Beyond Meat Stock Price, News & Analysis

Beyond Meat announced the pricing of a $1 billion private offering of 0% convertible senior notes due 2027, increasing the initial offering size from $750 million. The notes will settle on March 5, 2021, and can be converted into shares at a rate of 4.8544 per $1,000 principal amount. The initial conversion price is approximately $206.00, a 47.5% premium over the last stock price. The estimated net proceeds are about $979.4 million, which will be used for corporate purposes and capped call transactions. These notes may dilute common stock value upon conversion.

Beyond Meat has launched the Beyond Lunch Sustainability Challenge in collaboration with EVERFI and Liza Koshy, encouraging students to propose sustainable lunchroom ideas. The initiative, aimed at middle and elementary school students, includes a grand prize of up to $10,000 for the best submission. This program extends Beyond Meat's Sustainability Foundations course designed to educate students on sustainability and nutrition. Submissions are open until April 13, 2021, with the winner announced around June 1, 2021.

Beyond Meat announced plans to offer $750 million in convertible senior notes due in 2027. The notes will be unsecured and accrue interest payable semi-annually. An option for initial purchasers to buy an additional $112.5 million within 13 days is included. Proceeds will fund capped call transactions and general corporate purposes. Noteholders can convert notes under specific conditions. Market activities related to the notes may impact stock prices. Beyond Meat emphasizes its commitment to plant-based foods, aiming to address health and environmental issues.

Beyond Meat (NASDAQ: BYND) announced a three-year global strategic agreement with McDonald's, making them the preferred supplier for the McPlant burger. This collaboration aims to develop various plant-based menu options, enhancing McDonald’s commitment to customer choice. The partnership expands on their previous trials in Canada and is expected to leverage McDonald’s brand strength alongside Beyond Meat’s innovative product development.

Beyond Meat has announced a global strategic partnership with Yum! Brands to develop innovative plant-based protein menu items exclusively for KFC, Pizza Hut, and Taco Bell. This collaboration aims to enhance consumer offerings and meet the growing demand for sustainable and delicious plant-based options. Both companies will leverage their research and development capabilities to attract younger consumers and flexitarians. The partnership builds on their successful history, including previous launches of plant-based items at KFC and Pizza Hut. Terms of the partnership are still pending definitive agreements.

Beyond Meat reported Q4 2020 net revenues of $101.9 million, marking a 3.5% year-over-year increase. Full-year 2020 revenues reached $406.8 million, a significant 36.6% growth. Notably, retail channel revenues surged 85% year-over-year, while foodservice revenues plummeted 54% due to the impact of COVID-19. The net loss for Q4 was $25.1 million ($0.40 per share). Adjusted gross profit for Q4 stood at $29.1 million, reflecting a 28.5% gross margin. Management emphasizes ongoing strategic investments for future growth amidst current challenges.

Beyond Meat, Inc. (NASDAQ: BYND) announced it will release its financial results for the fourth quarter and full year ending December 31, 2020, on February 25, 2021, after market close. A conference call to discuss these results will occur at 5:00 p.m. ET on the same day. Investors can join via phone or through a live webcast on the company's website, which will also feature an archived version of the call.

Beyond Meat is committed to offering plant-based meat alternatives designed to replicate the taste and texture of animal-based products while promoting health and sustainability.

PepsiCo and Beyond Meat have formed a joint venture named The PLANeT Partnership, LLC to develop innovative snack and beverage products using plant-based protein. This collaboration combines Beyond Meat's advanced technology with PepsiCo's marketing and distribution strengths. Although financial terms were not disclosed, both companies aim to meet the growing consumer demand for nutritious, sustainable products. PepsiCo’s existing efforts in sustainability and product innovation are expected to enhance this partnership, focusing on positive consumer choices and environmental impact.

On January 19, 2021, Pollo Tropical launched new menu items, including the Vegan Picadillo made with Beyond Beef. The Vegan Picadillo is available in a Tropichop® or Wrap, featuring plant-based meat, peppers, and onions. Additionally, Pollo introduced the Balsamic Tomato Chicken, at only 180 calories for $4.99. These items complement the recently added Cuban Pressed Sandwiches. All new offerings are available for dine-in, curbside pick-up, and delivery through the MyPollo® app. Pollo Tropical is a subsidiary of Fiesta Restaurant Group, Inc. (NASDAQ: FRGI).