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Sep 28, 2024
Beyond Meat Q3 2024 Earnings Report
Beyond Meat's financial performance improved with revenue growth and margin expansion.
Key Takeaways
Beyond Meat reported a 7.6% increase in net revenues to $81.0 million and a gross profit of $14.3 million, a significant improvement from the previous year. The company also narrowed its operating loss and net loss, driven by increased gross profit and reduced operating expenses. The company expects to increase cash reserves by year-end and pursue further balance sheet restructuring in 2025.
Net revenues increased by 7.6% year-over-year to $81.0 million.
Gross profit was $14.3 million, with a gross margin of 17.7%.
Loss from operations improved to $30.9 million.
Net loss decreased to $26.6 million, or $0.41 per common share.
Revenue by Segment
Revenue by Geographic Location
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 $330 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 $10 million to $15 million.
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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