Beyond Meat stock pops after first quarterly report since IPO
The company topped Wall Street's expectations
Products from Beyond Meat, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019.topped analysts' expectations in its first quarterly report since going public, and predicted that its revenue will more than double in 2019 as demand from existing and new customers continues to grow."We're being very conservative and viewing this as a floor," CEO Ethan Brown told analysts on the conference call about its full-year outlook.
On a pro forma basis to adjust for the conversion of stock warrants, Beyond reported a loss of 14 cents per share for its first quarter. The company discontinued its frozen chicken strips during the quarter, causing a decline in revenue for its frozen products. In total, grocery store sales accounted for $19.6 million of its sales this quarter. Sales to restaurants like Carl's Jr. andDiscounts set the company back $3.1 million during the quarter, up from $1.6 million a year ago.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beyond Meat stock soars after first earnings reportBeyond Meat could extend its rally, with shares of the maker of meat alternatives surging in after-hours trading Thursday after the company delivered an...
Read more »
Beyond Meat will report earnings after the bell for the first time since going publicBeyond Meat surged 160% in its first day trading on the public markets and has soared nearly 300% above its initial public offering price.
Read more »
Bad news, meat lovers — both red and white meat could be bad for your cholesterolThere's a commonly-held belief that swapping chicken for beef works to control high cholesterol levels. A new study has put that to pasture:
Read more »
Beyond Meat's home in the meat aisle sparks food fightBeyond Meat bills itself the world’s first plant-based burger sold in the meat case of U.S. grocery stores. But interviews with nine U.S. grocery chains show that retailers are still figuring out Beyond Meat’s best fit in their shopping aisles:
Read more »
Traders bet on a 'very severe' spike for Beyond Meat on earningsThe skyrocketing stock of Beyond Meat could move even more on the alternative meat company's first-ever earnings report, according to the options market.
Read more »
Focus: Beyond Meat's home in the meat aisle sparks food fightIn a bid to directly compete with ground beef and pork sausage, Beyond Meat Inc ...
Read more »