Beyond Meat Stock Price, News & Analysis

Beyond Meat (NASDAQ: BYND) is set to report its financial results for the second quarter ending July 3, 2021, on August 5, 2021, after market close. A conference call will take place at 5:00 p.m. ET, accessible via dial-in or live webcast. Beyond Meat is a leading player in the plant-based meat industry, offering products free from GMOs, hormones, and antibiotics. As of March 2021, its products are available in approximately 118,000 locations across over 80 countries, reflecting its significant market reach and commitment to sustainability.

Beyond Meat has launched its innovative Beyond Chicken Tenders, available from July 8, 2021, at select restaurants across the U.S. This plant-based product mimics traditional chicken tenders in look and taste, coinciding with a surge in consumer demand as the chicken market faces a shortage. Each serving contains 14g of protein and 40% less saturated fat than leading chicken tenders. Beyond Chicken Tenders are made from faba beans and peas, are GMO-free, and devoid of antibiotics and hormones. Beyond Meat continues to lead in the refrigerated plant-based meat market, with products available in over 80 countries.

DoorDash (NYSE: DASH) has partnered with Beyond Meat (NASDAQ: BYND) to launch limited-edition grilling kits for the July 4th weekend, available exclusively on DashMart for $14.99. The kits include the new Beyond Burger, which boasts 35% less fat and fewer calories compared to traditional beef patties, along with grilling essentials. A consumer survey shows 78% of Americans prefer plant-based options at BBQs, while 91% can relate to needing supplies last minute. The kits will be available in 14 U.S. cities starting July 1, 2021.

Beyond Meat (NASDAQ: BYND) announced the appointment of key executives to strengthen its leadership team. Phil Hardin will join as Chief Financial Officer in July 2021, bringing over 15 years of experience from Amazon. Deanna Jurgens is appointed Chief Growth Officer, having previously led sales for multiple markets at Rodan & Fields and PepsiCo. Margaret 'Jackie' Trask takes on the role of Chief People Officer after 14 years at JAFRA Cosmetics. These appointments are part of Beyond Meat's strategy to drive growth and innovation in the competitive plant-based protein market.

Beyond Meat announces the expansion of its product offerings at Walmart, introducing Beyond Meatballs at 2,100 locations nationwide. This follows the successful launch of Beyond Sausage earlier this year. To celebrate, the company is hosting summer grilling pop-ups in Southern California and Dallas, providing free samples of its products, including the newly revamped Beyond Burger. Beyond Meat continues to lead the plant-based meat market, with significant retail growth and increasing consumer preference for its products.

Beyond Meat reported a net revenue of $108.2 million for Q1 2021, marking an 11.4% increase year-over-year. The gross profit reached $32.7 million, with a gross margin of 30.2%. However, the company faced a net loss of $27.3 million, or $0.43 per share, compared to a net income of $1.8 million in the prior year. The adjusted EBITDA was a loss of $10.8 million. Despite challenges from COVID-19 impacting the foodservice sector, Beyond Meat is cautiously optimistic, issuing limited guidance for Q2 2021 with expected revenues between $135 million and $150 million.

Beyond Meat (NASDAQ: BYND) announced the launch of an upgraded Beyond Burger available in stores nationwide starting May 3, 2021. This new version features 35% less fat and saturated fat compared to 80/20 beef, along with fewer calories. It will be offered in a 2-pack, a first-time 4-pack for $9.99, and a 1lb pack. Consumer testing indicates flavor parity with traditional beef. Moreover, pop-up tasting events in select cities will offer early access to the product before its retail debut.

Beyond Meat, Inc. (NASDAQ: BYND) announced it will release its first-quarter financial results on May 6, 2021, following market close. A conference call to discuss these results is scheduled for 5:00 p.m. ET, with a dial-in option available for investors. Beyond Meat is a key player in the plant-based meat sector, providing consumers with a range of products designed to replicate the texture and flavor of traditional meat without GMOs, hormones, or antibiotics. As of December 31, 2020, their offerings were accessible at around 122,000 retail and foodservice locations across 80 countries.

On April 22, 2021, Carl’s Jr. will host a special Earth Day event in Los Angeles, featuring a complimentary Beyond Meat menu for customers. This initiative aims to promote plant-based eating amid a growing interest in flexible diets. Customers not in LA can purchase a Beyond Burger for $5 across participating locations nationwide. Carl’s Jr. has sold nearly 12 million Beyond Meat burgers since their partnership began in December 2018, marking a significant milestone for plant-based options in fast food.