Beyond Meat’s second quarter saw sales fall short of last year, with management citing persistent pressure in U.S. retail and food service segments. CEO Ethan Brown acknowledged that misinformation about plant-based products in the U.S. continues to dampen demand, while strong growth in Europe and Canada provided some offset. Efforts to consolidate production and reduce costs started to show benefits, but lower sales volumes and underutilization of facilities remained key challenges. Brown described the quarter as one of “positive momentum with substantial ground still to cover.”
Is now the time to buy BYND? Find out in our full research report (it’s free for active Edge members).
Beyond Meat (BYND) Q2 CY2026 Highlights:
- Revenue: $68.83 million vs analyst estimates of $60.77 million (8.2% year-on-year decline, 13.3% beat)
- Adjusted EPS: -$0.09 vs analyst expectations of -$0.08 (13.3% miss)
- Adjusted EBITDA: -$27.7 million (-40.2% margin, 12% year-on-year decline)
- Revenue Guidance for Q3 CY2026 is $62.5 million at the midpoint, above analyst estimates of $59.58 million
- Operating Margin: -44.8%, up from -50% in the same quarter last year
- Sales Volumes fell 9.5% year on year (-18.9% in the same quarter last year)
- Market Capitalization: $215.4 million
While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Beyond Meat’s Q2 Earnings Call
- Ben Thier (Barclays) asked why consumer acceptance of plant-based products differs so much between Europe and the U.S. CEO Ethan Brown explained that European consumers are more motivated by climate concerns and face less negative industry campaigning than in the U.S.
- Ben Thier (Barclays) inquired about recent leadership changes, specifically the appointment of Brijesh Krishna Swamy as COO and Brown’s return to the board. Brown said Swamy’s dual U.S. and European experience aligns with Beyond Meat’s growth and stabilization goals.
- Thomas Palmer (J.P. Morgan) requested updates on cost volatility, especially around freight and ingredients. Brown and CFO Lubi Kutua responded that while ingredient costs are mixed, logistics have improved due to warehouse consolidation, but throughput remains a key challenge for cost absorption.
- Thomas Palmer (J.P. Morgan) probed on automation and its impact on unit economics. Brown highlighted ongoing trials of the new automated production line and said it should improve conversion costs as volume ramps, but acknowledged that lower volumes are still limiting overall gains.
- No further analyst questions were recorded on the call.
Catalysts in Upcoming Quarters
In the coming quarters, our analysts are watching (1) whether international retail momentum, especially in Europe and Canada, accelerates and offsets U.S. weakness, (2) execution of new product launches and the impact on category diversification, and (3) measurable improvements in operational efficiency and cash flow discipline. The continued response to anti-plant-based campaigns in the U.S. will also be a key factor to monitor.
Beyond Meat currently trades at $0.42, down from $0.61 just before the earnings. At this price, is it a buy or sell? Find out in our full research report (it’s free).
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