Benzinga | Aug 5, 2021 04:39PM EDT

Beyond Meat: Q2 Earnings Insights

Shares of Beyond Meat (NASDAQ:BYND) decreased in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 1450.00% over the past year to ($0.31), which missed the estimate of ($0.23).

Revenue of $149,426,000 higher by 31.84% from the same period last year, which beat the estimate of $142,620,000.

Looking Ahead

Beyond Meat hasn't issued any earnings guidance for the time being.

Beyond Meat hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Aug 05, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/dxrqascy

Technicals

52-week high: $221.00

52-week low: $99.86

Price action over last quarter: Up 5.98%

Company Overview

Beyond Meat is a provider of plant-based meats, such as burgers, sausage, ground beef, and chicken. Unlike other vegetarian products, Beyond Meat seeks to replicate the look, cook, and taste of meat, is targeted to omnivores and vegetarians alike, and is sold in the meat case. The products are widely available across the U.S. and Canada and in 83 additional countries as well. International revenue represented 20% of 2020 sales. The firm's products are available in retail stores and the food-service channel. In 2019, before the pandemic struck, sales were evenly split between these two channels, although mix changed to 74% retail/26% food service in 2020. We think the recovery from the crisis and new deals with McDonald's and Yum! Brands will return food-service sales to 45% by 2023.