12:29 PM EST, 11/07/2025 (MT Newswires) -- Monster Beverage ( MNST ) delivered a strong Q3 with 16.8% sales growth, beating estimates on topline international growth and margin gains, RBC Capital Markets said in a report Friday.

Revenue rose 23.3% internationally and 12.4% in the US, while gross margins expanded 201 basis points to 55.7% on pricing and cost efficiencies, the report said.

October sales climbed 14.1% year over year on a reported basis and 13.4% in local currency, excluding alcohol, showing strength even without any "pull forward" ahead of Monster's November price increases, RBC said.

Monster is banking on innovation to drive growth, with new launches including Ultra Wild Passion, Juiced Monster Bad Apple, and Lando Norris Zero Sugar, plus 2026 additions like Strawberry Shots, Voodoo Grape, Flrt, and Storm Energy in the wellness segment, according to the report.

Following the quarter, RBC raised forecasts for fiscal 2025, projecting consolidated sales growth of 9% and earnings per share of $1.92, up from $1.87 previously. "We continue to see MNST delivering strong topline growth, margins and a path to improved market share," the analysts said.

RBC maintained an outperform rating on Monster and kept its price target at $75.

Shares of the company were up more than 5% in recent Friday trading.

Price: 70.02, Change: +3.71, Percent Change: +5.59