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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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