Stock Alert: Monster Beverage Slides As Q1 Earnings Misses Estimates

Monster Beverage Corp. (MNST) shares are down on Friday morning trade as the first-quarter earnings missed analysts' estimates. Quarterly earnings grew from the prior year on revenue growth. Further, the beverage company said it is experiencing shortages in its aluminum can requirements in North America and Europe.

Currently, shares are at $89.58, down $5.70 percent from the previous close of $95.02. For the 52-week period, the shares have traded in a range of $63.38-$99.24 on average volume of 1,982,564.

For the first quarter the company reported net income of $413.39 million or $0.59 per share, up from $278.84 million or $0.52 per share in the previous year.

On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.61 per share. Analysts' estimates usually exclude special item.

Revenue for the quarter increased to $1.243 billion from $1.062 billion in the prior year. Analysts expected $1.22 billion.

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