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MONSTER BEVERAGE Monster Beverage Reports 2021 First Quarter Financial Results May 6 , 2021 -- Record First Quarter Net Sales Rise 17.1 Percent to $ 1.24 Billion -- -- First Quarter Net Income Increases 13.0 percent to $ 315.2 Million -- First Quarter Net Income per Diluted Share Increases 14.2 percent to $ 0.59 per share -- CORONA , Calif . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Monster Beverage Corporation ( NASDAQ : MNST ) today reported financial results for the three - months ended March 31 , 2021 . COVID - 19 Pandemic The Company's top priority remains the health , safety and well - being of its employees . The Company's flavor manufacturing facilities , its co - packers , warehouses and shipment facilities , have operated throughout the COVID - 19 pandemic . The Company's bottlers / distributors are operating and the Company's products remain generally available to consumers . In limited countries , the operations of the Company's bottlers / distributors have , in part , been negatively affected for varying periods of time . Despite the ongoing impact of the COVID - 19 pandemic , the Company achieved record first quarter net sales . Currently , the Company does not foresee a material impact on the ability of its co - packers to manufacture and its bottlers / distributors to distribute its products as a result of the COVID - 19 pandemic . The Company's supply chain remains largely intact . However , the Company is experiencing shortages in its aluminum can requirements in North America and Europe , given the Company's ume growth and current supply constraints in the aluminum can industry . The Company has taken steps to source additional quantities of aluminum cans from South America and Asia , however , logistical issues , including ocean freight and port of entry congestion could delay such supply . Logistical issues in relation to the importation of certain other raw materials and ingredients could impact future supply . As of March 31 , 2021 , the Company had $ 1.18 billion in cash and cash equivalents , $ 980.1 million in short - term investments and $ 63.8 million in long - term investments . Based on currently available information , the Company does not expect the COVID - 19 pandemic to have a material impact on its liquidity . First Quarter Results Net sales for the 2021 first quarter increased 17.1 percent to $ 1.24 billion , from $ 1.06 billion in the same period last year . Net changes in foreign currency exchange rates had a favorable impact on net sales for the 2021 first quarter of $ 9.3 million . 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 17.9 percent to $ 1.17 billion for the 2021 first quarter , from $ 992.5 million for the 2020 first quarter . Net changes in foreign currency exchange rates had a favorable impact on net sales for the Monster Energy® Drinks segment of approximately $ 9.3 million for the 2021 first quarter . Net sales for the Company's Strategic Brands segment , which primarily includes the various energy drink brands acquired from The Coca - Cola Company , as well as the Company's affordable energy brands , increased 5.1 percent to $ 67.8 million for the 2021 first quarter , from $ 64.5 million in the 2020 first quarter . Net changes in foreign currency exchange rates had no significant impact on net sales for the Strategic Brands segment for the 2021 first quarter . Net sales for the Company's Other segment , which includes certain products of American Fruits and Flavors , LLC , a wholly - owned subsidiary of the Company , sold to independent third - party customers ( the " AFF Third - Party Products " ) , increased to $ 5.7 million for the 2021 first quarter , from $ 5.1 million in the 2020 first quarter . Net sales to customers outside the United States increased 28.8 percent to $ 459.4 million in the 2021 first quarter , from $ 356.8 million in the 2020 first quarter . Such sales were approximately 37 percent of total net sales in the 2021 first quarter , compared with 34 percent in the 2020 first quarter . Gross profit as a percentage of net sales , for the 2021 first quarter was 57.5 percent , compared with 60.0 percent in the 2020 first quarter . The decrease in gross profit as a percentage of net sales for the 2021 first quarter was primarily the result of increased input costs ( mainly increased raw material freight - in costs ) , geographical sales mix , and higher promotional allowances as a percentage of net sales . Operating expenses for the 2021 first quarter were $ 300.8 million , compared with $ 272.2 million in the 2020 first quarter . As a percentage of net sales , operating expenses for the 2021 first quarter were 24.2 percent , compared with 25.6 percent in the 2020 first quarter . Distribution costs as a percentage of net sales were 4.4 percent for the 2021 first quarter , compared with 3.7 percent in the 2020 first quarter . Selling expenses as a percentage of net sales for the 2021 first quarter were 9.2 percent , compared with 10.3 percent in the 2020 first quarter . General and administrative expenses for the 2021 first quarter were $ 131.9 million , or 10.6 percent of net sales , compared with $ 124.1 million , or 11.7 percent of net sales , for the 2020 first quarter . Stock - based compensation was $ 18.4 million for the first quarter of 2021 , compared with $ 17.1 million in the 2020 first quarter . Operating income for the 2021 first quarter increased to $ 414.1 million , from $ 365.0 million in the 2020 first quarter .