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Oct 02, 2021
Beyond Meat Q3 2021 Earnings Report
Beyond Meat's Q3 2021 performance reflected variability with a revenue decline from the previous quarter, despite focusing on long-term growth initiatives and investments in innovation and production capabilities.
Key Takeaways
Beyond Meat reported a 12.7% increase in net revenues to $106.4 million for Q3 2021, driven by international growth which offset decreased U.S. revenues. The company experienced a net loss of $54.8 million, and Adjusted EBITDA was a loss of $36.8 million.
Net revenues increased by 12.7% year-over-year to $106.4 million.
International net revenues saw a significant increase of 142.5% year-over-year.
U.S. net revenues decreased by 13.9% compared to the previous year.
Net loss was $54.8 million, or $0.87 per common share.
Revenue by Segment
Forward Guidance
The Company's operating environment continues to be affected by near-term uncertainty related to COVID-19 and its potential impact including on demand levels, labor availability and supply chain disruptions. The Company is providing the following guidance for the fourth quarter of 2021: Net revenues in the range of $85 million to $110 million.
Challenges Ahead
- Moderation in sales growth across all channels
- The Company's fourth quarter 2021 period containing 5 fewer shipping days compared to the fourth quarter of 2020
- Impacts associated with knock-on effects from operational challenges in the third quarter of 2021
- Ongoing operator challenges related to labor issues as well as general caution among customers based on COVID-19-related uncertainty
- Accelerated orders in the third quarter of 2021 that would otherwise have been expected to materialize in the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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