- Beyond Meat ( NASDAQ: BYND ) is scheduled to announce Q2 earnings results on Thursday, August 4th, after market close.
- The consensus EPS Estimate is -$1.14 (-267.7% Y/Y) and the consensus Revenue Estimate is $150.46M (+0.7% Y/Y).
- Earnings history : The company's shares slipped post Q1 earnings miss . The company reported Adjusted EBITDA loss of $78.9M for the quarter.
- Over the last 2 years, BYND has beaten EPS estimates 13% of the time and has beaten revenue estimates 50% of the time.
- Over the last 3 months, EPS estimates have seen 0 upward revisions and 13 downward. Revenue estimates have seen 2 upward revisions and 11 downward.
- "The pursuit of growth opportunities such as jerky is creating operational inefficiencies and higher costs, burning through cash," Bloomberg Intelligence analyst Jennifer Bartashus said in a new note, adding that "elevated supply-chain costs and production challenges may weigh on margins."
- She says long-term growth initiatives may offset short-term wins, and that consistent profitability may not arrive for several years with consensus estimates calling for annual losses through 2023.
- JPMorgan analyst Ken Goldman believes that McDonald's ( MCD ) has broadly discontinued its U.S. test of the McPlant burger made with Beyond Meat ( BYND ). He recently spoke with McDonald's employees at 25 locations that previously carried the product and each said that the item is no longer on the menu. "Not surprisingly, the reason sometimes being cited is that the product did not sell well enough," Goldman tells investors in a research note titled "McPlant Seems McDone in the US for Now." The analyst says the news "isn't good for the narrative" of Beyond Meat. Even if Street estimates don't need to meaningfully decline because of McPlant's fortunes, it is hard to see the stock's multiple expanding when one of the more visible customers has backed away, writes Goldman. He keeps an Underweight rating on the shares.
- Wall Street Analysts suggests the share to currently be a ‘hold’, with a price target of $2.85 where as SA quant rating system says to 'sell'.
- Stock lost around 47% since the start of 2022, underperforming the broader market index:
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Will Beyond Meat Q2 earnings satiate investors hunger?