Monster Beverage Corp (NASDAQ:NASDAQ:MNST) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ETCompany ParticipantsRodney Sacks - Chairman & CEOThomas Kelly - EVP, Finance,. Thanks operator and good afternoon. According to Nielsen, in the 13-week period until the end of February 2022, Predator's retail market shares in value as compared to the same period the previous year grew from 14.5% to 23.3% in Kenya, and from 3.3% to 14.7% in Nigeria. Monster's retail market shares in value as compared to the same period the previous year declined from 20.7% to 20.3% in South Africa. Monster sales increased 13.3% and its market share remained at 37.1%. In Argentina, we launched VR46 The Doctor. Roy G. Saltman, who as the federal government's top expert on voting technology wrote a prescient but little-read report warning about hanging chads on punch-card ballots more than a decade . Your U.S. sales continue to come in very strong again this quarter and show a sustained decoupling versus the scanner data, implying obviously very strong growth in the untracked channels. Ideology score: 4.9L. Rodney Cyril Sacks (born 1949) is a South African billionaire businessman, chairman, and CEO of Monster Beverage since 1990. The decrease in gross profit as a percentage of net sales for the 2022, first quarter was partially offset by pricing actions. And what we believe is fair and that the consumer will bear, that becomes a very big factor in assessing the price points and then, of course, assessing the extent of the price increase. Monster's Energy continues to be the leading energy brand in value in Argentina. Previously held government jobs. During the comparative 2021, first quarter, the company decreased expenditures for travel and entertainment as well as our marketing programs largely as a consequence of the COVID-19 pandemic. Traditionally, the convenience channel was growing more quickly for the energy category than the mainstream grocery and drug channels. MEC and Orange Bang allege that VPX reached a 2010 settlement agreement with Orange Bang that restricted VPX's use of the Bang trademark to products that are creatine based or marketed and sold only in nutritional channels as well as claims at VPX infringed Orange Bang's trademark rights to the Bang marks. Thank you for attending today's presentation. Gross profit, as a percentage of net sales, for the 2022, first quarter was 51.1% compared with 57.5% in the 2021, first quarter. Our AFF flavor facility in Ireland is now providing a large number of flavors to our EMEA region, enabling better service levels and lower landed costs to our EMEA region. Equinox is owned by New-York based Related companies, the real estate behemoth developing the Hudson Yards project on New Yorks west side. Please disable your ad-blocker and refresh. In the United States, the company secured additional co-packing capacity to meet increased demand for certain of its products. So contributing to candidates who vote against same-sex marriage and abortion rights would earn a more conservative rating, while giving to environmental causes or gay-rights backers would earn a more liberal rating. During the 2022, first quarter, the company continued to procure additional quantities of aluminum cans from suppliers in the United States and abroad in response to increased consumer demand. In China, net sales decreased 8.9% in dollars and 10.8% in local currency as compared to the same quarter in 2021, largely impacted by COVID-related lockdowns. Public asset : 89,496,414 USD. Monster sales increased 28.9%. I think we said at the time that we were building up inventories and that's what we've been doing. We hope that you will stay safe and healthy. We are planning to continue additional launches of our Reign, Total Body Fuel high-performance energy drinks in additional international countries. The left-to-right, 20-point scale ranges from 10L for extremely liberal to 10C for extremely conservative, with 0 representing somebody whos perfectly centrist. The Wealthy Corporations Bankrolling the Politicians Who Could - Medium Mike Madsden, the President & CEO of Honeywell Aerospace, sits on the board of the Greater Phoenix Economic Council, a powerful business lobbying group in Arizona. The company continued to address the challenges in its supply chain as it navigates through the uncertainty of the current global supply chain environment. Ideology score: 6.7C.The billionaire hedge-fund manager and CEO donates below his weight, with most donations ranging from $1,000 to $2,500. American democracy has always been fraught and our elections have never truly been fair or free. Home Depot (Georgia)Atlanta-based Home Depot is a major political player in Georgia. Our two new suppliers of aluminum cans in the United States are now operational. But as I said on a previous call, we're running our own brand, irrespective of the competitors. Political affiliation means the state of belonging to or endorsing any political party. Rick Newmans latest book is Liberty for All: A Manifesto for Reclaiming Financial and Political Freedom. 1. Here's the full methodology for generating this list: Crowdpac maps politicians across an ideological spectrum based on how they vote, the political behavior of groups theyre affiliated with and other factors. His family is one of the wealthiest in Florida and his daughter and grandchildren are major Trump donors. And since we only analyzed public companies, the leaders of private companies such as Charles Koch, the conservative activist who's CEO of privately held Koch industries, didnt make our list either. Derek Borer, the group's company secretary and an alternative non-executive director to Sacks, also resigned from the board with immediate effect. As I said earlier, Monster is an affordable luxury, and we don't anticipate at this time seeing a dramatic falloff in sales in the convenience and gas channel. J effrey Sachs, the world-renowned economist who leads Columbia University's sustainable-development program, has advised three U.N. secretaries-general, is the author of numerous books, and. And then turning to your second question about gas prices. In South Korea, net sales increased 71.7% in dollars and 86.1% in local currency as compared to the same quarter in 2021. But he has . Reign sales decreased 2%, NOS was down 2.3%, and Full Throttle was up 7.1%. It certainly doesn't sound that way, but I just wanted to ask given the step-down from what we saw from very strong results in the quarter. The most liberal and conservative CEOs - Yahoo Finance Notably missing: Democrat backers. Rodney Sacks - Wikipedia I guess just a short question. According to Nielsen, for the 4 weeks ended April 23, 2022 sales, in dollars, of the coffee plus energy drink category, which includes our Java Monster line in the convenience and gas channel decreased 5.3% over the same period the previous year. Operating expenses for the 2022, first quarter was $377.2 million, compared with $300.8 million in the 2021, first quarter. Collectively, these ten states account for 179 electoral votes. So we're as well placed as we have been in the past to satisfy demand. 2. Menard was named to Trumps Great American Economic Revival advisory group for retail earlier this year. Although we expect to reduce the importation of aluminum cans into EMEA in the second half of 2022, we will only see a reduction in cost of sales after we have worked through current inventories of imported cans in EMEA. Among the winning candidates Allen has contributed to: Sen. Joni Ernst and Rep. Linda Miller, both from Iowa. They need to start to repair the damage they have already done to the political process by taking back their donations to politicians that try to overturn the will of the voters, but in the future, they need to keep their dirty money out of our elections. Ford hosted Trump at one of its plants earlier this year, while he was campaigning for reelection. The company is also monitoring the opportunity for additional pricing actions internationally as well as in the United States. Sales of 5-Hour decreased 1.2% and VPX Bang's sales decreased 8.1%. ABC Supply (Wisconsin)Diane Hendricks, who is the co-founder, chair, and sole owner of this wholesale distributor of residential construction materials, is one of the wealthiest billionaires in Wisconsin. The company assumes no obligations to update any forward-looking statements, whether as a result of new information, future events. Publix CEO Todd Jones is a member of Florida Governor Rick DeSantiss Re-Open Florida Task Force. Updated by the minute, our Dallas Cowboys NFL Tracker: News and views and moves inside The Star and around the league . About Rodney Sacks. His brother was art collector Leslie Sacks. Kelcy Warren, Energy Transfer Partners (ETP): 6.9C. Because Bang branded products are thus not creatine based, and are not limited to nutritional channels, the arbitrator found they are being sold in breach of the settlement agreement. Fords PAC is a major donor to Republicans nationally and in Michigan. You may recall that in our 2021, first quarter conference call to shareholders, we estimated that April 2021 sales were approximately 71.3% higher than in April 2020. Schlifske is a powerful political figure in Milwaukee and an officer of the Metropolitan Milwaukee Association of Commerce. The market share of the company's energy drink brands was 41.5% down 0.7 points. Click here to sign our petition telling these #GOPcorps to stop bankrolling the politicians who suppress our votes. It's really difficult for us to get that information to this investor group. Gross profit in this region, as a percentage of net sales, was 35.4% for the 2022, first quarter versus 37.9% in the 2021, first quarter. As we look at the quarter, remember, the Ukraine conflict started on February 24. Second, we have right-wing politicians enacting a series of tactics meant to suppress the votes of BIPOC communities. Trump added Hendricks to his economic advisory council in 2016 after Hillary Clinton criticized him for not having any women on it. Ross is old friends with Trump and arranged a major fundraiser for him in the Hamptons in 2019. According to Nielsen, in South Korea, in the last month ending March 2022, Monster's market shares in value in all outlets combined, as compared to the same period the previous year, grew from 54.8% to 59.4%. The company continues to address challenges in its supply chain by sourcing cans and primary ingredients and blends, increasing its manufacturing capacity and increasing finished product inventories. In addition, increased commodity and raw materials costs, including aluminum, other ingredient costs and secondary packaging incurred during the quarter, amounted to approximately $45 million, and increases in freight rates and fuel impacted gross profits by approximately $6 million. In Oceana, which includes Australia, New Zealand, Tahiti, French Polynesia, New Caledonia, Papua New Guinea and Guam, net sales decreased 13.8% in dollars and 7.9% in local currencies. Linked companies : Monster Beverage Corporation. You mentioned a few things, but just trying to confirm that you've already seen improvement or is it really going to take until the second half until we see improvements on your gross margins? Meijer (Michigan)Meijer PAC and CEO Hank Meijer are major donors to Michigan Republicans. We already took pricing up, as we mentioned, through pricing actions, and we will be taking pricing up effective September 1. We are proceeding with plans to launch our affordable energy brands in an additional number of international countries. And then, Rodney, can you help us understand maybe where things stand now as it relates to some of these pressures. And in recent quarters, that had been reversed with less -- lower driving through COVID and then you've got higher gas prices. Tom Kelly will now read our cautionary statement. Please. Pursuant to the terms of the agreement between MEC and Orange Bang, the award and future royalties will be shared equally between MEC and Orange Bang. Hi, thank you. And we said approximately 6% depending on channel. Among the 2016 presidential candidates, for instance, Bernie Sanders ranks as most liberal with a score of 7.6L, while Rand Paul is most conservative with a score of 10C. SACKS, RODNEY C. LAGUNA BEACH, CA 92651: Monster Beverage Corp/Executive: $5,000: 03/19/2014: P: TIM MURPHY FOR CONGRESS - Republican: Search: Contributors . Please note this event is being recorded. However, the general stability for the full-year average obscures a dramatic shift over the . Party each state voted for in presidential elections by number of wins U.S. 1900-2020. Remember the hurdle we had in '21, that was probably one of the biggest hurdles we've seen. I would now like to turn the conference over to Rodney Sacks and Hilton Schlosberg. Rockstar was down 1.7%. During the 2022, first quarter, we also launched Predator and Reign in additional countries. Jeffrey Sachs' Pro-China Views Shaped COVID-19 Debate - National Review Gross profit in this region, as a percentage of net sales, for the first quarter was 29.6% compared to 37.3% in the same quarter in 2021. Dating & Relationship status He is currently single. We are calling on these wealthy elites and executives to publicly pledge to demand back all the money they have given to any elected official that refuses to honor the results of a full, fair, and accurate count of all mail-in and in-person ballots in their state or takes any action to prevent all the ballots from being counted. Please refer to our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K filed on February 28, 2022, including the sections contained therein, risk factors and forward-looking Statements for a discussion on specific risks and uncertainties that may affect our performance. Number of times each state voted for each political party in presidential elections in the United States from . 'Passing on the Right' nails the failed comic to conservative pundit a Sales in Australia and New Zealand were negatively impacted by shipping delays of certain flavors, concentrates and ingredients. Everything you should know about the CEO of Monster Energy Foreign currency exchange rates had a negative impact on net sales in U.S. dollars by approximately $32.9 million in the 2022, first quarter. Trumps Secretary of Defense, Mark Esper, is a former Raytheon vice president and was the corporations top lobbyist until Trump named him Secretary of the Army in 2017. Rick Perrys 2012 presidential bid, kicking in $250,000. According to the Nielsen reports for the 13 weeks through April 23, 2022, for all outlets combined, namely convenience, grocery, drug, mass merchandisers, sales in dollars in the energy drink category, including energy shots, increased by 11.5% versus the same period a year ago. If you could quantify that for us, that would be helpful. Voters defeated the measure. AT&Ts PACs are major donors to Republicans- both nationally, and in Texas and Georgia. Can you just review for us what level of growth you're seeing in those untracked channels? The arbitrated rewarded MEC and Orange Bang $175 million to remedy VPX's past misconduct and attorney's fees and costs, which amounted to nearly $9.3 million. We estimate April 2022 sales including CANarchy to be approximately 6.7% higher than in April 2021 and 4.8% higher than in April 2021, excluding CANarchy. Our next question comes from Andrea Teixeira from JPMorgan. You may now disconnect. Jennifer Anderson, a Wells Fargo executive, was named one of the most influential women in Arizona business in 2015 and a top business leader of 2020 by AZ Big Media, and is the Treasurer of the Arizona Bankers Association and a former executive board member of the Greater Phoenix Economic Council. Political division in the United States - Statistics & Facts The most egregious of all voter suppression tactics being discussed is the idea that legislatures in swing states should select a Republican slate of electors to send to the electoral college, regardless of the popular vote. I'm Rodney Sacks. Roger Ferguson, TIAA-CREF: 8.9L. CEOs are people, too. CEO Fisk Johnson is a major donor to Wisconsin Republicans and a member of Trumps Presidents Council of Advisors on Science and Technology. Governor Ron DeSantis Makes Three Judicial Appointments He received his bachelor's degree from the University of Richmond and his law degree from Florida State University. ACRE: Action Center on Race and the Economy, Presidents Council of Advisors on Science and Technology, Rick DeSantiss Re-Open Florida Task Force, Metropolitan Milwaukee Association of Commerce, most influential women in Arizona business. Operating expenses as a percentage of net sales for the 2022, first quarter were 24.8% as compared to operating expenses as a percentage of net sales for the 2019, first quarter pre-COVID, which was 27.7%. We believe in the power of our brand, and we have strong brands, and we believe that this pricing action is justified. Diluted earnings per share for the 2022, first quarter decreased 6.8% to $0.55 from $0.59 in the first quarter of 2021. Good afternoon, ladies and gentlemen. CEO Marvin Ellison was named to Trumps Great American Economic Revival advisory group for retail earlier this year. In the United States, we anticipate seeing a reduction in cost of sales related to the use of imported aluminum cans in the latter half of 2022. Like what youre reading? 4. [Operator Instructions] Our first question comes from Dara Mohsenian from Morgan Stanley. In Japan, net sales in the 2022, first quarter decreased 5.8% in dollars, but increased 3.4% in local currency. Operational income -- sorry, operating income for the 2022, first quarter decreased 3.5% to $399.5 million from $414.1 million in the 2021 comparative quarter, primarily due to the company's operations in EMEA and Asia Pacific. And is that across -- great, and is that across all products and channels or balanced with RGM? In Mexico, we launched our second predator SKU with Predator Mean Green. We are enthusiastic about the opportunities that CANarchy presents. According to Nielsen, in the 13-week period ending March 27, 2022, Monster's retail market shares in value as compared to the same period the previous year, grew from 25.5% to 27.1% in Denmark, from 31.9% to 32.1% in France, from 27.9% to 29.3% in Great Britain, from 27.2% to 27.6% in Norway, from 18.1% to 21.4% in Poland, from 36% to 37.8% in Spain, and from 14.9% to 15.9% in Sweden. Birth Date: January 2, 1951. CEO Gregory Hayes was named to Trumps Great American Economic Revival advisory group for defense earlier this year. Due to continued cost pressures, the company is planning for a net sales price increase in the range of 6% market-wide in the United States effective September 1, 2022. According to INTAGE in Japan, in the last month ending March 2022, Monster's market shares in value in the convenience store channel as compared to the same period the previous year, grew from 50.1% to 52.5%. Ford Motor Company (Michigan)Dearborn-based Ford is one of the largest employers in Michigan and a major power player in the state. Let me just deal with the first part of your question, Bonnie, and then we can obviously get Rodney's input on the rest. Avoiding politics is political, no matter what Rabbi Sacks says On behalf of Monster, I'd like to thank everyone for their continued interest in the company. Our bottler in Chile is in the process of validating its new production line in order to increase our in-country production. His father was also a respected businessman in Johannesburg, and his name was Wolfe Harry Sacks. Our co-packing network is an integral part of the company's production model, which we intend to preserve. Yes, thanks and good afternoon guys. John Kenneally, a Monster Energy vice president accused of sexually harassing two different women at the company, has resigned after HuffPost published details of his behavior last week. We've absolutely been building up inventories in the quarter, and you'll see that reflected in our balance sheet. Raytheon-owned Pratt & Whitney is also building a large, $650 million plant in Asheville, NC. Raytheon Missile Systems (Arizona)Arizona-based Raytheon is a major defense contractor and manufacturer of warfare technology and weapons. His support of Democrats isnt surprising. In -- the company is continuing to address the controllable challenges in its supply chain in EMEA. Menard is a major donor to Wisconsin Republicans and a good friend to Trump. Great. Rodney Sacks - Forbes We're probably in a good position now, better than we have been in terms of supply. The threat of state legislatures overriding the will of voters is especially high in states like Pennsylvania, Wisconsin, and Michigan, where rules against processing mail-in ballots before Election Day make it highly likely that the final results will not be known for days after the election and the tally will shift drastically from Trump to Biden as mail-in ballots are counted. Blankfeins biggest check, $28,500, went to the Democratic Senatorial Campaign Committee in 2007a pre-crisis year that may have represented peak bonhomie between Democrats and Wall Street. CEO Lynn Good is also a major donor to North Carolina Republicans. McMullen was named to Trumps Great American Economic Revival advisory group for retail earlier this year. Sales of Predator increased 67% and its market share increased 0.9 of a share point to 3.7%. We launched our third Super Fuel flavor in Tropical Thunder. Josh DAmaro, President of the Walt Disney World Resort in Orlando is a member of Florida Governor Rick DeSantiss Re-Open Florida Task Force. U.S. Political Party Preferences Shifted Greatly During 2021 - Gallup.com Honeywell hosted Trump to tour the facilities at its Phoenix campus earlier this year, which has been repurposed to make N95 masks in light of the COVID-19 pandemic. It's not something that's necessarily that price-sensitive and that made us kind of feel confident about our decision to take up pricing later this year. Highlights, big interviews, and more from the Milken Institute Global Conference, Uber Q1 earnings preview: Mobility and Delivery expected to drive growth, UPDATE 1-IMF's Georgieva says more vulnerabilities in banking sector may be exposed, Bill would allow 14-year-olds to serve alcohol in Wisconsin, Stocks rise as JPMorgan Chase takes over First Republic: Stock market news today, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021. The company continued to experience additional global supply chain challenges, including the lack of adequate shipping containers and port congestion, which resulted in shortages of certain ingredients and finished products. Management cautions that these statements are based on our current knowledge and expectations, and are subject to certain risks and uncertainties, many of which are outside the control of the company that may cause actual results to differ materially from the forward-looking statements made during this call. So we have taken pricing actions. Thank you. In the first quarter of 2022, the company experienced significant increases in cost of sales relative to the comparative 2021, first quarter, primarily due to increased freight rates and fuel costs, including costs relating to the importation of aluminum cans, as well as aluminum can costs attributable to higher aluminum commodity pricing. According to IRI in New Zealand, Monster's market shares in value for the 4 weeks ended April 17, 2022, increased from 12.7% to 12.9%, as compared to the same period the previous year. Ashley Furniture (Wisconsin & Florida)Wisconsin-based Ashley Furniture is the largest furniture store in the US and is owned by father-and-son duo Ronald and Todd Wanek. And Nielsen is not a true indication even for sales through the distributor system, because the lags in the distribution system as well. Although the Uihleins live in the Chicago suburbs, they have been particularly influential in Wisconsin, where their company is based, and in state legislative races in swing states like Arizona. REVOLVING DOOR. Since 2010, Watson has given $120,000 to the National Republican Senatorial Committee, hitting the the annual maximum donation for that type of committee each year. Second, we must demand accountability from the corporations bankrolling the politicians that are willing to subvert the will of voters (click here to sign our petition). But all the money goes to Republicans, including 2012 presidential candidate Mitt Romney, Sen. So thank you for that guys. Net sales in Mexico increased 37.7% in dollars and 41.4% in local currency in the 2022, first quarter. Country of residence : Unknown. Political affiliation Definition | Law Insider The way we got to our price increase is -- price increase, remember, we're already taking pricing actions. Kohler (Wisconsin)Herbert Kohler, the executive chairman of this plumbing fixture manufacturing company, is one of Wisconsins wealthiest billionaires and a major donor to Wisconsin Republicans. He is no longer "the quick-witted victor but the hero of moral courage who stands tall in the eyes of humanity and God.". The increase in other operating expenses was primarily due to increased expenditures for travel and entertainment, increased payroll expenses, increased professional services expenses, including accounting and legal expenses, increased commissions and increased sponsorships and endorsements. For this story, Crowdpac analyzed donations from CEOs of the 100 largest public U.S. companies, and Yahoo Finance considered only those CEOs who gave to two or more different causes or candidates during the last 15 years, to eliminate those who might have had a passing interest in a single issue. Although AT&T is best known as a telecommunications company, it is also a media giant that acquired WarnerMedia last year. Furthermore, the company experienced significant increases in distribution expenses, including increased fuel, freight and warehousing costs, which adversely impacted operating expenses. John Watson, Chevron (CVX): 6.7C. Samuel Allen, Deere & Co. (DE): 7.3C Allen has donated to some of the most conservative candidates and groups Crowdpac tracks, including several candidates for statewide office in Iowa, where Allen lives. Conference has now concluded. In February of 2022, we grew Canada's Reign portfolio by launching Rain White Gummy Bear. Ideology score: 4.9L. Following the purchase, the facility will be closed for a period of time, before the company is able to commence production. It's worth noting that two other Wall Street CEOs -- James Gorman of Morgan Stanley (MS) and Jamie Dimon of J.P. Morgan Chase (JPM) --ranked 6 and 7 among the most liberal CEOs, just behind Blankfein. Sales of Reign were down 6.1%. Duke also praised Trumps decision last year to decline to set uranium production quotas.
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