Monster is also looking to save money by using up its higher cost imported aluminum can inventory, a process that should wrap up in 2023, Sacks added. Some of the increase in manufacturing costs “ are likely to be transitory,” and costs like freight expenses have already start to come down, said Sacks. Transitory but certain costs aren’t going away These increases will be in addition to the price increases that the brand announced last September. This dip was attributed to increased cost increases in ingredients, packaging materials, and co-packing fees geographical and product sales mix and logistical costs, Sacks said.ĭue to these factors, Monster “ will continue to review further opportunities for price increases and pricing actions in order to mitigate inflationary pressures,” Sacks said. Additionally, operating expenses rose to $1.59bn from $1.31bn, and operating income decreased to $1.58bn from $1.80bn from the comparable period last year.įor the fourth quarter of 2022, gross profits as a percentage of net sales were at 51.8%, down from 53.9% for the same period in 2021. 31, 2022, Monster saw gross profits at 50.3%, down from 56.1% from the same period last year. Looking at its fiscal year for the twelve-month ending Dec.
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