We have -- despite that and despite the fact that, in fact, convenience is our largest channel, which I just think is positive for the future, because we think that will ride itself eventually when gas prices sort of normalize and/or people just get used to the gas prices and becomes whatever the level is, people will get used to it eventually and continue to drive. So thank you for that guys. Sales of NOS decreased 3.5% and sales of Full Throttle increased 5.5%. 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. Raytheon-owned Pratt & Whitney is also building a large, $650 million plant in Asheville, NC. We will be recommencing some buying activities. Roy G. Saltman, who as the federal government's top expert on voting technology wrote a prescient but little-read report warning about hanging chads on punch-card ballots more than a decade . Thanks. McMullen also joined Trump during his COVID-19 response press conference with industry executives in April this year and participated in an event with Mike Pence in May, in the throes of 2020 campaign. The impact of the COVID-19 pandemic was less pronounced on such expenses during the 2022, first quarter. ABC Supply (Wisconsin)Diane Hendricks, who is the co-founder, chair, and sole owner of this wholesale distributor of residential construction materials, is one of the wealthiest billionaires in Wisconsin. Because Bang branded products are thus not creatine based, and are not limited to nutritional channels, the arbitrator found they are being sold in breach of the settlement agreement. In June 2020, Monster Energy Company, which I will refer to as MEC and Orange Bang, Inc., a family-owned beverage business and the rightful owner of several trademark registrations to the Bang marks, initiated an arbitration against VPX. Uline (Wisconsin & Arizona)Liz and Dick Uihlein, the founders of Wisconsin-based Uline, are the top Republican donors nationally in the 2020 election cycle, with more than $58 million in contributions. According to INTAGE in Japan, in the last month ending March 2022, Monster's market shares in value in the convenience store channel as compared to the same period the previous year, grew from 50.1% to 52.5%. Nooyi chooses her candidates carefully, but always chooses Democrats. We remain optimistic about the prospects for the Monster brand in China. The company estimates that approximately $46 million of costs in the quarter were the result of operating inefficiencies due in part to strong consumer demand, including the importation of aluminum cans, as well as COVID-19-related issues such as port congestion, shortage of shipping containers resulting in the need to airfreight ingredients, which the company continues to address. This entire interview with director Rodney Sacks provides insight into the company's success, marketing strategy, history, and decision-making. First, major corporations are buying off our elected officials in the most expensive election cycle in the history of the country. During the first quarter of 2020, we launched Monster Pipeline Punch in Singapore. Here are the five most liberal CEOs, according to the firm's rankings: 5. Iger is a reliable and very active Democratic donor who has given $50,000 to the Democratic Senatorial Campaign Committee during the last two years and another $25,000 to the Democratic Congressional Campaign Committee. And VPX Bang share decreased 1.2 points to 6.6%. Rodney Sacks is chairman and CEO of energy drink maker Monster Beverage Corporation. AT&Ts PACs are major donors to Republicans- both nationally, and in Texas and Georgia. 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. Robert Iger, Walt Disney (DIS): 6.2L. 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. Sales of 5-Hour decreased 1.2% and VPX Bang's sales decreased 8.1%. He is no longer "the quick-witted victor but the hero of moral courage who stands tall in the eyes of humanity and God.". Rodney Cyril Sacks holds the position of Chairman & Co-Chief Executive Officer at Monster Beverage Corp. and Chairman, Chief & Principal Executive Officer at Monster . I would now like to open the floor to questions about the quarter. Lloyd Blankfein, Goldman Sachs (GS). So that price increase is in addition to the pricing actions that we took in the first quarter that we started taking in the last quarter of 2021, and will continue through this year. Our two new suppliers of aluminum cans in the United States are now operational. American democracy has always been fraught and our elections have never truly been fair or free. 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. Sacks most recently served as Chief Assistant State Attorney and has served as an Assistant State Attorney in the Fourth Judicial Circuit since 2013. Second, we have right-wing politicians enacting a series of tactics meant to suppress the votes of BIPOC communities. Editor's note: This story has been corrected to indicate that John Deere is based in Illinois, not Iowa. Please disable your ad-blocker and refresh. I'm Rodney Sacks. Duke Energy (North Carolina)Charlotte-based Duke Energy is an electric power company. Operating expenses as a percentage of net sales for the 2022, first quarter were 24.8% as compared to operating expenses as a percentage of net sales for the 2019, first quarter pre-COVID, which was 27.7%. Ohio-based Kroger owns supermarkets across the country including grocery chains like Dillons, Food 4 Less, Fred Meyer, Frys Food Stores, Gerbes, Harris Teeter, King Scoopers, Marianos, QFC, Ralphs, Roundys, Ruler Foods, and Smiths. And then as we think about the U.S. going forward, can you discuss your thoughts on potential Monster top line weakness or category weakness, if we do see a consumer spending slowdown? CEO Craig Menear is also a major Republican donor. We are calling on these wealthy elites and executives to publicly pledge to demand back all the money they have given to any elected official that refuses to honor the results of a full, fair, and accurate count of all mail-in and in-person ballots in their state or takes any action to prevent all the ballots from being counted. Our next question comes from Andrea Teixeira from JPMorgan. Sales decreased over the same period in 2021, largely due to COVID-19 restrictions in Japan. According to Nielsen, for the month of March -- month of March 2022 compared to March 2021, Monster's retail market shares in value increased in Brazil from 34.9% to 40.2%. 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. About Rodney Sacks. Co-Chairman Doug DeVoss brother, Dick, was the Republican nominee for Michigan Governor in 2006. If you have an ad-blocker enabled you may be blocked from proceeding. Yet I just wanted to circle back, because I thought you guys had made some progress in some of the distribution inefficiencies such as maybe already purchasing more supply in the U.S. during the quarter as well as started to operate back within your orbit. And it's certainly justified in terms of all the costs, that we are seeing the cost increases and no doubt, our competitors are seeing the same cost increases. Birth Place: Africa. 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. I would like to turn the conference back over to Rodney Sacks for any closing remarks. Publix was founded by billionaire George Jenkins. Wells Fargos head of consumer banking, Mary Mack, was named to Business North Carolinas Power 100 in 2020. Black, Indigenous, and people of color (BIPOC) and women were functionally excluded from the democratic process for the overwhelming majority of the history of the United States, and have been pushed to the margins of the system for the remainder of it. That has raised concerns about country-club conservatives, as CEOs are often caricatured, dominating politics. 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. 27. We reiterate that sales 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. Comcast also owns the NHLs Philadelphia Flyers. You mentioned a few things, but just trying to confirm that you've already seen improvement or is it really going to take until the second half until we see improvements on your gross margins? He has put his money behind President Obama, California senators Dianne Feinstein and Barbara Boxer and many other Dems. 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. Thank you. But hes donated to only one candidate, according to public records: Barack Obama, whose 2008 presidential campaign got $2,300 from Cook. Monster is now the leading energy brand in value in Brazil, marking another important milestone for our brand in South America. CEO Gregory Hayes was named to Trumps Great American Economic Revival advisory group for defense earlier this year. ACRE: Action Center on Race and the Economy, Presidents Council of Advisors on Science and Technology, Rick DeSantiss Re-Open Florida Task Force, Metropolitan Milwaukee Association of Commerce, most influential women in Arizona business. Linked companies : Monster Beverage Corporation. We also launched Ultra Fiesta, Watermelon and Gold and Juiced Monarch, Chaotic and Pacific Punch in a number of countries during the 2022, first quarter. Please go ahead. Monster remains the market leader in Japan and South Korea. Penske Automotive Group (Michigan & Pennsylvania)Founder and CEO Roger Penske is a major donor to Michigan Republicans and was awarded with a Presidential Medal of Freedom from Trump in 2019. CEO Marvin Ellison was named to Trumps Great American Economic Revival advisory group for retail earlier this year. So the market will continue to grow. September 1, there will be a market-wide increase. Net income decreased 6.7% to $294.2 million as compared to $315.2 million in the 2021 comparable quarter. Crowdpac is able to rank donors in a similar way, based on the scores of candidates and groups they donate to. So I mean, at the moment, if you look at the latest four weeks or one week numbers, the convenience channel is growing less than if you look at the all major channels. The arbitrator also found that VPX's Bang branded product infringe Orange Bang's trademarks. In Brazil, net sales in the 2022, first quarter increased by 72.1% in dollars and 67.4% in local currency. In -- the company is continuing to address the controllable challenges in its supply chain in EMEA. Warren was also one of the biggest donors to the super PAC supporting former Texas Gov. Kelcy Warren, Energy Transfer Partners (ETP): 6.9C. However, the general stability for the full-year average obscures a dramatic shift over the . And -- so I think that April, as we've always said, one month in isolation should not be construed as indicative of performance for a quarter or a longer period of time. Declaring those values and acting on them are two different things, and Glassman hasn't had a political office to demonstrate those principles. 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. Iger has also contributed to California Gov. The decrease in gross profit percentage for the 2022, first quarter was primarily the result of the items mentioned previously as well as geographical sales mix. Publix (Florida)This Florida-based grocery giant with stores all over the Southeast is a major donor to Florida Republicans. 4. Tom Kelly will now read our cautionary statement. John Sprouls, the CEO of Comcast-owned Universal Orlando Resort, is a member of Florida Governor Rick DeSantiss Re-Open Florida Task Force. We also introduced the Predator brand in India. He enrolled at University of the Witwatersrand in Johannesburg and graduated with a degree in law and later post graduated higher diploma in tax law. Through pricing actions during the quarter, the company was able to record positive pricing actions in excess of 3% in the United States and in EMEA. Since 2010, Watson has given $120,000 to the National Republican Senatorial Committee, hitting the the annual maximum donation for that type of committee each year. And as a result, we are able to decrease our reliance on the use of imported aluminum cans in the United States. On a foreign currency adjusted basis, excluding CANarchy, April 2022 sales would have been approximately 7.7% higher than the comparable April 2021 sales. Menard is a major donor to Wisconsin Republicans and a good friend to Trump. Our bottler in Chile is in the process of validating its new production line in order to increase our in-country production. Good afternoon, ladies and gentlemen. CEO Brian Moynihan has been in multiple meetings and calls with Trump and Treasury Secretary Steve Mnuchin. Operational income -- sorry, operating income for the 2022, first quarter decreased 3.5% to $399.5 million from $414.1 million in the 2021 comparative quarter, primarily due to the company's operations in EMEA and Asia Pacific. Consequently, such activities could have a significant impact on the monthly Nielsen statistics for Mexico. NOS' sales decreased 12.8% and its market share decreased 0.4 of a point to 1.5%. 27 out of 31 Goldman Sachs lobbyists in 2021 have previously held government jobs. Business Line: Manufacturer of energy drinks, sodas, and fruit juices. Corporations have never been and will never be the guardians of democracy. Share. CEO Lynn Good is also a major donor to North Carolina Republicans. 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. All participants will be in listen-only mode. You may now disconnect. As I said earlier, Monster is an affordable luxury, and we don't anticipate at this time seeing a dramatic falloff in sales in the convenience and gas channel. Sales of Starbucks Energy were 11.7% lower. Thank you for attending this call. The CEO of this Dallas pipeline company is a huge supporter of Republican Texas Gov. In South Korea, net sales increased 71.7% in dollars and 86.1% in local currency as compared to the same quarter in 2021. The next question comes from Kevin Grundy from Jefferies. Rockstar share was down 0.2 points to 3.6%. Maybe just comment on the magnitude of it, how you arrived at that, why you believe that's the appropriate number? It certainly doesn't sound that way, but I just wanted to ask given the step-down from what we saw from very strong results in the quarter. "We are confident that the recent portrayal of the company in the media is not representative of [our] culture and practices," Monster chairman and CEO Rodney Sacks and vice chair and president Hilton Schlosberg said in a statement. Like what youre reading? Wells Fargo and its PAC are major donors to Republicans at the state and federal levels across the country, including in both North Carolina and Arizona. In the first quarter of 2022, the company experienced significant increases in cost of sales relative to the comparative 2021, first quarter, primarily due to increased freight rates and fuel costs, including costs relating to the importation of aluminum cans, as well as aluminum can costs attributable to higher aluminum commodity pricing. Sales of Red Bull increased 7.8%. 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. 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. Multi-level marketing companies are sometimes compared to pyramid schemes. Please go ahead. Hi, thank you. Notably missing: Democrat backers. In Oceana, which includes Australia, New Zealand, Tahiti, French Polynesia, New Caledonia, Papua New Guinea and Guam, net sales decreased 13.8% in dollars and 7.9% in local currencies. What does Caddyshack, the 39-year-old Bill Murray movie about hijinks at a country club, have to do with politics in 2019?. Please go ahead. 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. --Additional reporting by Hannah Albarazi, Hailey Konnath and Reenat Sinay . In the United States, the company secured additional co-packing capacity to meet increased demand for certain of its products. Previously held government jobs. Rick Newmans latest book is Liberty for All: A Manifesto for Reclaiming Financial and Political Freedom. We are enthusiastic about the opportunities that CANarchy presents. Thats right, the Wall Street banker who runs a firm vilified as the great vampire squid has liberal leanings. Traditionally, the convenience channel was growing more quickly for the energy category than the mainstream grocery and drug channels. 5-Hour was down 5.2% and VPX Bang sales decreased by 11.7%. We did include TIAA-CREF because it reports earnings like a public company, even though it doesn't have traditional shareholders. (A full explanation of the methodology follows at the end of this story.) Kohler was a major donor to Scott Walker, who in turn gave Kohler wetland permits to build a golf course on state park land. In Canada, in January of 2022, we introduced Monster Ultra Gold. Liz, who is the companys CEO, is also an economic adviser to Trump. We believe in the power of our brand, and we have strong brands, and we believe that this pricing action is justified. As the owner of NBC Universal, Comcast also helped give Trump a launching pad for his political career by broadcasting The Apprentice. Thanks. 3. Mother's market shares in value decreased from 11.5% to 10.4% during the same period. Two, if I could. 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. They compete with Red Bull, Pepsico, and Rockstar. We also launched Monster Ultra Gold in Puerto Rico and Monster Mango Loco in Colombia. Home Depot and its PACs are major donors to Republicans, both nationally and in Georgia. The increase in other operating expenses was primarily due to increased expenditures for travel and entertainment, increased payroll expenses, increased professional services expenses, including accounting and legal expenses, increased commissions and increased sponsorships and endorsements. 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%.
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