What happened

Shares of Monster Beverage (MNST -1.72%) rose 12% in the first half of 2017, according to data from S&P Global Market Intelligence.

So what

The energy drink specialist actually started the year on a sour note. Share prices fell nearly 5% in the first two months, while the S&P 500 rose 6%. The tide turned in early March when Monster Beverage delivered the first of two solid earnings reports. The company crushed Wall Street top and bottom line estimates in the fourth quarter of fiscal 2016 and followed up with in-line results in the first quarter of 2017. Driven by these reports, share prices rose 11% in March and another 11% in May.

A can of classic Monster Energy on ice.

Image source: Author.

Now what

Monster Beverage is currently rolling out energy drink distribution in a slew of new markets, powered by partner Coca-Cola's massive distribution network. The company aims to address 75% of the potential energy drink market in China by the summer, up from 35% at the end of 2016. In more mature markets, Monster has been introducing a number of brand-new products such as the Mutant brand of highly caffeinated soda and the Monster Hydro range of caffeine-infused waters.

Analysts see the company maintaining annual revenue growth of roughly 11% for the next several years, while bottom-line earnings are expected to rise at a 20% annual pace for the next half-decade. Monster has all the elements in place to deliver solid financial growth for the long haul, and share prices seem likely to follow suit.