Beyond Meat (BYND) Misses Q4 EPS by 21c

Beyond Meat (NASDAQ: BYND) reported Q4 EPS of ($0.34), $0.21 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $101.9 million versus the consensus estimate of $103.21 million.

Update on COVID-19 and 2021 Outlook:

Due to the COVID-19 pandemic, the Company continues to experience significantly reduced demand in its foodservice channel as decreased foot traffic, streamlined menu offerings and restrictions on foodservice locations’ operating capacity have resulted in closures or meaningfully curtailed operations of many of its foodservice customers. At the same time, the surge in demand from retail customers that characterized the early stages of the pandemic as consumers abruptly shifted towards more at-home consumption has moderated. Given that the ongoing evolution of consumer demand patterns across retail and foodservice channels has significantly increased the difficulty in forecasting the Company's customer demand levels, management will not be providing 2021 guidance until further notice.

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

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