Sales of Java Monster, including Java Monster 300 and Java Monster Nitro Cold Brew were 2.4% higher in the same period versus the previous year. In this regard, we caution again that sales over a short period are often disproportionately impacted by various factors such as, for example, selling days, days of the week in which holidays fall, timing of new product launches, and the timing of price increases, and promotions in retail stores, distributor incentives as well as shifts in the timing of production, in some instances where our bottlers are responsible for production, and unilaterally determine their production schedules, which affects the dates on which we invoice such bottlers, as well as inventory levels maintained by our distribution partners, which they alter unilaterally for their own business reasons. Additionally, GAAP requires a first value step-up of the CANarchy inventories of $3.8 million, which together with expenses related to the acquisition of CANarchy of $4.2 million during the quarter, adversely affected both gross margins and operating expenses. Sales of Monster increased by 5.7% over the same period versus the previous year. Bank of America (North Carolina)Charlotte-based Bank of America is a major power player in North Carolina politics, donating to both Republicans and Democrats alike. According to Nielsen, for the 4 weeks ended April 23, 2022 sales, in dollars, of the coffee plus energy drink category, which includes our Java Monster line in the convenience and gas channel decreased 5.3% over the same period the previous year. Monster's market share in value increased 0.8 of a share point to 28.3% against the comparable period the previous year. The Nielsen statistics for Mexico cover single months, which is a short period that may often be materially influenced positively and/or negatively by sales in the OXXO convenience chain, which dominates the market. According to Nielsen, for the 4 weeks ended April 23, 2022, sales in dollars in the energy drink category in the convenience and gas channel, including energy shots in dollars, increased 3.8% over the same period the previous year. We will update Rodney Sacks's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. Thanks. The threat of state legislatures overriding the will of voters is especially high in states like Pennsylvania, Wisconsin, and Michigan, where rules against processing mail-in ballots before Election Day make it highly likely that the final results will not be known for days after the election and the tally will shift drastically from Trump to Biden as mail-in ballots are counted. Your U.S. sales continue to come in very strong again this quarter and show a sustained decoupling versus the scanner data, implying obviously very strong growth in the untracked channels. Ross is old friends with Trump and arranged a major fundraiser for him in the Hamptons in 2019. Distribution expenses for the 2022, first quarter increased to $81.4 million, which is an increase of 49.7% or 5.4% of net sales compared to $54.4 million or 4.4% of net sales in the 2021, first quarter. The decrease in gross profit as a percentage of net sales for the 2022, first quarter was partially offset by pricing actions. First, we must demand that all states count and honor every vote. Editor's note: This story has been corrected to indicate that John Deere is based in Illinois, not Iowa. Sacks worked as a lawyer in South Africa, and was the youngest person to be made a partner of Werksmans, the country's largest corporate law firm. Monster Beverage Corp (NASDAQ:NASDAQ:MNST) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ETCompany ParticipantsRodney Sacks - Chairman & CEOThomas Kelly - EVP, Finance,. Our two new suppliers of aluminum cans in the United States are now operational. Net sales to customers outside the U.S. were $553.4 million, 36.4% of total net sales in the 2022, first quarter compared to $459.4 million or 36.9% of total net sales in the corresponding quarter in 2021. Hendricks is a major donor to Wisconsin Republicans, the Republican National Committee, and Trump. Mother's market shares in value decreased from 11.5% to 10.4% during the same period. [Operator Instructions] Our first question comes from Dara Mohsenian from Morgan Stanley. Thanks very much. Please go ahead. Ashley Furniture (Wisconsin & Florida)Wisconsin-based Ashley Furniture is the largest furniture store in the US and is owned by father-and-son duo Ronald and Todd Wanek. In Asia Pacific, net sales in the 2022, first quarter increased 1.9% in dollars and increased 9.4% in local currencies over the same period in 2021. Publix (Florida)This Florida-based grocery giant with stores all over the Southeast is a major donor to Florida Republicans. Gross profit, as a percentage of net sales, for the 2022, first quarter was 51.1% compared with 57.5% in the 2021, first quarter. 5-Hour share was lower by 0.4 of a point to 4.4%. In the contentious 2020 election season, the other side is employing two key strategies to stop BIPOC communities voices from being heard. The Republican legislatures of these states will decide whether or not to honor the results of a full, fair, and accurate count of all mail-in and in-person ballots. Public asset : 89,496,414 USD. In February 2022, we launched our newest brand nationally, True North Pure Energy Seltzer in 4, 12-ounce flavors through the Coca-Cola distribution network. PNC Financial (Pennsylvania)Pittsburgh-based PNC is one of the largest banks in the US, with branches all over the eastern half of the country. So we're as well placed as we have been in the past to satisfy demand. Rodney's full name is Rodney Cyril Sacks, born in 1950 into a Lithuanian-Jewish family in South Africa. Thanks operator and good afternoon. Traditionally, the convenience channel was growing more quickly for the energy category than the mainstream grocery and drug channels. But hes donated to only one candidate, according to public records: Barack Obama, whose 2008 presidential campaign got $2,300 from Cook. Thank you guys and good afternoon. Northwestern Mutual (Wisconsin)Northwestern Mutual is a Fortune 500 financial services company based in Milwaukee. Our bottler in Chile is in the process of validating its new production line in order to increase our in-country production. Jennifer Anderson, a Wells Fargo executive, was named one of the most influential women in Arizona business in 2015 and a top business leader of 2020 by AZ Big Media, and is the Treasurer of the Arizona Bankers Association and a former executive board member of the Greater Phoenix Economic Council. Rodney Cyril Sacks was born into a Lithuanian-Jewish family, he grew up in South Africa. You may recall that in our 2021, first quarter conference call to shareholders, we estimated that April 2021 sales were approximately 71.3% higher than in April 2020. Company: Monster Beverage Corporation. How politically active a donor is, or how much he gives overall, doesnt matter; ideology ratings reflect the types of candidates and causes donors are likely to support, not the depth of that support. Click here to sign our petition telling these #GOPcorps to stop bankrolling the politicians who suppress our votes. Comcast (Pennsylvania, Michigan, & Florida)Philadelphia-based Comcasts PAC is a major donor to Pennsylvania Republicans, contributing more than $100,000 to the Pennsylvania House and Senate Republican Campaign Committees in the 2020 cycle alone. We already took pricing up, as we mentioned, through pricing actions, and we will be taking pricing up effective September 1. Please go ahead. Sacks and Monster's co-CEO Hilton Schlosberg, are native South Africans. P&Gs PAC is a major donor to Republicans nationally and in Ohio. The powerful DeVos family is a major Republican donor, both nationally and in Michigan, and active in politics. This entire interview with director Rodney Sacks provides insight into the company's success, marketing strategy, history, and decision-making. The Action Center on Race & the Economy (ACRE) is a campaign hub for organizations working at the intersection of racial justice and Wall Street accountability. Rodney Cyril Sacks is an American businessman and the CEO of Monster Beverage. But all the money goes to Republicans, including 2012 presidential candidate Mitt Romney, Sen. In Chile, we expanded our Reign line by launching Melon Mania Lemon Heads and Orange Dreamsicle. Our co-packing network is an integral part of the company's production model, which we intend to preserve. He has been running Monster . The next question comes from Kevin Grundy from Jefferies. Political affiliation means the state of belonging to or endorsing any political party. Rodney Sacks et al., case number 8:20-cv-01782, in the U.S. District Court for the Central District of California. Dukes PAC is a major donor to Republicans, both at the federal level and in North Carolina. I would now like to hand the call over to Rodney Sacks. Corporate money has been flooding into politics since a pair of recent Surpeme Court decisions allowed corporations and wealthy people to make unlimited campaign contributions to groups known as super PACs, which can spend as much money as they want supporting a given candidate or cause. Full Throttle sales decreased 14.9% and its market share decreased 0.2 of a share point to 0.05 share points. And then, Rodney, can you help us understand maybe where things stand now as it relates to some of these pressures. Collectively, these ten states account for 179 electoral votes. Fords PAC is a major donor to Republicans nationally and in Michigan. The DeVos family members are also part owners of the NBAs Orlando Magic. We believe that we are well positioned in the beverage industry and continue to be optimistic about the future of our company. Derek Borer, the group's company secretary and an alternative non-executive director to Sacks, also resigned from the board with immediate effect. Declaring those values and acting on them are two different things, and Glassman hasn't had a political office to demonstrate those principles. Dicks wife is Betsy DeVos, Trumps Secretary of Education. Tom Kelly will now read our cautionary statement. Kroger (Ohio)Krogers PAC and CEO Rodney McMullen have both been major donors to Ohio Republicans. Georgia Governor Brian Kemp and Atlanta Mayor Keisha Lance Bottoms were both honorary co-chairs of the event, and even Trump made a video appearance and thanked Marcus for his advice and friendship. And at the end of the day, remember that we have a business that is based on a brand, that is a lifestyle brand, and consumers purchase the Monster product because it's part of what they believe to be, and it's what they want to be. In Chile, Monster's retail share for the month of March 2022 decreased from 40% to 36.3%, due to a shortage of shipping containers. At 73 years old, Rodney Sacks height not available right now. Wells Fargos head of consumer banking, Mary Mack, was named to Business North Carolinas Power 100 in 2020. They bought the . There will always -- all I can say is there will always be a disconnect. As we have gradually built power and fought for changes that upended the racial and economic order, we have seen our elected officials and major corporations serve as guardians of the status quo and rig the system again and again in a deliberate attempt to stop progress. Let me just deal with the first part of your question, Bonnie, and then we can obviously get Rodney's input on the rest. Share. Schlifske is a powerful political figure in Milwaukee and an officer of the Metropolitan Milwaukee Association of Commerce. Greg Abbott, donating nearly $500,000 to his campaigns since 2006. Rodney Sacks, chairman and chief executive officer of Hansen Natural Corp., Corona, Calif., in conjunction with his executive team comprised of Hilton Schlosberg, vice chairman and president of Hansen Natural, and Mark Hall, president of Monster Beverage Co., lead the company once known solely for its namesake natural beverages to international growth as the producer of one of the top-selling . Birth Place: Africa. Maybe just comment on the magnitude of it, how you arrived at that, why you believe that's the appropriate number? 5. The impact of the COVID-19 pandemic was less pronounced on such expenses during the 2022, first quarter. Please keep in mind that the comparative 2020 sales were materially adversely impacted by the COVID-19 pandemic. Gross profit in the first quarter was impacted by higher aluminum commodity pricing, increased freight for imported cans, increased raw material and ingredient costs, as well as airfreight costs. Age : 72. J effrey Sachs, the world-renowned economist who leads Columbia University's sustainable-development program, has advised three U.N. secretaries-general, is the author of numerous books, and. The company continued to experience additional global supply chain challenges, including the lack of adequate shipping containers and port congestion, which resulted in shortages of certain ingredients and finished products. According to Nielsen, in South Korea, in the last month ending March 2022, Monster's market shares in value in all outlets combined, as compared to the same period the previous year, grew from 54.8% to 59.4%. John Watson, Chevron (CVX): 6.7C. Please. Founder and Chairman Dan Gilbert watched the returns of the 2018 midterm elections in the White House with Trump himself, who referred to Gilbert as a great friend. Gilbert, who is a major political power broker in Michigan, leveraged his friendship with Trump to get a special designation from the administration for his real estate holdings in Downtown Detroit, which allowed the billionaire to get a massive tax break. Both Ronald and Todd were also major donors to Scott Walker. Rodney Cyril Sacks (born 1949) is a South African billionaire businessman, chairman, and CEO of Monster Beverage since 1990. Coming on the heels of the Parkland school shooting earlier that year, Publix made its largest single political donation ever to Adam Putnam's failed campaign for the Republican nomination for . The arbitrator also found that VPX's Bang branded product infringe Orange Bang's trademarks. Updated by the minute, our Dallas Cowboys NFL Tracker: News and views and moves inside The Star and around the league . Thats right, the Wall Street banker who runs a firm vilified as the great vampire squid has liberal leanings. Java Monster's share including Java Monster 300 and Java Monster Nitro Cold Brew of the coffee plus energy category, which primarily included Java Monster, Java Monster 300, Java Monster Cold Brew, Starbucks Doubleshot and Tripleshot, Rockstar Roasted and Bang Keto Coffee, for the 4 weeks ended April 23, 2022, was 55.3%, up 4.2 points, while Starbucks Energy share was 42.9%, down 3.1 points. The most egregious of all voter suppression tactics being discussed is the idea that legislatures in swing states should select a Republican slate of electors to send to the electoral college, regardless of the popular vote. I think we said at the time that we were building up inventories and that's what we've been doing. 4. September 1, there will be a market-wide increase. Publix was founded by billionaire George Jenkins. According to Nielsen, in the 13-week period ending April 2, 2022, Monster's retail market shares in value as compared to the same period of the previous year, grew from 14.7% to 16.2% in Germany. If the COVID-19 pandemic and related unfavorable economic conditions continue in certain regions, our new product innovation launches in those regions could be delayed. During the 2022, first quarter, the company continued to procure additional quantities of aluminum cans from suppliers in the United States and abroad in response to increased consumer demand. They also spent $26 million nationally in the 2018 election cycle. We further call on them to donate those refunds to BIPOC-led grassroots community organizations engaged in voter registration drives in BIPOC communities in the state. Mike Madsden, the President & CEO of Honeywell Aerospace, sits on the board of the Greater Phoenix Economic Council, a powerful business lobbying group in Arizona. John Kenneally, a Monster Energy vice president accused of sexually harassing two different women at the company, has resigned after HuffPost published details of his behavior last week. Peter . The sales growth of the Monster brand exceeded that of Red Bull in the period. Procter & Gamble (Ohio)Cincinnati-based Procter & Gamble is a consumer goods corporation that specialties in personal health, personal care, and hygiene products and owns brands like Always, Bounty, Charmin, Crest, Dawn, Downy, Febreze, Gain, Gillete, Head & Shoulders, Olay, Oral-B, Pampers, Pantene, Tide, and Vicks, among many others. The CEO of this Dallas pipeline company is a huge supporter of Republican Texas Gov. We believe that a portion of the increase in distribution expenses that we experienced in the quarter are likely to be transitory. Watson also donates occasionally to Democrats, including $2,600 he gave in 2014 to Sen. Mary Landrieu of Louisiana, an important energy-industry ally who ended up losing her reelection bid. Furthermore, sales in Australia were also impacted by severe flooding in that country in the 2022, first quarter. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Corporations have been allowed to further corrupt the electoral process in the US by pouring millions into buying off politicians who put their interests ahead of the communities they are supposed to represent. Lowes (North Carolina)North Carolina-based Lowes is a major donor to Republicans, both nationally and in the state. Early life. Rick Perrys 2012 presidential bid, kicking in $250,000. In February of 2022, we introduced new flavor innovations with Ultra Peachy Keen, Juice Monster Aussie Style Lemonade, Rehab Watermelon and Reign Reignbow Sherbet. The company achieved record first quarter net sales of $1.52 billion in the 2022, first quarter, 22.1% higher than net sales of $1.24 billion in the 2021 comparable period. In our 2020, first quarter conference call to shareholders, we estimated that April 2020 sales were 22.2% lower than our April 2019 sales. So Dara, turning to your first question, there's always a disconnect between our sales, which are sales in the main to distributors and as well, we sell, obviously, to some direct accounts, including the untracked channels. On behalf of Monster, I'd like to thank everyone for their continued interest in the company. Please note this event is being recorded. We remain optimistic about the prospects for the Monster brand in China. Trumps Secretary of Defense, Mark Esper, is a former Raytheon vice president and was the corporations top lobbyist until Trump named him Secretary of the Army in 2017. The arbitrator found that VPX's Bang energy drinks, which VPX advertisers containing super creatine and other branded products do not contain creatine, and do not provide the benefits of creatine. The only thing I would maybe add just from one aspect. In addition, increased commodity and raw materials costs, including aluminum, other ingredient costs and secondary packaging incurred during the quarter, amounted to approximately $45 million, and increases in freight rates and fuel impacted gross profits by approximately $6 million. What are the key drivers behind it? Gross profit in this region, as a percentage of net sales, for the first quarter was 29.6% compared to 37.3% in the same quarter in 2021. McMullen was named to Trumps Great American Economic Revival advisory group for retail earlier this year. Since 2008, Blankfein has donated to both Republicans (Sen. Did not previously hold government jobs: 12.90%. We estimate April 2022 sales including CANarchy to be approximately 6.7% higher than in April 2021 and 4.8% higher than in April 2021, excluding CANarchy. So there were unexpected issues that surfaced in the quarter. Here's the full methodology for generating this list: Crowdpac maps politicians across an ideological spectrum based on how they vote, the political behavior of groups theyre affiliated with and other factors. Rodney Stark, the influential and controversial sociologist who argued for rational choice in religion, died last month at age 88. Disney (Florida)The California-based Walt Disney Company is a large media conglomerate that owns the major Disney brands, ABC, FX, ESPN, National Geographic, Pixar, Hulu, and other subsidiaries. Included in reported geographic sales are our sales to the company's military customers, which are delivered in the U.S. and transshipped to the military and their customers overseas. According to IRI in Australia, Monster's market shares in value for the month ending April 10, 2022, increased from 13% to 13.6%, as compared to the same period the previous year. We again point out that in certain market statistics that cover single months or 4-week periods may often be materially influenced positively and/or negatively by promotions or other trading factors during those periods. If you could quantify that for us, that would be helpful. According to Nielsen, for the 4 weeks ended April 23, 2022, the company's market shares of the energy drink category in the convenience and gas channel, including energy shots in dollars, increased 0.4 of a point to 37.5%. That kept a few prominent CEOs off our lists. According to IRI in New Zealand, Monster's market shares in value for the 4 weeks ended April 17, 2022, increased from 12.7% to 12.9%, as compared to the same period the previous year. We launched our third Super Fuel flavor in Tropical Thunder. The $27 million increase in distribution expenses was primarily due to increased freight out costs of $20.6 million as a result of higher outbound freight rates and fuel, increased volume and out-of-orbit freight, as well as higher warehouse expenses of $6.4 million as a result of higher raw material and finished good product inventories in the United States and EMEA. MEC and Orange Bang allege that VPX reached a 2010 settlement agreement with Orange Bang that restricted VPX's use of the Bang trademark to products that are creatine based or marketed and sold only in nutritional channels as well as claims at VPX infringed Orange Bang's trademark rights to the Bang marks. In February of 2022, we grew Canada's Reign portfolio by launching Rain White Gummy Bear. In Argentina, we launched VR46 The Doctor. We are planning to continue additional launches of our Reign, Total Body Fuel high-performance energy drinks in additional international countries. The cost of repositioning finished products to distribution centers are included in freight-in costs. Rodney, on the 6% price increase starting in September in the U.S., I'm assuming that's on top of the 3% average that you had in Q1. Please go ahead. Meijer (Michigan)Meijer PAC and CEO Hank Meijer are major donors to Michigan Republicans. It's worth noting that two other Wall Street CEOs -- James Gorman of Morgan Stanley (MS) and Jamie Dimon of J.P. Morgan Chase (JPM) --ranked 6 and 7 among the most liberal CEOs, just behind Blankfein. According to Nielsen, in all measured channels in Canada, for the 12 weeks ended March 26, 2022, the energy drink category increased 13.5% in dollars. The company continues to address challenges in its supply chain by sourcing cans and primary ingredients and blends, increasing its manufacturing capacity and increasing finished product inventories. And as we also said on this call is that April, we did not have a shortage of containers or product to any significant degree. I will now discuss our litigation with Vital Pharmaceuticals, Inc., which I will refer to as VPX, the maker of Bang energy drinks. WASHINGTON, D.C. -- On average, Americans' political party preferences in 2021 looked similar to prior years, with slightly more U.S. adults identifying as Democrats or leaning Democratic (46%) than identified as Republicans or leaned Republican (43%).