MONSTER Beverage reported a surprise fall in first-quarter (Q1) revenue on Thursday, signaling consumers in the US pared back spending on pricey energy drinks amid economic uncertainty.
MONSTER Beverage reported a surprise fall in first-quarter revenue on Thursday, signaling consumers in the US pared back spending on pricey energy drinks amid economic uncertainty. Colder weather in January and high inflation in February led to softer consumer spending, impacting sales during the quarter. The company also attributed the decline in net sales to changes in ordering patterns of bottlers and distributors in the United States and Europe, and foreign currency headwinds.
The tariffs, however, were not expected to have a material impact on the company's overall results, executives said on a post-earnings call. Beverages giant Coca-Cola warned last month that macroeconomic uncertainty due to tariffs could hurt consumer sentiment, despite topping quarterly results estimates. Net sales for Monster energy drinks segment, which houses the namesake brand and Reign Total Body Fuel products, fell 0.8 percent to $1.72 billion. Its total net revenue fell 2.
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