Beyond Meat Stock Price, News & Analysis

Beyond Meat reported Q2 2022 financial results with net revenues at $147 million, a decline of 1.6% year-over-year. The gross profit was a loss of $6.2 million, marking a gross margin of -4.2%. Significant factors included $14.5 million losses from liquidation sales and increased inventory reserves. The net loss reached $97.1 million, translating to -66.1% of net revenues. Adjusted EBITDA loss widened to $68.8 million. Outlook for 2022 has been downgraded, expecting revenues between $470 million and $520 million, down from previous estimates of $560 million to $620 million.

Beyond Meat, Inc. (NASDAQ: BYND) will report its financial results for Q2 2022 on August 4, 2022, after market close. A conference call to discuss the results is scheduled for 5:00 p.m. ET, accessible via phone or a live webcast on their website. As of March 2022, Beyond Meat products are available in approximately 135,000 locations across over 90 countries. The company is dedicated to promoting plant-based diets that positively impact human health and the environment.

Beyond Meat (NASDAQ: BYND) expands the distribution of its popular Cookout Classic™ burger pack to over 10,000 stores nationwide, making plant-based burgers more accessible this summer. Originally a limited-time offering in 2020, the Cookout Classic became a permanent retail item due to demand. This initiative aims to reduce the price gap between plant-based and animal proteins, promoting a more sustainable food system. Beyond Meat is the leading brand in the refrigerated plant-based meat category, with products available in approximately 135,000 retail and foodservice outlets worldwide.

Beyond Meat announces a new partnership featuring Kim Kardashian as their Chief Taste Consultant. The campaign will promote Beyond Meat's plant-based products, highlighting their health benefits and sustainability. Kardashian expresses her long-time love for the brand and its offerings. Through this collaboration, she aims to inspire consumers to include plant-based options in their diets. Beyond Meat's products are available in approximately 135,000 retail and foodservice outlets worldwide. The company emphasizes its commitment to health, sustainability, and quality as it expands its brand influence.

Beyond Meat reported first-quarter 2022 net revenues of $109.5 million, a 1.2% year-over-year increase. Gross profit was significantly reduced to $0.2 million (0.2% margin), down from $32.7 million (30.2% margin) a year ago, primarily due to the launch of Beyond Meat Jerky. The company incurred a net loss of $100.5 million ($1.58 per share), worsening from $27.3 million the previous year. Despite challenges, management reaffirmed full-year 2022 revenue guidance of $560 million to $620 million, expecting growth of 21% to 33% compared to 2021.

Beyond Meat (NASDAQ: BYND) plans to release its Q1 financial results for the period ended April 2, 2022, on May 11, 2022, after market close.

A conference call to discuss these results will be held at 5:00 p.m. ET with an investor dial-in at 412-317-6026. A live webcast will also be available on Beyond Meat’s website.

Beyond Meat is recognized for its portfolio of plant-based meats, emphasizing health and sustainability.

Beyond Meat (NASDAQ: BYND) is expanding the availability of its popular Beyond Chicken Tenders at major retailers including Albertsons, CVS, Kroger, Sprouts, and Whole Foods Market. Starting April 12, 2022, these products are now available nationwide, enhancing access to plant-based protein.

The tenders are lower in saturated fat compared to traditional chicken nuggets and contain no antibiotics or hormones. This move aims to meet the growing consumer demand for sustainable food options.

Beyond Meat has announced a proposed settlement regarding stockholder derivative litigation in the United States District Court for the Central District of California. This settlement aims to resolve claims against current and former directors and officers while the company remains a nominal defendant. If approved, the settlement will result in the adoption of corporate governance reforms and a payment of $515,000 in attorneys' fees. A hearing is scheduled for July 11, 2022, to determine the settlement's fairness and adequacy, with stockholders barred from contesting it after approval.

Beyond Meat and Rite Aid have teamed up to launch the Beyond Burger and Beyond Meatballs at around 2,000 Rite Aid stores across the U.S. This initiative aims to enhance accessibility to nutritious plant-based meat options for consumers. The Beyond Burger contains 35% less saturated fat than traditional beef, while the meatballs offer 30% less saturated fat and sodium compared to leading animal-based brands. The products are available in the frozen aisle, supporting Beyond Meat’s goal to make plant-based options convenient and widely available.