Beyond Meat shares leap following first report since IPO

Beyond Meat shares leap following first report since IPO”

Beyond Meat reported a net loss of $6.6 million, or 95 cents per share, and the company said that its earnings before interest, taxes, depreciation and amortization, or EBITDA, was $2.1 million after adjusting for one-time events.

Beyond Meat, however, has increased the efficiency of its manufacturing process, Brown said, and it has increased its overall manufacturing capacity while adding new deals with suppliers to meet the growing demand.

The burgers, a hit with consumers switching to a "flexitarian" diet, feel, smell and taste like real meat. Early on, Beyond Meat focused much of its expansion on getting its products into popular grocery store chains such as Safeway, Whole Foods, Kroger and Wegmans.

The debate is about to get more noisy as Beyond Meat, which began selling its burger patties to retailers about three years ago, begins to face more plant-based competitors in stores.

The maker of plant-based hamburgers and sausages said it expects net revenues in 2019 to exceed $210 million, an increase of more than 140% compared to 2018. The plant-based burger company did not comment, but noted in its regulatory filings that its growth could be stunted depending on placement. Later that month, Beyond shared that it will start making its product in the Netherlands next year, in order to reach European customers more quickly. But even its CFO told Food Dive last month that the latest addition to its coffers may not be enough.

But the bulk of that growth came from sales to restaurants, which increased almost 500% in the quarter thanks to deals with chains such as Carl's Jr. and Del Taco.

"We are very conservative and view this as a floor", Chief Executive Officer Ethan Brown said on a conference call when asked about the revenue forecast. As sales grow, more companies are jumping into the crowded plant-based space. Tyson Foods, which sold its minority stake in Beyond Meat shortly before its recent IPO, announced that it is launching its own meatless products this summer.

The company's stock, which has a market value of $7.8 billion, is up more than 400% since it went public at the beginning of May.

Brown also expressed confidence that the company can scale up quickly if it enters into further partnerships with restaurant chains.

Tyson Foods Inc, the largest US meat processor, is also working on its own line of alternative protein products after it sold its stake in Beyond Meat in April.

Beyond Meat declined to comment ahead of its first earnings report scheduled for Thursday afternoon. As of Friday morning, shares were trading at United States dollars 128 per share, representing over a 400% increase since then, making Beyond Meat the best performing IPO this year so far.

Like this



09 Июня 2019
Kevin Jonas feared lack of fan demand for Jonas Brothers comeback
In an interview with Apple Music, Nick opened up about writing "I Believe" for Priyanka , who he married late a year ago in India. You did the research, you did the work, and you delivered.

09 Июня 2019
China to Defy UK-Hong Kong Handover Agreement with New Extradition Bill
The proposal comes on the back of a Hong Kong teenager who allegedly murdered his pregnant girlfriend while on holiday in Taiwan. Another phrase with exactly the same pronunciation also means to farewell a loved one who is dying.

09 Июня 2019
Rafael Nadal beats Dominic Thiem to win his 12th French Open title
The 33-year-old Spaniard cruised to victory on Sunday, and it appeared his extra rest made a world of difference. Thiem will face 11-time champion Rafael Nadal for the trophy on Sunday in a rematch of last year's final.

09 Июня 2019
Nikita Parris looking to make instant impact at Women’s World Cup
Teenager Giulia Gwinn scored the only goal of the game as Germany beat China to get their Group B campaign off to a flyer. England forward Nikita Parris is keen to start her first Women's World Cup with a bang.

09 Июня 2019
Biden leads tighter top tier in Iowa
That makes the results of this poll not directly comparable to past polls of the presidential field, the Register said. And you see it bunched up amongst the three virtually tied for second place: "Sanders, Warren, and Buttigieg".

09 Июня 2019
Bundesbank lowers economic forecast for Germany to 0.6 pct
Bundesbank predicts growth of 1.2 per cent in 2020, down from the 1.6 per cent predicted in December. Lackluster exports are taking its toll on industry, the bank noted.

09 Июня 2019
All X-Men Movies Ranked Best to Worst, By Rotten Tomatoes Rating
This is the story of one of the X-Men's most beloved characters, Jean Grey , as she evolves into the iconic DARK PHOENIX . Speaking to io9, Kinberg explained how the Marvel Cinematic Universe movie helped the X-Men movie.

09 Июня 2019
Plant more trees to beat air pollution: Kerala forest minister
Nelson Nwosu, made the call yesterday in Aba while speaking with journalists on World Environment Day . India has repeatedly failed to address environmental concerns.

09 Июня 2019
Thiem ends Djokovic streak to reach French final
However, he knows he can not under-estimate Austria's Dominic Thiem when they meet again in the final at Roland Garros . But Thiem more than deserves to be facing Nadal again in Paris, and for the third time in a major in the a year ago .

09 Июня 2019
Tariffs on Chinese goods could go up at least another $300 billion
So far this year, the USA trade gap is still two percent higher than the same period in 2018. "Mexico was in yesterday". Gao said the list did not target specific industries, companies or individuals, and details would be disclosed soon.