Monster Beverage delivered better-than-expected results in Q3, reflected in a significant positive market reaction following the report. Management attributed the quarter’s performance to robust category growth globally, particularly in international markets, and successful new product launches. CEO Hilton Schlosberg highlighted the company’s strong execution in the U.S. and EMEA, as well as the continued outperformance of the Monster Energy Ultra line, which benefited from viral marketing and strong retail execution. The company’s ability to implement pricing actions and optimize its supply chain further supported margin expansion.

Is now the time to buy MNST? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Monster’s Q3 Earnings Call

• Dara Mohsenian (Morgan Stanley) asked what is fueling Monster’s share acceleration in EMEA and how it compares to the U.S. market. CEO Hilton Schlosberg explained that a combination of value proposition, brand image, and social media-driven innovation brought in new consumers and drove outperformance.
• Peter Grom (UBS) inquired about the sustainability of strong category growth given tougher future comparisons. Schlosberg said growth is supported by increasing household penetration and innovation, but did not provide specific guidance for long-term trends.
• Matthew Smith (Stifel) questioned how price increases would impact channel dynamics and consumer demand. Chief Growth Officer Rob Gehring described a balanced approach between rate and volume, with an expectation of minimal volume impact due to category affordability.
• Bonnie Herzog (Goldman Sachs) asked why gross margins were stronger than previously indicated. Schlosberg attributed margin gains to pricing actions, supply chain improvements, and a favorable sales mix toward zero sugar products.
• Kaumil Gajrawala (Jefferies) sought clarity on the margin impact of affordable energy drinks in international markets. Schlosberg responded that while concentrate-based affordable offerings are positive for margin, the effect is limited by international pricing dynamics and cost structures.

Catalysts in Upcoming Quarters

Looking ahead, our analysts will be monitoring (1) the impact of recent and upcoming product launches—including female-focused and zero sugar offerings—on consumer adoption and sales mix, (2) the effectiveness of pricing adjustments and trade spend optimization in sustaining margins without sacrificing volume, and (3) the scale and profitability of international expansion, particularly in EMEA and Asia Pacific. We will also track how Monster manages regulatory changes and input cost pressures.

Monster currently trades at $70.71, up from $66.42 just before the earnings. In the wake of this quarter, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members).

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