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OFFON

MONSTER BEVERAGE CORPORATION

(MNST)
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MONSTER BEVERAGE BOARD AUTHORIZES NEW $500.0 MILLION SHARE REPURCHASE PROGRAM

03/13/2020 | 03:16pm EDT

CORONA, Calif., March 13, 2020 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ:MNST) today announced that its Board of Directors has authorized a new share repurchase program for the repurchase of up to $500.0 million of the Company’s outstanding common stock. As of March 11, 2020, approximately $536.6 million remained available for repurchase under the Company’s previously authorized repurchase programs. The Company expects to make the share repurchases from time to time in the open market, through privately-negotiated transactions, by block-purchase or through other transactions managed by broker-dealers, or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and the share repurchases may be suspended or discontinued at any time.

Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster® non-carbonated espresso + energy drinks, Caffé Monster® non-carbonated energy coffee drinks, Monster Rehab® non-carbonated tea + energy drinks, Muscle Monster® non-carbonated energy shakes, Monster Hydro® non-carbonated refreshment + energy drinks, Monster HydroSport Super Fuel® non-carbonated advanced hydration + energy drinks, Monster Dragon Tea® non-carbonated energy teas, Reign Total Body Fuel™ high performance energy drinks, Reign Inferno™ thermogenic fuel high performance energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Play® and Power Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks, Live+® energy drinks and Predator® energy drinks. For more information, visit www.monsterbevcorp.com.

Caution Concerning Forward-Looking Statements

Certain statements made in this announcement may constitute “forward-looking statements” within the meaning of the U.S. federal securities laws, as amended, regarding the expectations of management with respect to our future operating results and other future events including revenues and profitability. The Company cautions that these statements are based on management’s current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company, that could cause actual results and events to differ materially from the statements made herein. Such risks and uncertainties include, but are not limited to, our ability to implement the share repurchase programs. For a more detailed discussion of these and other risks that could affect our operating results, see the Company’s reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2019. The Company’s actual results could differ materially from those contained in the forward-looking statements, including with respect to the share repurchase programs. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS:Rodney C. Sacks
 Chairman and Chief Executive Officer
 (951) 739-6200
  
 Hilton H. Schlosberg
 Vice Chairman
 (951) 739-6200
  
 Roger S. Pondel / Judy Lin Sfetcu
 PondelWilkinson Inc.
 (310) 279-5980

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ę GlobeNewswire 2020
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Financials (USD)
Sales 2021 5 364 M - -
Net income 2021 1 386 M - -
Net cash 2021 1 894 M - -
P/E ratio 2021 35,0x
Yield 2021 -
Capitalization 48 501 M 48 501 M -
EV / Sales 2021 8,69x
EV / Sales 2022 7,80x
Nbr of Employees 3 340
Free-Float 58,9%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 102,71 $
Last Close Price 91,76 $
Spread / Highest target 28,6%
Spread / Average Target 11,9%
Spread / Lowest Target -17,2%
EPS Revisions
Managers and Directors
NameTitle
Rodney Cyril Sacks Chairman & Co-Chief Executive Officer
Hilton Hiller Schlosberg Vice Chairman & Co-Chief Executive Officer
Thomas J. Kelly CFO & Principal Accounting Officer
Gary P. Fayard Independent Director
Benjamin M. Polk Independent Director
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