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Call sheet · Q2'26

Monster Beverage (MNST)

Q2'26 earnings call · held August 6, 2026 · compared with the Q1'26 call · management-credibility review
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Disclosure score
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Financial quality
Bottom line
Monster's growth is substantial and its balance sheet is strong. The report does not establish manipulation. The useful investor tests are narrower: whether customer collections catch up with sales, whether inventory converts without heavier promotion, and whether pricing restores operating leverage after higher marketing and distribution costs. Hedge gains help earnings, but explain only a modest portion of Q2 profit. [1][3][5][7]

What changed this quarter

MetricQ1'26Q2'26Change
Revenue, Q2 YoY$2.112B$2.537B; +20.2%Constant-currency growth +17.9%; FX added $48.5M.
Net income, Q2 YoY$488.8M$584.5M; +19.6%Strong earnings growth; operating profit grew more slowly than sales.
Diluted EPS, Q2$0.50 pre-split / $0.25 split-adjusted$0.59 pre-split / $0.30 split-adjustedUse the same share basis on both sides; rounded EPS is not exact growth.
Operating margin, Q229.9%29.2%Down approximately 73 basis points from detailed statements.
June net receivables / inventory$1.523B / $658.2M$1.902B / $867.7MYoY +24.9% / +31.8%; growth exceeds sales.
First-half CFO / net income104.5%96.5%CFO $1.114B; PP&E-only FCF $1.045B.
Commodity hedge gains, H1 after tax$3.0M$26.1MQ2 alone contributed $14.0M, equivalent to ~0.71 cent/share after split.
Early next-quarter salesApril total-company FX-neutral growth +21.6%July total-company FX-neutral growth +13.5%A slower monthly indicator, not Q3 guidance or a promise miss.

Accountability tracked

3 prior promises scored
Inside the full report
The complete write-up covers the full promise ledger with kept/missed calls, disclosure-quality scoring, the metrics-vanished check, verification items, and the questions to ask next quarter.
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Scores, kept-promise rates, and flags on this site reflect the author's opinion, applying a stated methodology to statements management made on public earnings calls. Informational and educational purposes only - not investment advice, a recommendation, or an offer to buy or sell any security. Sources believed reliable but not guaranteed; the author may hold positions in the securities discussed.

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