"Increased commodity and raw materials costs, including aluminum, other ingredient costs and secondary packaging incurred during the quarter, amounted to approximately $45m, and increases in freight rates and fuel impacted gross profits by approximately $6m," Sacks said on the company's Q1 2022 earnings call last week. ![]() Operating expenses for Q1 2022 came in at $377.2m, up from $300.8m in Q1 2021. While the company did see a strong year-over-year increase in net sales for Q1 2022, its total operating expenses also increased significantly as it dealt with external factors such as volatility in shipping and freight costs and rising prices for ingredients and packaging materials. “The global energy drink category continues its growth trend, and we remain well placed to capitalize on this growth with our Monster Energy family of brands," said Monster Energy CEO Rodney Sacks in a press statement. Net sales for the company's energy drink segment which includes its core energy drink brands (Monster, Reign, NOS, etc.) increased 20% to $1.4bn for the quarter while its 'Strategic Brands' segment registered a 36.6% increase in net sales to $92.6m. Emulsifiers, stabilizers, hydrocolloidsįor Q1 2022, Monster Energy saw net sales increase 22.1% to $1.52bn. ![]() Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).Plant-based, alt proteins, precision fermentation.
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