Monster Beverage · Earnings release · 8-K Exhibit 99

PondelWilkinson Inc.

Investor Relations

Strategic Public Relations

W www.pondel.com

NEWS

RELEASE

CONTACTS:

Rodney C. Sacks

Chairman and Co-Chief Executive Officer

Hilton H. Schlosberg

Vice Chairman and Co-Chief Executive Officer

Roger S. Pondel / Judy Lin

PondelWilkinson Inc.

MONSTER BEVERAGE REPORTS 2025 FIRST QUARTER

RESULTS

2025 First Quarter Highlights

·

Gross Profit as a Percentage of Net Sales Improves to 56.5 Percent

·

Operating Income Increases 5.1 Percent to $569.7 Million (7.9 Percent to $591.2 Million, Exclusive of the Alcohol Brands Segment,

Non-GAAP)

·

Net Income Per Diluted Share Increases 7.4 Percent to $0.45 (10.2 Percent to $0.47, Exclusive of the Alcohol Brands Segment,

Non-GAAP)

The tables at the end of this press release

provide a reconciliation of non-GAAP financial measures to the Company’s results, as reported under GAAP. (See “Reconciliation

of GAAP and Non-GAAP Information” below).

Corona,

CA – May 8, 2025 – Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three-months

Net sales for the 2025 first quarter were negatively

impacted by bottler/distributor ordering patterns in the United States and EMEA, adverse changes in foreign currency exchange rates, decreased

sales in the Alcohol Brands segment, adverse weather, one less selling day in the 2025 first quarter, as well as uncertain economic conditions.

Net sales, excluding the Alcohol Brands segment,

on a foreign currency adjusted basis (non-GAAP), increased 1.9 percent in the 2025 first quarter.

Reported net sales for the 2025 first

quarter decreased 2.3 percent to $1.85 billion, from $1.90 billion in the comparable period last year.

The Company estimates that year-to-date gross billings,

excluding the Alcohol Brands segment, on a foreign currency adjusted basis (non-GAAP), through April 30, 2025 were approximately

6.9 percent higher (5.8 percent higher including the Alcohol Brands segment) than the comparable period in the previous year.

(more)

Monster Beverage Corporation

Net sales for the Company’s Monster Energy®

Drinks segment, which primarily includes the Company’s Monster Energy® drinks, Reign Total Body Fuel® high performance energy

drinks, Reign Storm® total wellness energy drinks and Bang Energy® drinks, decreased marginally to $1.72 billion for the 2025

first quarter, from $1.73 billion for the 2024 first quarter. Net changes in foreign currency exchange rates had an unfavorable impact

on net sales for the Monster Energy® Drinks segment of approximately $50.8 million for the 2025 first quarter. Net sales on a foreign

currency adjusted basis (non-GAAP) for the Monster Energy® Drinks segment increased 2.2 percent in the 2025 first quarter.

Net sales for the Company’s Strategic Brands

segment, which primarily includes the various energy drink brands acquired from The Coca-Cola Company, as well as the Company’s

affordable energy brands Predator® and Fury®, decreased 9.3 percent to $98.3 million for the 2025 first quarter, from $108.4 million

in the 2024 first quarter, primarily due to timing differences in concentrate sales. Net changes in foreign currency exchange rates had

an unfavorable impact on net sales for the Strategic Brands segment of approximately $6.6 million for the 2025 first quarter. Net sales

on a foreign currency adjusted basis (non-GAAP) for the Strategic Brands segment decreased 3.3 percent in the 2025 first quarter.

Net sales for the Alcohol Brands segment decreased

38.1 percent to $34.7 million for the 2025 first quarter, from $56.1 million in the 2024 first quarter. The decrease in net sales was

primarily related to the launch of the Nasty Beast® Hard Tea product line in the comparable 2024 first quarter as well as decreased

sales by volume of The Beast™ product line.

Net sales for the Company’s Other segment,

which primarily includes certain products of American Fruits and Flavors, LLC, a wholly owned subsidiary of the Company, sold to independent

third-party customers, increased 8.0 percent to $6.0 million for the 2025 first quarter, from $5.5 million in the 2024 first quarter.

Net sales to customers outside the United States

marginally decreased 1.5 percent to $733.2 million in the 2025 first quarter, from $744.1 million in the 2024 first quarter, primarily

due to adverse changes in foreign currency exchange rates. Net sales to customers outside the United States, on a foreign currency adjusted

basis (non-GAAP), increased 6.2 percent to $790.5 million in the 2025 first quarter. Such sales were approximately 40 percent and 39 percent

of total reported net sales for the 2025 and 2024 first quarters, respectively.

Gross profit as a percentage of net sales for the

2025 first quarter increased to 56.5 percent from 54.1 percent in the 2024 first quarter. The increase in gross profit as a percentage

of net sales for the 2025 first quarter was primarily the result of pricing actions as well as supply chain

optimization.

Operating

expenses for the 2025 first quarter decreased to $478.2 million from $485.1 million in the 2024 first quarter. Operating expenses

as a percentage of net sales for the 2025 first quarter were 25.8 percent, compared with 25.5 percent in the 2024 first quarter.

Distribution expenses for the 2025 first quarter

were $77.6 million, or 4.2 percent of net sales, compared with $94.4 million, or 5.0 percent of net sales in the 2024 first quarter.

Selling expenses for the 2025 first quarter were

$172.3 million, or 9.3 percent of net sales, compared with $174.4 million, or 9.2 percent of net sales in the 2024 first quarter.

General

and administrative expenses for the 2025 first quarter were $228.4 million, or 12.3 percent of net sales, compared with $216.3

million, or 11.4 percent of net sales, for the 2024 first quarter. Stock-based compensation was $20.7 million for the 2025 first quarter,

compared with $22.5 million in the 2024 first quarter.

Monster Beverage Corporation

Operating

income for the 2025 first quarter increased 5.1 percent to $569.7 million, from $542.0 million in the 2024 first quarter. Operating

income for the 2025 first quarter, exclusive of the Alcohol Brands segment (non-GAAP), increased 7.9 percent to $591.2 million, from $548.0

million in the 2024 first quarter.

The effective tax rate for the 2025 first quarter

was 23.4 percent, compared with 23.5 percent in the 2024 first quarter.

Net income for the 2025 first quarter increased

0.2 percent to $443.0 million, from $442.0 million in the 2024 first quarter. Net income per diluted share for the 2025 first quarter

increased 7.4 percent to $0.45, from $0.42 in the first quarter of 2024. Net income per diluted share for the 2025 first quarter, exclusive

of the Alcohol Brands segment (non-GAAP), increased 10.2 percent to $0.47, from $0.42 in the first quarter of 2024.

Hilton

H. Schlosberg, Vice Chairman and Co-Chief Executive Officer, said, “T1Our first quarter revenues were impacted by a number

of headwinds including bottler/distributor ordering patterns, unfavorable foreign currency exchange rates in certain markets, adverse

weather in certain geographies as well as overall global economic uncertainties. Despite these headwinds, net sales excluding the Alcohol

Brands segment, on a foreign currency adjusted basis, increased 1.9 percent in the quarter.

“T2Consumer retail sales both for the energy

drink category and for the Company’s energy drink brands, as measured by Nielsen, were strong and accelerated in the 2025 first

quarter in most geographies. Furthermore, the Company’s April 2025 sales were robust.

“T3Gross profit margins improved to 56.5 percent

in the 2025 first quarter and were higher on a sequential basis, primarily the result of pricing actions and supply chain optimization.

In addition, distribution expenses as a percentage of net sales decreased to 4.2 percent in the 2025 first quarter.

“We were able to deliver solid percentage

increases in both operating income and diluted earnings per share during the quarter.

“Growth opportunities in household penetration

and per capita consumption, along with consumers’ growing demand for energy drinks, remain positive trends for the category,”

Schlosberg added.

Rodney C. Sacks, Chairman and Co-Chief Executive

Officer, said, “We launched a number of new products in the first quarter. In the United States, Monster Energy® Ultra Blue

Hawaiian has rapidly become one of our top selling products. T4Innovation globally continues to play a key role in our strategy and we maintain

a robust innovation pipeline.

“T5The Alcohol Brands segment continued to

put negative pressure on our financial results. We remain focused on optimizing our personnel and facilities to support the current demand

of our Monster Brewing portfolio and innovation pipeline.

“We

are continuing to launch our affordable energy brands, Predator® and Fury®, in a number of markets worldwide.

“We have market share leadership in a number

of countries for our brands,” Sacks said.

Share Repurchase Program

T6During the 2025 first quarter, no shares of the

Company’s common stock were repurchased. As of May 8, 2025, approximately $500.0 million remained available for repurchase

under the previously authorized repurchase program.

Monster Beverage Corporation

Company Borrowings

During the 2025 first quarter, the Company repaid

$175.0 million on its term loan facility and subsequently repaid $200.0 million in April 2025, which satisfied all outstanding borrowings

under such facility. As of May 8, 2025, the Company’s revolving credit facility remained unused and fully available.

Investor Conference Call

The

Company will host an investor conference call today, May 8, 2025, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

The conference call will be open to all interested investors through a live audio web broadcast via the internet at www.monsterbevcorp.comin the “Events & Presentations” section. For those who are not able to listen to the live broadcast, the call will

be archived for approximately one year on the website.

Monster Beverage Corporation

Based

in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated

subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® drinks, Monster Energy

Ultra® energy drinks, Juice Monster® Energy + Juice energy drinks, Java Monster® non-carbonated coffee + energy drinks, Monster

Killer Brew™ Triple Shot, Rehab® Monster® non-carbonated energy drinks, Monster Energy® Nitro energy drinks, Reign®

Total Body Fuel high performance energy drinks, Reign Storm® total wellness energy drinks, NOS® energy drinks, Full Throttle®

energy drinks, Bang Energy® drinks, BPM® energy drinks, BU® energy drinks, Burn® energy drinks, Live+® energy drinks,

Mother® energy drinks, Nalu® energy drinks, Play® and Power Play® (stylized) energy drinks, Relentless® energy drinks,

Samurai® energy drinks, Ultra Energy® drinks, Predator® energy drinks and Fury® energy drinks. The Company’s subsidiaries

also develop and market still and sparkling waters under the Monster Tour Water® brand name. The Company’s subsidiaries also

develop and market craft beers, flavored malt beverages and hard seltzers under a number of brands, including Jai Alai® IPA, Dale’s

Pale Ale®, Dallas Blonde®, Wild Basin® hard seltzers, The Beast™ and Nasty Beast® hard tea. For more information

visit www.monsterbevcorp.com.

Gross Billings

Gross billings represent amounts invoiced to

customers net of cash discounts, returns and excise taxes. Gross billings are used internally by management as an indicator of and to

monitor operating performance, including sales performance of particular products, salesperson performance, product growth or declines

and is useful to investors in evaluating overall Company performance. The use of gross billings allows evaluation of sales performance

before the effect of any promotional items, which can mask certain performance issues. We therefore believe that the presentation of gross

billings provides a useful measure of our operating performance. The use of gross billings is not a measure that is recognized under GAAP

and should not be considered as an alternative to net sales, which is determined in accordance with GAAP, and should not be used alone

as an indicator of operating performance in place of net sales. Additionally, gross billings may not be comparable to similarly titled

measures used by other companies, as gross billings has been defined by our internal reporting practices. In addition, gross billings

may not be realized in the form of cash receipts as promotional payments and allowances may be deducted from payments received from certain

customers.

Gross billings 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. Gross billings over a short period, such as a single month, should not necessarily be imputed to or regarded

as indicative of results for a full quarter or any future period.

Monster Beverage Corporation

Caution Concerning Forward-Looking Statements

Certain statements made in this announcement

may constitute “forward-looking statements” within the meaning of the U.S. federal securities laws, as amended, regarding

the expectations of management with respect to our future operating results and other future events including revenues and profitability.

The Company cautions that these statements are based on management’s current knowledge and expectations and are subject to certain

risks and uncertainties, many of which are outside of the control of the Company, that could cause actual results and events to differ

materially from the statements made herein. Such risks and uncertainties include, but are not limited to, the following: our ability to

sustain the current level of sales of and/or achieve growth for our Monster Energy® Reign Total Body Fuel®, Reign Storm®,

Bang Energy® and NOS® brand energy drinks and/or our other products, including our Strategic Brands and Alcohol Brands; decreased

demand for our products resulting from changes in consumer preferences; the impact on our business of competitive products and pricing

pressures and our ability to increase or maintain our market share as a result of actions by competitors; changes in government regulations,

including U.S. trade policies the impact of the threat or imposition of tariffs on, among other things, our supply chain, input costs,

inflation or consumer demand for our products; the impact of the current U.S. presidential administration’s policies on our energy

drinks due to articulated concerns about sugar-sweetened beverages, particular ingredients, such as food dyes, and the “generally

recognized as safe” (GRAS) process; the impact of proposed or adopted domestic and/or foreign legislation to limit or restrict the

sale of energy drinks (including the prohibition of the sale of energy drinks to certain demographics, at certain establishments, in certain

container sizes or pursuant to certain governmental programs, such as the Supplemental Nutrition Assistance Program (SNAP)); the impact

of military conflicts, including supply chain disruptions, volatility in commodity prices, increased economic uncertainty and escalating

geopolitical tensions; our extensive commercial arrangements with The Coca-Cola Company (TCCC) and, as a result, our future performance’s

substantial dependence on the success of our relationship with TCCC; our ability to implement our growth strategy, including expanding

our business in existing and new sectors and achieving profitability within our Alcohol Brands segment; the inherent operational risks

presented by the alcoholic beverage industry that may not be adequately covered by insurance or lead to litigation relating to the abuse

or misuse of our products; exposure to significant liabilities due to litigation, legal or regulatory proceedings; intellectual property

injunctions; unanticipated litigation concerning the Company’s products; the current uncertainty and volatility in the national

and global economy and changes in demand due to such economic conditions, including a slowdown in consumer spending generally or reduced

demand for consumer goods; adverse publicity surrounding obesity, alcohol consumption and other health concerns related to our products,

product safety and quality; changes in the price and/or availability of raw materials; other supply issues, including the availability

of products and/or suitable production facilities including limitations on co-packing availability including retort production; disruption

to our manufacturing facilities and operations related to climate, labor, production difficulties, capacity limitations, regulations or

other causes; product distribution and placement decisions by retailers; the effects of retailer and/or bottler/distributor consolidation

on our business; unilateral decisions by bottlers/distributors, buying groups, convenience chains, grocery chains, mass merchandisers,

specialty chain stores, e-commerce retailers, e-commerce websites, club stores and other customers to discontinue carrying all or any

of our products that they are carrying at any time, restrict the range of our products they carry, impose restrictions or limitations

on the sale of our products and/or the sizes of containers for our products and/or devote less resources to the sale of our products;

the imposition of new and/or increased excise sales and/or other taxes on our products; our ability to adapt to the changing retail landscape

with the rapid growth in e-commerce retailers and e-commerce websites; possible recalls of our products and/or the consequences and costs

of defective production; or our ability to absorb, reduce or pass on to our bottlers/distributors increases in commodity costs, including

freight costs. For a more detailed discussion of these and other risks that could affect our operating results, see the Company’s

reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31,

2024. The Company’s actual results could differ materially from those contained in the forward-looking statements. The Company assumes

no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

# # #

(tables below)

MONSTER BEVERAGE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER INFORMATION

(In Thousands, Except Per Share

Amounts) (Unaudited)

Three-Months Ended

Net sales1

$

$

Cost of sales

Gross profit1

Gross profit as a percentage of net sales

%

%

Operating expenses

Operating expenses as a percentage of net sales

%

%

Operating income1

Operating income as a percentage of net sales

%

%

Interest and other income, net

Income before provision for

income taxes1

Provision for income taxes

Income taxes as a percentage of income before taxes

%

%

Net income

$

$

Net income as a percentage of net sales

%

%

Net income per common share:

Basic

$

$

Diluted

$

$

Weighted average number of shares of common stock and common stock equivalents:

Basic

Diluted

Energy drink case sales (in thousands) (in 192-ounce case equivalents)

Average net sales per case2

$

$

1Includes $9.9 million for both

the three-months ended March 31, 2025 and 2024, related to the recognition of deferred revenue.

2Excludes

Alcohol Brands segment and Other segment net sales.

MONSTER

BEVERAGE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Par Value)

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

$

Accounts receivable, net

Inventories

Prepaid expenses and other current assets

Prepaid income taxes

Total current assets

PROPERTY AND EQUIPMENT, net

DEFERRED INCOME TAXES, net

GOODWILL

OTHER INTANGIBLE ASSETS, net

OTHER ASSETS

Total Assets

$

$

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

$

$

Accrued liabilities

Accrued promotional allowances

Deferred revenue

Accrued compensation

Income taxes payable

Total current liabilities

DEFERRED REVENUE

OTHER LIABILITIES

LONG-TERM DEBT

STOCKHOLDERS' EQUITY:

Common stock - $0.005 par value; 5,000,000 shares authorized; 1,128,695 shares issued and 975,143 shares outstanding as of March 31, 2025; 1,126,329 shares issued and 973,079 shares outstanding as of December 31, 2024

Additional paid-in capital

Retained earnings

Accumulated other comprehensive loss

)

)

Common stock in treasury, at cost;153,552 shares and 153,250 shares as of March 31, 2025 and December 31, 2024, respectively

)

)

Total stockholders' equity

Total Liabilities and Stockholders’ Equity

$

$

Reconciliation of GAAP and Non-GAAP Information

($ in Thousands, Except

Per Share Amounts, unaudited)

The Company believes the following non-GAAP items

are useful to investors in evaluating the Company’s ongoing operating and financial results. The non-GAAP items should be considered

in addition to, and not in lieu of, U.S. GAAP financial measures. The non-GAAP financial measures do not represent a comprehensive basis

of accounting. Therefore, our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies.

Three-Months Ended

Percentage

Change

Net Sales

$

$

)%

Alcohol Brands Segment

)

)

Currency Impact

N/A

Adjusted Net Sales

$

$

%

Three-Months Ended

Percentage

Change

Net Sales-Monster Energy® Drinks Segment

$

$

)%

Currency Impact

N/A

Adjusted Net Sales – Monster Energy® Drinks Segment

$

$

%

Three-Months Ended

Percentage

Change

Net Sales – Strategic Brands Segment

$

$

)%

Currency Impact

N/A

Adjusted Net Sales – Strategic Brands Segment

$

$

)%

Three-Months Ended

Percentage

Change

Net Sales – Foreign

$

$

)%

Currency Impact

N/A

Adjusted Net Sales – Foreign

$

$

%

Three-Months Ended

Percentage

Change

Operating Income

$

$

%

Alcohol Brands Segment

Adjusted Operating Income

$

$

%

Three-Months Ended

Percentage

Change

Net income per common share – Diluted

$

$

%

Alcohol Brands Segment, net of tax

Adjusted Net income per common share – Diluted

$

$

%

Adjustments

in this table are net of tax.