Categories Consumer, Earnings

Beyond Meat serves bittersweet results for Q2

Beyond Meat (NASDAQ: BYND) reported a loss of $0.24 per share on revenue of $67.3 million for the second quarter of 2019. Shares of Beyond Meat were trading in red immediately after the announcement and swung to positive territory later in the extended trading session. However, BYND stock plunged about 10% after the company announced about the commencement of an underwritten public offering of 3.25 million shares of common stock.

Revenue surged 287% year-over-year to $67.3 million. Net loss was $9.4 million, or a loss of $0.24 per common share, compared to net loss of $7.4 million, or a loss of $1.22 per common share in the year-ago period. The company surpassed Street’s predictions for the top line, while missing on the bottom line in the second quarter. Analysts had predicted Beyond Meat to post a loss of 9 cents per share on revenue of $52.7 million.

Second quarter revenue growth was primarily due to an increase in sales volumes of products in the company’s fresh platform across both its retail and restaurant and foodservice channels.

The El Segundo, California-based company lifted its outlook for 2019. The company now expects revenue to exceed $240 million versus the prior outlook of exceeding $210 million, which represents an surge of 170% compared to 2018. Adjusted EBITDA is predicted to be positive compared to prior expectations of break-even adjusted EBITDA.

You might also like: Weakness in Financial Services and Healthcare segments likely to continue for Cognizant in Q2

“We are very pleased with our second quarter results which reflect continued strength across our business as evidenced by new foodservice partnerships, expanded distribution in domestic retail channels, and accelerating expansion in our international markets. We believe our positive momentum continues to demonstrate mainstream consumers’ growing desire for plant-based meat products both domestically and abroad,” said CEO Ethan Brown.

The underwritten public offering of 3.25 million shares of common stock, consist of 3 million shares of common stock offered by certain selling stockholders of Beyond Meat and 250,000 shares of common stock offered by Beyond Meat. The net proceeds received from the offering will be used to continue to increase the company’s production and supply capabilities, to pay for marketing and promotional activities, and for general working capital purposes.

Last week, the restaurant chain Dunkin’ Brands (NASDAQ: DNKN) joined hands with Beyond Meat by announcing that that the company will add Beyond Meat’s Beyond Sausage in its menu.

Beyond Meat stock, which reached a new high ($239.71) last Friday, dropped as low as $201.00 and hit a peak of $233.87 during today’s regular trading session.

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

Most Popular

Infographic: How UnitedHealth Group (UNH) performed in Q2 2024

UnitedHealth Group (NYSE: UNH) reported second quarter 2024 earnings results today. Revenues increased to $98.9 billion from $92.9 billion a year ago. Net earnings attributable to UnitedHealth Group common shareholders

SCHW Earnings: Highlights of Charles Schwab Corporation’s Q2 2024 results

Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported a decrease in adjusted earnings and a modest increase in revenues for the second quarter of 2024. Total

BAC Earnings: Key quarterly highlights from Bank of America’s Q2 2024 financial results

Bank of America (NYSE: BAC) reported its second quarter 2024 earnings results today. Revenue, net of interest expense, of $25.4 billion increased 1% from the prior-year period, reflecting higher asset

Comments

  1. Pingback: Reba Fleurantin
  2. Pingback: Chirurgie Tunisie
  3. Pingback: Campus facilities
  4. Pingback: Web Development
  5. Pingback: fue
  6. Pingback: fue
  7. Pingback: Marketing degree
  8. Pingback: Political science
  9. Pingback: Msc in dental
  10. Pingback: MBA in FUE
  11. Pingback: led lineari
  12. Pingback: glucotrust
  13. Pingback: Fiverr Earn
  14. Pingback: Fiverr Earn
  15. Pingback: Fiverr Earn
  16. Pingback: Fiverr Earn
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: Freight Broker
  20. Pingback: fiverrearn.com
  21. Pingback: fiverrearn.com
  22. Pingback: french bulldog
  23. Pingback: fiverrearn.com
  24. Pingback: jute vs sisal rug
  25. Pingback: blogging
  26. Pingback: blockchain
  27. Pingback: future university
  28. Pingback: sole mare
  29. Pingback: tridelta hat
  30. Pingback: agen multisbo
  31. Pingback: seo company tampa
  32. Pingback: fue
  33. Pingback: six sigma
  34. Pingback: Warranty
  35. Pingback: FUE
  36. Pingback: Moving estimate
  37. Pingback: Moving trucks
  38. Pingback: Reliable movers
  39. Pingback: Classic Books 500
  40. Pingback: FiverrEarn
  41. Pingback: Fiverr.Com
  42. Pingback: FiverrEarn
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: Speaker
  47. Pingback: FiverrEarn
  48. Pingback: partners
  49. Pingback: Economics
  50. Pingback: Predictions
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: live sex cams
  54. Pingback: live sex cams
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: FiverrEarn
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: FiverrEarn
  64. Pingback: FiverrEarn
  65. Pingback: FiverrEarn
  66. Pingback: FiverrEarn
  67. Pingback: christmas
  68. Pingback: marketing
  69. Pingback: FiverrEarn
  70. Pingback: FiverrEarn
  71. Pingback: cheap sex cams
  72. Pingback: live sex cams
  73. Pingback: live sex cams
  74. Pingback: live sex cams
  75. Pingback: freeze dried
  76. Pingback: frt trigger
  77. Pingback: 늑대닷컴
  78. Pingback: Slot progresif
  79. Pingback: One Peace AMV
  80. Pingback: One Peace AMV
  81. Pingback: nang delivery
  82. Pingback: allgame
  83. Pingback: 918kiss
  84. Pingback: หวย24
  85. Pingback: Hair care
  86. Pingback: pg slot
  87. Pingback: AI Lawyer
  88. Pingback: regles 421
  89. Pingback: cybersécurité
  90. Pingback: ozempic
  91. Pingback: sicarios
  92. Pingback: itsMasum.Com
  93. Pingback: itsMasum.Com
  94. Pingback: apprendre a coder
  95. Pingback: read more
  96. Pingback: chatave
  97. Pingback: itsmasum.com
  98. Pingback: joker gaming
  99. Pingback: dallas jobs
  100. Pingback: adult webcams
  101. Pingback: Kampus Islami
  102. Pingback: 918kiss

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top