Categories AlphaGraphs, Earnings, LATEST, Retail

Beyond Meat (BYND) swings to profit in Q3 on strong sales growth

Beyond Meat (NASDAQ: BYND) reported profit for the September quarter, compared to a loss last year, as revenues increased sharply. The results topped the Street view. The company also revised up its full-year revenue guidance. Despite the positive results, the stock dropped Monday evening following the announcement.

Third-quarter net income was $4.1 million or $0.06 per share, compared to a loss of $9.3 million or $1.45 per share in the same period of last year. Earnings also came in above the forecast. Adjusted EBITDA, which is a non-GAAP financial measure, was $11.0 million.

Beyond Meat (BYND) Financial Summary

Revenue nearly tripled year-over-year to $92 million, and exceeded the estimates. The top-line benefited from strong sales growth both in the Retail and Restaurant & Foodservice channels. There was an expansion in the number of points of distribution, including new strategic customers, international customers and greater demand from existing customers.

Also Read: Is Beyond Meat a bubble waiting to burst?

“We remain focused on expanding our distribution footprint, both domestically and abroad, building our brand, introducing new innovative products into the marketplace, and bolstering our infrastructure and internal capabilities to fuel our future growth,” said CEO Ethan Brown.

Buoyed by the positive results, the management revised up its full-year 2019 revenue guidance to the range from $265 million to $275 million from the previous outlook of around $240 million. The forecast for adjusted EBITDA is around $20 million.

Last month, Beyond Meat appointed Sanjay Shah, a former Tesla (TSLA) executive, as its chief operating officer. More recently, the company named Stuart Kronauge, a former executive at Coca Cola (KO) as chief marketing officer and Nike (NKE) veteran Marc Patrick as SVP of marketing.

Related: Beyond Meat Q2 2019 Earnings Call Transcript

Shares of Beyond Meat had rallied steadily since the company’s May IPO, but lost momentum after it reported unimpressive results for the second quarter in July. The stock closed Monday’s regular trading session higher.

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

Disney (DIS): A look at the major winning points for its streaming business

Shares of the Walt Disney Company (NYSE: DIS) have been rallying since the entertainment leader delivered strong results for its third quarter of 2022 a day ago. The stock was

KSS Stock: After terminating sale talks, what awaits Kohl’s this year

Kohl’s Corporation (NYSE: KSS) has been on investors' radar ever since the retailer put itself up for sale earlier this year, after coming under pressure from activist investors. Putting an

Walt Disney Company (DIS) Q3 revenues, earnings beat Street view

Entertainment behemoth The Walt Disney Company (NYSE: DIS) on Wednesday reported higher revenues and earnings for the third quarter of 2022. The results also topped expectations. Third-quarter revenues of the Los


  1. Pingback: ไฮโล
  2. Pingback: Heavy
  3. Pingback: ThopTV APK
  4. Pingback: ff tools hack
  5. Pingback: ffh4x v41 download
  6. Pingback: ff tool pro
  7. Pingback: bacardi
  8. Pingback: kruidvat
  9. Pingback: cheap
  10. Pingback: TikTok 18 plus
  11. Pingback: Epaviste gratuit
  12. Pingback: enlevement epave
  13. Pingback: Epaviste
  14. Pingback: enlevement epave
  15. Pingback: enlevement epave
  16. Pingback: Epaviste
  17. Pingback: Epaviste gratuit
  18. Pingback: Epaviste
  19. Pingback: Epaviste gratuit
  20. Pingback: Epaviste
  21. Pingback: enlevement epave
  22. Pingback: enlevement epave
  23. Pingback: enlevement epave
  24. Pingback: เว็บ123
  25. Pingback: คาสิโน
  26. Pingback: sexy
  27. Pingback: sa casino
  28. Pingback: เว็บ123
  29. Pingback: kanha gummies nano
  30. Pingback: ps5 sale
  31. Pingback: Marijuana delivery
  32. Pingback: Kindness T-Shirt
  33. Pingback: pink runtz
  34. Pingback: white runtz
  35. Pingback: DESERT EAGLE 1911
  36. Pingback: CZ P10C
  37. Pingback: FLINTLOCK PISTOL
  38. Pingback: Glock 43x
  39. Pingback: Weed Strains
  40. Pingback: Prediction site
  41. Pingback: 4k wallpapers cool
  42. Pingback: sanicur
  43. Pingback: Buy This Domain
  44. Pingback: buy 5meo dmt
  45. Pingback: classic books
  46. Pingback: trade show models
  47. Pingback: promo models
  48. Pingback: Trade show models
  49. Pingback: nursing essay
  50. Pingback: mango juul pod
  51. Pingback: Buy This Domain
  52. Pingback: Best Hp Laptops
  53. Pingback: russian books
  54. Pingback: buy vyvanse 70mg
  55. Pingback: w320axgf-9-bxr3-r2
  56. Pingback: Decorative tile
  57. Pingback: maui tile
  58. Pingback: tile lowe's
  59. Pingback: MDMA for Sale
  60. Pingback: Cocaine for Sale
  61. Pingback: Wikipedia
  62. Pingback: lymph machine
  63. Pingback: breaking news
  64. Pingback: Trending news
  65. Pingback: India news
  66. Pingback: Entertainment News
  67. Pingback: breaking news
  68. Pingback: entertainment news
  69. Pingback: gadgets
  70. Pingback: Tollywood
  71. Pingback: sports news
  72. Pingback: check my source
  73. Pingback: published here
  74. Pingback: my explanation
  75. Pingback: go to this site
  76. Pingback: find out

Comments are closed.

Add Comment
Viewing Highlight