Beyond Meat missed every Q3 expectation

By: Miguel A. Rodriguez

13:49, 10 November 2020

Beyond Meat shares plunged after the report

The California – based company Beyond Meat posted Q3 2020 figures that didn’t impress Wall Street.

In Q3, Beyond Meat reported losses per share of 0.28 cents, while the market was looking for an EPS of 0.5 cents. The revenue also came below the $132.8 million consensus at $94.4 million.

According to Beyond Meat, people are not staking up on food now as much as they did at the beginning of the pandemic. The sales from restaurants and catering services made the US foodservice segment report an 11% decrease.

Despite the 40.5% increase reported in the US grocery sales, the lower demand from restaurants couldn’t be offset.

On the other side, McDonald’s announced its McPlant – a plant-based patty and chicken substitute made in conjunction with Beyond Meat.

Beyond Meat stock price oscillated between losses and gains. After its report, the stock price plunged almost 29%, but after McDonald’s announcement, it managed to recover roughly a quarter.

Read more about how companies have performed in the past quarter here!


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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.