Beyond Meat share price up 16% after Q1 results revenue beat

The plant-based food company's stock jumps after a mostly positive Q1 earnings report.

Beyond Meat logo Source: Bloomberg

Beyond Meat share price is surging in US after hours trading after its first ever earnings report since launching its initial public offering (IPO). The alternative meat producer’s stock has soared above its listed IPO price of $25 after going public in May.

Beyond Meat earnings: key figures

Revenue $40.2 million
Net loss $6.6 million

Beyond Meat’s first ever earnings report beats expectations

Beyond Meat’s Q1 revenue was $40.2 million, surpassing financial experts’ predictions of $38.9 million. The company’s chief executive officer (CEO), Ethan Brown, spoke about Beyond Meat’s Q1 results.

‘We are very pleased with our successful IPO during the month of May and our strong first-quarter financial results that we believe demonstrate mainstream consumers’ desire for plant-based meat products in the United States and internationally,’ said Brown.

Beyond Meat Q1 results show struggle to turn a profit

While Beyond Meat’s Q1 revenue was impressive, the company still reported major losses. The food producer’s net loss was $6.6 million, exceeding the 2018 net loss of $5.7 million. Financial analyst, Jennifer Bartashus, noted that Beyond Meat will have trouble becoming profitable with increasing expenses to drive customer growth.

‘One of the challenges Beyond Meat will face over the next year is balancing investments needed to drive sales and consumer adoption with improving the company’s profitability outlook,’ said Bartashus.

What’s Beyond Meat’s full-year guidance?

Beyond Meat provided full-year guidance of $210 million in revenue. The company’s high full-year guidance beats Wall Street predictions of $205 million. Brown spoke about his ambitious goals for Beyond Meat.

'Looking ahead, we believe we are in the early stages of achieving the growth that Beyond Meat is capable of as we remain focused on efforts to increase brand awareness, expand our distribution channels, launch additional innovative products, and invest in our infrastructure and capacity to be able to serve a robust global market for plant-based meats,’ said Brown.


IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.