Welcome to our dedicated page for Beyond Meat news (Ticker: BYND), a resource for investors and traders seeking the latest updates and insights on Beyond Meat stock.
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 reported Q3 2020 net revenues of $94.4 million, a 2.7% increase year-over-year. Retail channel sales surged by 39% but were offset by a 41% decline in foodservice sales due to COVID-19. The gross profit stood at $25.5 million with a 27% gross margin. The company faced a $19.3 million net loss, or $0.31 per share. Adjusted net loss was $17.5 million, or $0.28 per share, reflecting ongoing pandemic impacts. Despite challenges, management remains focused on long-term growth opportunities and strategic investments.
Beyond Meat (NASDAQ: BYND) announced it will report its third-quarter results on November 9, 2020, after market close. A conference call to discuss the results is scheduled for 4:30 p.m. ET that day. Investors can join by calling 270-215-9602, with a replay available until November 23. Beyond Meat is recognized for its innovative plant-based meat products and has a significant presence, with availability in approximately 112,000 retail and foodservice outlets across 85 countries as of June 2020.
Beyond Meat has announced the launch of Beyond Breakfast Sausage Links, a new plant-based product designed to mimic traditional pork sausage. These links contain no GMOs, synthetic ingredients, or cholesterol, and have 40% less sodium than a leading brand. Retailing at $5.99 for eight links, the product will be available in various grocery stores nationwide. The company, which has seen significant growth, now offers its products in approximately 26,000 outlets across the U.S. Beyond Meat aims to meet the rising demand for plant-based breakfast options.
Beyond Meat is expanding its distribution of the Beyond Burger® to over 2,400 Walmart locations nationwide, tripling availability from approximately 800 stores. This expansion follows the successful launch of the Cookout Classic™ value pack and aims to enhance accessibility to plant-based products. Beyond Meat continues to lead in the refrigerated plant-based meat category, with products available at 112,000 retail and foodservice outlets in 85 countries. The Beyond Burger offers 20g protein, significantly lower saturated fat, and zero cholesterol.
Beyond Meat is expanding the availability of its Beyond Burger to over 2,400 Walmart locations, tripling its presence from approximately 800 stores. This increase follows the successful launch of the Cookout Classic™ value pack earlier this summer. Beyond Meat aims to enhance accessibility to plant-based meat products, responding to rising consumer demand. Currently, Beyond Meat products are available at around 112,000 retail and foodservice outlets across 85 countries. The Beyond Burger is noted for its 20g of protein and 35% less saturated fat than traditional beef.
Beyond Meat (NASDAQ: BYND) announced the expansion of its popular frozen Beyond Breakfast Sausage Patties to select Kroger, Super Target, Walmart, Publix, and Harris Teeter stores by the end of September.
With plant-based meat demand rising, Beyond Meat leads the refrigerated category, ranking as the #1 seller as of August 9, 2020. Each serving contains 11g of protein, 50% less total fat, and no GMOs or cholesterol. Beyond Meat aims to meet consumer demand for nutritious and sustainable protein options, continuing its growth trajectory with products available at 112,000 outlets across 85 countries.
Beyond Meat has announced the launch of its new product, Beyond Meatballs, which will be available in grocery stores nationwide starting this week. These pre-seasoned, plant-based meatballs are made from simple ingredients and offer 19g of protein with 30% less saturated fat and sodium compared to animal-based alternatives. The product will retail at $6.99 for 12 meatballs and will expand Beyond Meat’s portfolio, which already includes the successful Beyond Breakfast Sausage and Cookout Classic. The release follows growing consumer demand for healthier meal options.
Beyond Meat has signed an agreement with the Jiaxing Economic & Technological Development Zone in China to establish manufacturing facilities for plant-based meat products. This marks Beyond Meat as the first multinational solely focused on plant-based production to set up a major facility in China. The facilities are expected to commence trial production soon, with full-scale production anticipated by early 2021. This initiative aligns with China's significant market potential for plant-based meat.
Beyond Meat reported record net revenues of $113.3 million for Q2 2020, up 69% year-over-year, driven by a 192% increase in retail channel sales. Despite the COVID-19 pandemic impacting foodservice sales, retail growth was fueled by increased household penetration and average spending. Although the net loss reached $10.2 million, adjusted net loss improved to $1.2 million. The company introduced the Cookout Classic™ value pack, which aided in sales growth. The outlook remains suspended due to ongoing pandemic uncertainties.
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