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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.
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 $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