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Jul 02, 2022
Beyond Meat Q2 2022 Earnings Report
Beyond Meat's Q2 2022 financial results reflected a decrease in net revenues and a net loss, impacted by sales to liquidation channels, increased inventory reserves, and Beyond Meat Jerky.
Key Takeaways
Beyond Meat reported a slight decrease in net revenues and a significant net loss for Q2 2022. The results were impacted by increased sales to liquidation channels, higher inventory reserves, and the introduction of Beyond Meat Jerky. Despite inflationary pressures and consumers trading down among proteins, the company recorded its second-largest quarter in terms of net revenues. The company is focused on cost reductions, planned market activities, and strengthening its retail business.
Net revenues decreased by 1.6% year-over-year to $147.0 million.
Gross profit was a loss of $6.2 million, with a gross margin of -4.2%.
Net loss was $97.1 million, or $1.53 per common share.
The company is reducing its global workforce by approximately 4% to achieve annualized savings of approximately $8 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects net revenues to be in the range of $470 million to $520 million for the full year 2022, representing an increase of 1% to 12% compared to 2021.
Positive Outlook
- Management's outlook considers the potential impact from macroeconomic factors assuming present day conditions.
- The company is reducing its global workforce by approximately 4% to achieve annualized savings of approximately $8 million.
- Focus on cost reductions.
- Planned market activities for global strategic partners.
- Strengthening retail business.
Challenges Ahead
- Operating environment continues to be affected by near-term uncertainty related to macroeconomic issues, including inflation and rising interest rates.
- Increasing concerns about the likelihood of a recession.
- COVID-19 and its potential impact on consumer behavior and demand levels.
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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