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Jun 27, 2020
Beyond Meat Q2 2020 Earnings Report
Reported record net revenues with significant growth driven by retail channel amidst COVID-19 challenges.
Key Takeaways
Beyond Meat reported a 69% increase in net revenues to a record $113.3 million for the second quarter of 2020. The growth was primarily driven by increased retail channel sales, which offset a reduction in foodservice channel sales due to the COVID-19 pandemic. The company invested in expanded operations, innovation, and targeted pricing measures.
Net revenues increased by 69% year-over-year, reaching $113.3 million.
Retail channel net revenues surged by 192% year-over-year due to higher household penetration and increased average spending per household.
Gross profit was $33.7 million, with an adjusted gross profit of $39.6 million, excluding COVID-19 related expenses.
Net loss was $10.2 million, but adjusted net loss was $1.2 million after excluding expenses related to COVID-19 and early debt extinguishment.
Beyond Meat
Beyond Meat
Beyond Meat Revenue by Segment
Beyond Meat Revenue by Geographic Location
Revenue by Segment
U.S. Retail Revenue
CapyFin.comU.S. Foodservice Revenue
CapyFin.comInternational Retail Revenue
CapyFin.comInternational Foodservice Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Due to the COVID-19 pandemic, management remains unable to predict the continuing impact of COVID-19 on its business for the balance of the year with reasonable certainty. As such, the Company’s 2020 outlook, previously provided on February 27, 2020, remains suspended until further notice.
Revenue & Expenses
Visualization of income flow from segment revenue to net income