Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Monster Beverage Corp., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
A sustained upward trajectory in net sales is evident over the analyzed period, with quarterly revenues increasing from 945.9 million US dollars in March 2019 to 1.899 billion US dollars by March 2024. This growth reflects a consistent expansion of the top line, although seasonal fluctuations are observable, typically peaking in the second and third quarters of each fiscal year.
- Revenue and Gross Profitability
- While absolute gross profit grew from 573.5 million US dollars in March 2019 to 1.027 billion US dollars in March 2024, the growth rate of the cost of sales has frequently outpaced revenue growth. This suggests a gradual compression of the gross profit margin over the five-year window. Specifically, cost of sales rose from 372.4 million US dollars to 871.9 million US dollars, indicating increasing pressure from production or raw material costs.
- Operating Performance and Expense Management
- Operating income demonstrated a general increase, rising from 311.4 million US dollars in the first quarter of 2019 to 541.9 million US dollars in the first quarter of 2024. This improvement was achieved despite a steady rise in operating expenses, which grew from 262.0 million US dollars to 485.1 million US dollars over the same period. The data indicates that the company has been able to scale its operations while maintaining a positive, albeit fluctuating, operating margin.
- Net Income and Non-Operating Impacts
- Net income grew from 261.4 million US dollars in March 2019 to 442.0 million US dollars in March 2024. A notable anomaly occurred in December 2020, where net income spiked to 471.7 million US dollars, primarily driven by a positive provision for income taxes of 70.9 million US dollars, which acted as a tax benefit rather than an expense. Additionally, significant volatility is observed in interest and other income, most notably a peak of 71.3 million US dollars in September 2023, which contributed to a temporary increase in income before taxes.
- Taxation and Bottom-Line Trends
- Provision for income taxes has generally trended upward in alignment with higher taxable income, moving from 52.7 million US dollars in March 2019 to 135.6 million US dollars in March 2024. Despite the increased tax burden and rising operating costs, the overall net income trend remains positive, reflecting the strength of the underlying sales growth.
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