![]() In order to satisfy increased demand, we have secured aluminium cans in excess of our contracted volumes from the United States, South America and Asia, with expected deliveries increasing sequentially during the latter half of the year. Schlosberg, said: “The Company experienced challenges keeping up with demand in the second quarter in the United States and in EMEA, largely as a result of a shortage in aluminium cans. Vice Chairman and Co-Chief Executive Officer Hilton H. We are planning for additional launches during the second half of 2021,” Sacks added. “In the second quarter of 2021, we continued to secure distribution in both our domestic and international markets for our products, including our new products introduced earlier this year. “The energy drink category, and in particular our Monster Energy brand, continues to demonstrate sustained growth in most of our markets. ![]() Sacks, Chairman and Co-Chief Executive Officer, said: “We are pleased with our record financial results for the second quarter, despite the impact of the Covid-19 pandemic and particularly of the Delta variant. The decrease in gross profit as a percentage of net sales for the 2021 second quarter was primarily the result of geographical sales mix and increased input costs (mainly increased raw material freight-in costs and aluminum can costs). Gross profit as a percentage of net sales, for the 2021 second quarter was 57.2 percent, compared with 60.3 percent in the 2020 second quarter. Net changes in foreign currency exchange rates had a favourable impact on net sales for the Monster Energy Drinks segment of approximately $35.5 million for the 2021 second quarter. Net sales for the Company’s Monster Energy Drinks segment, which primarily includes the Company’s Monster Energy drinks and Reign Total Body Fuel high performance energy drinks, increased 33.0 percent to $1.37 billion for the 2021 second quarter, from $1.03 billion for the 2020 second quarter. Net changes in foreign currency exchange rates had a favorable impact on net sales for the 2021 second quarter of $38.6 million. Net sales for the 2021 second quarter increased 33.6 percent to $1.46 billion, from $1.09 billion in the same period last year. ![]() The adverse impact of the COVID-19 pandemic on the Company’s net sales was more pronounced in the comparative 2020 second quarter. Based on currently available information, the Company does not expect the COVID-19 pandemic to have a material impact on its liquidity. The Company has taken steps to source additional quantities of aluminium cans from the United States, South America and Asia, however, logistical issues, including shortages of shipping containers and port of entry congestion, could delay the ongoing international supply of aluminium cans.Īs of June 30, 2021, the Company had $1.58 billion in cash and cash equivalents, $969.0 million in short-term investments and $91.0 million in long-term investments. As a result, the Company has not been able to fully satisfy demand in the United States and EMEA in the 2021 second quarter. The company is also experiencing delays in procuring certain ingredients, both domestically and internationally. Despite achieving record second quarter net sales, the company continues to experience shortages in its aluminium can requirements in North America and Europe.
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