Monster Beverage (MNST) reported Q3 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.66 billion.
The Company announced today that its Board of Directors has authorized a new share repurchase program for the repurchase of up to an additional $500.0 million of the Company’s outstanding common stock. The Company expects to make the share repurchases from time to time in the open market, through privately-negotiated transactions, by block-purchase or through other transactions managed by broker-dealers or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and the share repurchases may be suspended or discontinued at any time