Loading...
•
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.
Beyond Meat
Beyond Meat
Beyond Meat Revenue by Segment
Revenue by Segment
U.S. Retail Revenue
CapyFin.comU.S. Foodservice Revenue
CapyFin.comInternational Retail Revenue
CapyFin.comInternational Foodservice Revenue
CapyFin.com 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