8-KEarnings & ResultsOther EventsExhibits & Filings

Monster Beverage Corp 8-K Report, Financial Results (Nov 3, 2022)

Filed November 3, 2022For Securities:MNST

Summary

Monster Beverage Corporation (MNST) filed an 8-K on November 3, 2022, primarily to announce its third-quarter 2022 financial results via an accompanying press release. While the full financial statements will be detailed in their upcoming 10-Q filing, this 8-K provides an initial look at the company's performance for the quarter ended September 30, 2022. In addition to the financial results announcement, the company also announced a significant expansion of its capital return program. Monster Beverage's Board of Directors has authorized a new share repurchase program, allowing for the repurchase of up to an additional $500.0 million of its outstanding common stock. This new program, alongside an existing available repurchase amount, signals management's confidence in the company's financial position and commitment to returning value to shareholders.

Key Highlights

  • 1The 8-K serves as an announcement of Monster Beverage's third-quarter 2022 financial results, with details expected in the subsequent 10-Q filing.
  • 2A new share repurchase program of up to $500.0 million has been authorized by the Board of Directors.
  • 3This new repurchase authorization is in addition to approximately $182.8 million remaining under the June 2022 repurchase program.
  • 4The company will host a conference call on November 3, 2022, at 2:00 p.m. Pacific Time to discuss its financial results.
  • 5The press release furnished with this 8-K (Exhibit 99.1) is the primary source of initial financial performance information.
  • 6Share repurchases will be executed through various market mechanisms, including open market purchases and privately negotiated transactions.
  • 7The timing and execution of the new repurchase program are subject to market conditions and may be suspended or discontinued.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly announce Monster Beverage Corporation's financial results for the third quarter ended September 30, 2022, and to announce the authorization of a new, significant share repurchase program.

The full financial statements, related footnotes, and other financial information for the third quarter will be filed with the Securities and Exchange Commission as part of Monster Beverage's Quarterly Report on Form 10-Q.

Monster Beverage has authorized a new repurchase program for up to an additional $500.0 million of its common stock. Combined with the approximately $182.8 million remaining under the June 2022 program, the total available for repurchases is substantial.

The company expects to make 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, subject to applicable laws and market conditions.