Beyond Meat Stock Price, News & Analysis

Beyond Meat (NASDAQ: BYND) has reduced its third quarter net revenue outlook to approximately $106 million, down from previous guidance of $120 million to $140 million. Factors impacting this decrease include prolonged declines in retail orders, particularly from a Canadian distributor, and operational challenges like severe weather and labor shortages. While some orders from an international customer were accelerated, the overall demand has been negatively affected by the COVID-19 Delta variant. Full results are set to be discussed on November 10, 2021.

Beyond Meat is launching its Beyond Chicken® Tenders at select retailers nationwide in October 2021, following successful foodservice launches and consumer demand. The retail rollout includes increased availability in Walmart, expanding access to its popular plant-based products. The Beyond Chicken Tenders are pre-cooked and designed to replicate the taste of traditional chicken tenders while containing 50% less saturated fat. This initiative reflects Beyond Meat's commitment to innovation and increasing accessibility to plant-based options across the U.S.

Beyond Meat announced a favorable ruling in its ongoing legal dispute with Don Lee Farms, as the Los Angeles Superior Court dismissed central claims made by Don Lee Farms regarding trade secret misappropriation and unfair competition.

The court's decision, issued on August 27, 2021, allows Beyond Meat to pursue its own claims against Don Lee Farms, seeking millions in damages. The matter is set for trial on May 16, 2022, marking a significant step for Beyond Meat in defending its intellectual property.

Pizza Hut and Beyond Meat have expanded their partnership, introducing the Beyond Pepperoni pizza, a plant-based variant of Pizza Hut's popular topping. Available in nearly 70 locations across five U.S. markets, this innovative offering features simple ingredients like peas and rice, with no GMOs, soy, or gluten. The new pizza is designed to cater to the growing demand for plant-based options, appealing to health-conscious consumers. This collaboration reinforces Yum Brands' commitment to expanding plant-based menu options and enhancing customer choices.

Beyond Meat reported a 32% increase in net revenues to $149.4 million for Q2 2021, driven by a 218% rise in foodservice sales. Despite impressive revenue growth, the company faced a net loss of $19.7 million ($0.31 per share) and an adjusted EBITDA loss of $2.2 million. The gross profit stood at $47.4 million, marking a 31.7% gross margin. Looking ahead, Beyond Meat anticipates Q3 2021 net revenues between $120 million and $140 million, alongside concerns over COVID-19's impact on demand.

Hopdoddy Burger Bar has partnered with Beyond Meat to offer the new Beyond Burger at all locations, enhancing its plant-based menu options. This collaboration makes Hopdoddy one of the first restaurant chains to serve the latest iteration of the Beyond Burger, which boasts increased juiciness and flavor. The partnership will also include promotional events featuring Beyond Meat food trucks in cities like Dallas and Los Angeles. The new burger will contain 20 grams of protein and is made with simple, plant-based ingredients.

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.