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Beyond Meat, Inc. (NASDAQ: BYND) is a trailblazer in the plant-based meat industry, offering a wide array of revolutionary products. Founded in 2009, the company is committed to transforming the future of protein by creating delicious and nutritious meat alternatives directly from plants. Beyond Meat’s product lineup includes popular items such as burgers, sausages, ground beef, jerky, meatballs, and chicken, designed to replicate the taste and texture of traditional animal-based meats while providing significant nutritional and environmental benefits.
By bypassing the animal altogether, Beyond Meat enables families to enjoy dishes they love, like beef nachos, chili, pasta Bolognese, and chicken fajitas, without the downsides associated with animal protein. The company's mission is deeply rooted in positively impacting human health and the health of our planet. Beyond Meat's products are available in major retailers such as Whole Foods, Target, Safeway, Publix, and Walmart, as well as over 11,000 stores nationwide and various food service distributors.
Recently, Beyond Meat announced a strategic partnership with Madison Square Garden Sports Corp. and Madison Square Garden Entertainment Corp., becoming the first-ever Official Plant-Based Meat Partner of Madison Square Garden. This collaboration includes the launch of the GO BEYOND® GRILL, which will exclusively feature Beyond Meat's products during events at the iconic venue. The new concession stand will offer items like the Beyond® Smashable Burger and the meatier Beyond Sausage®, alongside exclusive dishes featuring Beyond Steak®.
Financially, the company has faced some challenges. In the third quarter of 2023, Beyond Meat reported a revenue decline of 8.7% compared to the previous year, with net revenues reaching $75.3 million. Despite this, the company continues to expand its global footprint, with products available in approximately 190,000 retail and foodservice outlets across over 75 countries. The company remains focused on long-term strategies to reduce operating expenses and improve profitability.
Beyond Meat's commitment to innovation is evident in its continuous efforts to improve its product offerings. The company's products are made from simple, plant-based ingredients and are free from GMOs, added hormones, antibiotics, and cholesterol. This dedication to quality and sustainability underscores Beyond Meat's brand promise: Eat What You Love®. By shifting from animal-based meat to plant-based protein, Beyond Meat aims to address critical global issues such as human health, climate change, resource constraints, and animal welfare.
Beyond Meat (NASDAQ: BYND) has released its 2023 ESG Report and Life Cycle Assessment (LCA) study for Beyond Steak, highlighting significant environmental benefits compared to pre-cooked beef-based steak tips. The study, which underwent third-party review and followed ISO recommendations, reveals that Beyond Steak generates 84% less greenhouse gas emissions, requires 93% less water, 88% less land use, and 65% less non-renewable energy.
The report includes expanded disclosures on climate management, including corporate-level GHG inventory across Scope 1, 2, and 3 emissions, and climate-related financial risk assessment. New impact attributes show Beyond Steak creates 94% less terrestrial acidification, 95% less marine eutrophication, and 77% less freshwater eutrophication compared to beef alternatives. Beyond Steak also meets the American Heart Association's Heart-Check Mark criteria.
Beyond Meat (NASDAQ: BYND) announces the nationwide rollout of Beyond Sun Sausage™ at Whole Foods Market stores following a successful July launch. The product line, available in Pesto and Cajun flavors, has become a top-selling new plant-based meat in natural grocery retailers. Unlike Beyond Meat's core products, it's not designed to replicate traditional meats. Each link contains 12g of protein from pea, brown rice, and red lentil proteins, with only 1g of saturated fat. The product has earned certifications from the American Heart Association's Heart-Check program and the American Diabetes Association's Better Choices for Life program.
Beyond Meat (NASDAQ: BYND) reported its Q3 2024 financial results with net revenues of $81.0 million, a 7.6% increase year-over-year. The gross profit was $14.3 million, marking a significant improvement from a loss of $7.3 million a year ago. Net loss decreased to $26.6 million from $70.5 million, while adjusted EBITDA loss improved to $19.8 million from $57.5 million. U.S. retail and foodservice channels saw revenue increases of 14.6% and 15.5%, respectively. However, international foodservice revenue declined by 17.2%. Operating expenses were reduced to $45.2 million from $62.4 million. The company expects 2024 net revenues to be between $320 million and $330 million, with a gross margin in the mid-teens. As of September 28, 2024, cash and cash equivalents were $134.9 million, with total debt at $1.1 billion.
Beyond Meat (NASDAQ: BYND) has scheduled its third quarter 2024 financial results announcement for November 6, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern time to discuss the results. Investors can participate by dialing 412-902-4255, and a simultaneous webcast will be available on the company's investor relations website.
Beyond Meat (NASDAQ: BYND) reported Q2 2024 financial results with net revenues of $93.2 million, down 8.8% year-over-year. The company saw a gross profit of $13.7 million (14.7% margin) and a net loss of $34.5 million ($0.53 per share). Despite the revenue decline, Beyond Meat improved its gross margin and reduced operating losses compared to Q2 2023.
Key highlights include:
- U.S. retail channel revenues decreased 7.5% to $44.9 million
- International retail channel revenues fell 12.1% to $17.6 million
- Adjusted EBITDA loss improved to $23.0 million (-24.7% of net revenues)
- Cash and cash equivalents balance was $158.0 million as of June 29, 2024
The company updated its 2024 outlook, projecting net revenues between $320-$340 million and gross margin in the mid-teens range.
Beyond Meat (NASDAQ: BYND), a leader in plant-based meat, has announced it will report its second quarter 2024 financial results on August 7, 2024 after market close. The company will host a conference call to discuss these results at 5:00 p.m. Eastern, 2:00 p.m. Pacific. Investors can participate in the live call by dialing 412-902-4255. Additionally, a live webcast will be available on the Investors section of Beyond Meat's website at www.beyondmeat.com. The webcast will also be archived for future reference.
Beyond Meat (NASDAQ: BYND) has launched Beyond Sun Sausage™, a new plant-based product line exclusively at Sprouts Farmers Market stores nationwide. This innovative offering comes in three flavors: Cajun, Pesto, and Pineapple Jalapeño. Made from wholesome ingredients like yellow pea, brown rice, faba bean, and red lentil proteins, each link contains 12g of clean protein and only 1g of saturated fat.
The product is certified as heart-healthy by the American Heart Association's Heart-Check program and the American Diabetes Association's Better Choices for Life program. Beyond Sun Sausage is versatile, suitable for various meals, and aligns with Beyond Meat's mission to make nutritious, sustainable plant-based eating more accessible.
Beyond Meat has launched its fourth generation Beyond Sausage, available nationwide at major grocery stores like Kroger and Whole Foods Market.
The new Beyond Sausage features enhanced flavor, a meatier texture, and improved nutrition, including 2g of saturated fat and 17g of protein per link. Made with avocado oil, it reduces saturated fat by 66% compared to the previous version and has less sodium.
To celebrate, Beyond Meat also released its first cookbook, Serve Love, featuring heart-healthy recipes certified by the American Heart Association.
Beyond Meat, Inc. reported its first quarter 2024 financial results, with net revenues of $75.6 million, an 18.0% decrease year-over-year. Gross profit was $3.7 million, with a 4.9% margin. Loss from operations was $53.5 million. The company reaffirmed its outlook for 2024, expecting net revenues of $315-$345 million and operating expenses of $170-$190 million.
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