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Jun 29, 2024
Beyond Meat Q2 2024 Earnings Report
Beyond Meat's Q2 2024 financial performance marked by revenue decline, improved gross margin, and reduced operating expenses.
Key Takeaways
Beyond Meat reported a decrease in net revenues by 8.8% year-over-year, totaling $93.2 million for Q2 2024. However, the company saw improvements in gross profit and a reduction in operating expenses, leading to a smaller net loss compared to the year-ago period. The company is also updating its outlook for the full year 2024.
Net revenues decreased by 8.8% year-over-year to $93.2 million.
Gross profit increased to $13.7 million, with a gross margin of 14.7%.
Operating loss decreased to $33.9 million due to reduced operating expenses.
Net loss improved to $34.5 million, or $0.53 per share.
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
The Company is updating its outlook for the full year 2024.
Positive Outlook
- Net revenues are expected to be in the range of $320 million to $340 million.
- Gross margin is expected to be in the mid-teens range.
- Operating expenses, excluding the $7.5 million expense related to the consumer class action settlement accrued in the first quarter of 2024, are expected to be in the range of $180 million to $190 million.
- Capital expenditures are expected to be in the range of $15 million to $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income