Energy drink company Monster Beverage (NASDAQ:MNST) will be reporting results tomorrow afternoon. Here's what investors should know.
Monster met analysts' revenue expectations last quarter, reporting revenues of $1.90 billion, up 11.8% year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates.
Is Monster a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Monster's revenue to grow 8.5% year on year to $2.01 billion, slowing from the 12.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.45 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Monster has missed Wall Street's revenue estimates six times over the last two years.
Looking at Monster's peers in the beverages and alcohol segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Coca-Cola delivered year-on-year revenue growth of 2.9%, beating analysts' expectations by 4.8%, and Constellation Brands reported revenues up 5.8%, in line with consensus estimates. Coca-Cola traded up 1.6% following the results while Constellation Brands's stock price was unchanged.
Read our full analysis of Coca-Cola's results here and Constellation Brands's results here.
Investors in the beverages and alcohol segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Monster is up 2% during the same time and is heading into earnings with an average analyst price target of $58.6 (compared to the current share price of $51.2).
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