Beyond Meat Inc is a pioneering company in the food industry that specializes in producing plant-based meat substitutes designed to replicate the taste and texture of traditional meat products. Their innovative offerings cater to consumers looking for alternatives that align with healthier lifestyles and sustainable practices, addressing concerns around environmental impact, animal welfare, and personal health. Beyond Meat develops a range of products, including burgers, sausages, and ground meat, which are available in grocery stores, restaurants, and foodservice operations, aiming to provide a delicious and satisfying experience for both meat-eaters and those reducing their meat consumption.
Shares of video game retailer GameStop (NYSE:GME)
jumped 8.5% in the morning session after the company reported impressive third-quarter earnings, which blew past analysts' expectations. Its gross margin also outperformed Wall Street's estimates, fueled by a pivot to high-margin products and better control over stock levels. On the other hand, its revenue fell short. Overall, this quarter had some key positives.
The past six months haven’t been great for Beyond Meat. It just made a new 52-week low of $4.19, and shareholders have lost 41.2% of their capital. This might have investors contemplating their next move.
Discover how overhyped stocks like Mullen, Peloton, and Beyond Meat failed to meet expectations and the crucial investing lessons from their downturns.
Plant-based protein company Beyond Meat (NASDAQ:BYND) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 7.6% year on year to $81.01 million. The company expects the full year’s revenue to be around $325 million, close to analysts’ estimates. Its non-GAAP loss of $0.41 per share was also 12.3% above analysts’ consensus estimates.
Beyond Meat reported second-quarter revenue of $93.2 million, beating the consensus estimate of $87.81 million, according to Benzinga Pro. The plant-based meat company reported a second-quarter adjusted loss of 53 cents per share, missing estimates for a loss of 51 cents per share.
