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BYND - Maple Leaf Foods: A Hidden Plant-Based Powerhouse
Beyond Meat Inc.
In my first article covering Maple Leaf Foods, Inc. (OTCPK:MLFNF), on July 19, 2019, I outlined why MLFNF was being undervalued, especially in light of the burgeoning trend towards plant-based foods and the valuation of Beyond Meat, Inc. (BYND).
Data by YCharts
Since my last article, MLFNF delivered a Q2 report that was unquestionably positive. MLFNF reported quarterly revenue of C$1.02 billion, up 12.5% y/y (beating expectations by C$10M) and Non-GAAP EPS of C$0.33 (beating expectations by C$0.03 per share). Another positive was that adjusted EBITDA margin ticked up to 10.6%