Beyond Meat Stock Falls After Mixed Q2 Results, Weak Q3 Outlook

  • Beyond Meat Inc BYND reported second-quarter FY21 sales growth of 31.8% year-on-year, to $149.43 million, beating the analyst consensus of $142.62 million.
  • The revenue in the U.S. rose 4.8% Y/Y, with Foodservice gaining 269.4% and the Retail segment declining 14.3%.
  • International revenue increased 31.8% Y/Y, with a 172.5% gain in Foodservice and a 198.2% rise in Retail.
  • Gross profit of $47.4 million increased 40.7% Y/Y with a gross margin expansion of 200 basis points to 31.7%.
  • Operational loss widened to $18.6 million. Adjusted EBITDA was $(2.2) million.
  • The company held $1 billion in cash and equivalents as of July 3, 2021.
  • Loss per share of $(0.31) missed the analyst consensus of $(0.23).
  • Outlook: Beyond Meat sees Q3 sales of $120 million - $140 million, versus the consensus of $153.7 million.
  • Price action: BYND shares are trading lower by 3.75% at $117.25 in premarket on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceShort IdeasMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!