Monster Beverage Q2 Net Sales Up 20.2% to $2.54 Billion; Coca-Cola Revenue Up 7% to $13.4 Billion
Monster Beverage reported second-quarter 2026 net sales of $2.54 billion, up 20.2% year over year, with international sales climbing 34.6% to 46% of total sales. Coca-Cola, which holds a 19.5% stake in Monster, posted a 7% rise in quarterly net revenue to $13.4 billion. Coca-Cola raised its full-year outlook, projecting organic revenue growth of about 5% and comparable earnings per share growth of 9% to 10%.
Coca-Cola holds approximately a 19.5% stake in Monster Beverage and has served as its global distribution partner since 2015, when it acquired a 16.7% equity interest for $2.15 billion. Monster Beverage completed a 2-for-1 stock split on August 11, 2026, and retains a $900 million share repurchase authorization.
For the second quarter of 2026, Monster's net sales increased 20.2% to $2.54 billion. International sales grew 34.6% and accounted for 46% of total sales, up from 45% in the first quarter. Latin America rose 56.1%, with Brazil up 82% and Mexico up 29.5%; the Asia-Pacific region grew 35.7%, with China up 62.5% and India up 84%; the United States and Canada increased 11.5%. Gross margin improved to 55.9%, and diluted earnings per share reached $0.59, up 19% year over year.
Coca-Cola's second-quarter 2026 net revenue rose 7% to $13.4 billion, with organic revenue up 6% and global unit case volume up 5%. Gross margin was 62.9%, and comparable operating margin was 35.6%. Driven by World Cup marketing campaigns, trademark Coke volume grew 5%, the strongest increase in 17 years, while Powerade volume rose 8%. Management raised its full-year guidance to organic revenue growth of about 5%, comparable earnings per share growth of 9% to 10%, and free cash flow of approximately $12.4 billion. Coca-Cola's stake in Monster is valued at roughly $18 billion, while Coca-Cola's own market capitalization stands at about $370 billion.