Beyond Meat (BYND) Misses Q2 EPS by 8c; Guides Below Views for Q3

Beyond Meat (NASDAQ: BYND) reported Q2 EPS of ($0.31), $0.08 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $149.4 million versus the consensus estimate of $142.62 million.

Beyond Meat President and CEO Ethan Brown commented, "We are pleased to report record net revenues and the return to growth in foodservice as our customers welcomed consumers back to their venues. We are also proud of our retail performance, where we drove year-over-year growth despite cycling last year's demand surge driven by consumer panic-buying."

Brown added, "We continue to make substantial investments in our long-term growth here in the U.S. and abroad, maintaining our focus on building innovation, production, and team capabilities for the future. We are thrilled with the response to our new Beyond Chicken product and the continued accolades we are receiving for our latest iteration of the Beyond Burger. Coupled with the week-over-week progress we are seeing with our production capabilities in the EU and China, and our continued advancement of our overall cost-down program, I'm optimistic about what lies ahead. That said, given the recent uptick of COVID-19 cases, which could disrupt demand patterns, we believe caution for the balance of the year generally remains appropriate."

GUIDANCE:

Beyond Meat sees Q3 2021 revenue of $120-140 million, versus the consensus of $153.7 million.

For earnings history and earnings-related data on Beyond Meat (BYND) click here.

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