’s Other segment, comprised of American Fruits and Flavors products sold to independent third parties, were $5.8 million, down 12% from $6.6 million a year ago.