Beyond Meat (NASDAQ: BYND) reported Q4 EPS of ($1.05), $0.13 better than the analyst estimate of ($1.18). Revenue for the quarter came in at $79.9 million versus the consensus estimate of $75.92 million.

Outlook

The Company's operating environment continues to be affected by near-term uncertainty related to macroeconomic issues, including inflation and rising interest rates, demand in the plant-based meat category, increasing concerns about the likelihood of a recession, increased competition, supply chain disruptions, challenges related to labor availability and, to a lesser extent, COVID-19 and its potential impact on consumer behavior and demand levels, among other things, all of which could have unforeseen impacts on the Company’s actual realized results. Based on management's best assessment of the environment today, the Company is providing the following outlook for the full year 2023:

• Net revenues are expected to be in the range of approximately $375 million to $415 million, representing a decrease of approximately 10% to 1% compared to 2022.
• Gross margin is expected to be in the low double-digit range, increasing sequentially throughout the year.
• Operating expenses are expected to be approximately $250 million, weighted slightly more towards the first half of the year.
• Capital expenditures are expected to be in the range of $30 million to $35 million.
• The Company continues to target achievement of cash flow positive operations within the second half of 2023.

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