Monster Beverage Beats Expectations, But Mentions Shortages

Monster Beverage Corp. shares fell nearly 6% late Tuesday after the company beat second-quarter earnings and sales expectations but spoke of production shortages. Monster reported a net income of $222.6 million, or 39 cents a share, compared with $184.2 million, or 30 cents a share, in the same period last year. Sales rose 10% to $907.1 million, from $827.5 million in the second quarter of 2016. Analysts polled by FactSet had expected earnings of 39 cents a share on sales of $903 million. "Our 2017 second quarter results continued to be adversely impacted by unfavorable currency exchange rates as well as production shortages of our Java Monster and Muscle Monster products," Monster Chief Executive Rodney Sacks said in a statement.