Investors in Beyond Meat will be apprehensive going into its fourth-quarter earnings after the company fell short of expectations in Q3.
The leading producer of plant-based meat substitutes has had a rollercoaster ride since its May 2019 IPO, which saw its stock price soar 163% in a single day and continue to climb, before tumbling in the subsequent months.
However, with its stock up more than 20% year-to-date (YTD) and a number of hot new partnerships on the table, could 2021 be the year that Beyond Meat (NASDAQ: BYND) takes things to the next level?
When is Beyond Meat’s earnings date?
Beyond Meat reports earnings for the fourth quarter of 2020 on Thursday, 25th of February after the market closes, at 5:00 PM EST.
How can I listen to Beyond Meat’s earnings call?
To listen to the call and to access the transcript, as well as the shareholder’s letter and the financial statements for the quarter, all you need to do is go to Beyond Meat’s investor relations page here.
What to expect from Beyond Meat’s earnings
There’s good and bad news for Beyond Meat going into Thursday’s earnings call:
- The good news is that it should easily beat its own expectations.
- The bad news is that it doesn’t have any expectations, providing no guidance following Q3’s earnings miss.
Luckily, there are plenty of analysts on Wall Street who were happy to give their two cents, with the consensus revenue estimate coming in at $123.3 million (up 27% YoY) and the company expected to breakeven on the bottom line. This compares to results in the same period of 2019 where revenue came in at $98.5 million while EPS was -$0.01.
Investors will hope to see the company handily surpass that figure, given the disappointment of Q3, where revenue only rose 3% YoY. Expansion into more than 10 countries in the past year, including China, as well as partnerships with PepsiCo, McDonald’s, Starbucks, Yum Brands, and much more, will hopefully begin to pay dividends for the company.
While Beyond Meat remains a risky play for investors, the increased popularity of meat-alternatives has seen its total addressable market (TAM) soar to an estimated $1.4 trillion across the globe. How Beyond Meat positions itself against its numerous competitors in the coming years will be critical to the company’s success.
You can read more about our thoughts on Beyond Meat here.
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MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in companies mentioned above. Read our full disclosure policy here.