Beyond Meat BYND Stock News

IPO darling, Beyond Meat Inc (NASDAQ: BYND) is up nearly 30% early on in the trading session this morning after reporting its first financial report after going public. As you could imagine, the report was positive, showing strong growth and setting the stage for more of the same.

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BYND Rockets On Strong Financial Results And Guidance

The financial report first broke in after-hours trading yesterday via press release. Since then, major finance news outlets have been swarming the story. Here’s what we saw from the report:

  • Adjusted Loss Beats Expectations – Analysts expected that Beyond Meat would report an adjusted loss of $0.15 per share. The company actually reported an adjusted loss of $0.14 per share, producing a more than six and a half percent earnings surprise.
  • Revenue Also Beats – Revenue came in at $40.2 million, also topping analyst expectations of $38.9 million. The revenue broke down to $38.8 million from fresh foods and approximately $4.5 million from frozen foods. All in all, revenue growth came in at an impressive 215%.
  • Guidance – Finally, BYND set the forecast for more compelling growth ahead. In fact, the company expects for revenue to see a 140% year over year rise to $210 with adjusted EBITDA breaking even for the fiscal year.

In a statement, Ethan Brown, President and CEO at BYND, had the following to offer:

We are very pleased with our successful IPO during the month of May and our strong first-quarter financial results that we believe demonstrate mainstream consumers’ desire for plant-based meat products in the United States and internationally.

Our team continued to scale our business in both retail and foodservice as we benefited from broad-based growth in the first quarter. Looking ahead, we believe we are in the early stages of achieving the growth that Beyond Meat is capable of as we remain focused on efforts to increase brand awareness, expand our distribution channels, launch additional innovative products, and invest in our infrastructure and capacity to be able to serve a robust global market for plant-based meats.

A High Bar Set

Interestingly, Brown made it clear that he expects for the company to do better than guidance projects. In fact, on the conference call associated with the report, Brown said:

We’re being very conservative and viewing this as a floor…

Of course, this suggests that should the company do as well as it expects to, we could watch as expectations are smashed.

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The Allure Of Beyond Meat Could Lead To Long Term Incredible Growth

Beyond Meat has carved a niche in providing plant-based meat products. This appeals to a growing community of vegetarians and vegans. As millennials continue to pay more attention to what they are eating, we could see continued compelling growth.

In fact, the shift is being picked up by some of the world’s biggest brands. Let’s not forget the deal that BYND recently penned with Chanticleer Holdings, the owner of several nationally recognized burger and healthy foods brands. This trend could continue, leading to further tremendous gains ahead.

What Do You Think?

Where do you think BYND stock is headed moving forward? Join the discussion in the comments below.

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