Beyond Meat (BYND) Reports Q1 Loss, Lags Revenue Estimates

09.05.24 00:00 Uhr

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Beyond Meat (BYND) came out with a quarterly loss of $0.72 per share versus the Zacks Consensus Estimate of a loss of $0.68. This compares to loss of $0.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.88%. A quarter ago, it was expected that this plant-based meat company would post a loss of $0.82 per share when it actually produced a loss of $0.92, delivering a surprise of -12.20%.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.Beyond Meat, which belongs to the Zacks Food - Meat Products industry, posted revenues of $75.6 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 2.68%. This compares to year-ago revenues of $92.24 million. The company has topped consensus revenue estimates just once over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Beyond Meat shares have lost about 7% since the beginning of the year versus the S&P 500's gain of 8.8%.What's Next for Beyond Meat?While Beyond Meat has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Beyond Meat: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.55 on $101.18 million in revenues for the coming quarter and -$2.29 on $334.89 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the top 1% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Hormel Foods (HRL), another stock in the same industry, has yet to report results for the quarter ended April 2024. The results are expected to be released on May 30.This maker of Spam canned ham, Dinty Moore stew and other foods is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -10%. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level.Hormel Foods' revenues are expected to be $2.99 billion, up 0.3% from the year-ago quarter.Top 5 Dividend Stocks for Your RetirementZacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.See our Top 5 now – the report is FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Beyond Meat, Inc. (BYND): Free Stock Analysis Report Hormel Foods Corporation (HRL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Analysen zu Beyond Meat

DatumRatingAnalyst
10.11.2022Beyond Meat UnderperformCredit Suisse Group
10.11.2022Beyond Meat Equal WeightBarclays Capital
10.11.2022Beyond Meat NeutralUBS AG
10.11.2020Beyond Meat UnderperformBernstein Research
10.11.2020Beyond Meat SellGoldman Sachs Group Inc.
DatumRatingAnalyst
28.02.2020Beyond Meat buyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
29.10.2019Beyond Meat overweightBarclays Capital
29.10.2019Beyond Meat overweightJP Morgan Chase & Co.
19.09.2019Beyond Meat overweightBarclays Capital
DatumRatingAnalyst
10.11.2022Beyond Meat Equal WeightBarclays Capital
10.11.2022Beyond Meat NeutralUBS AG
28.01.2020Beyond Meat NeutralJP Morgan Chase & Co.
29.10.2019Beyond Meat NeutralGoldman Sachs Group Inc.
29.10.2019Beyond Meat market-performBernstein Research
DatumRatingAnalyst
10.11.2022Beyond Meat UnderperformCredit Suisse Group
10.11.2020Beyond Meat UnderperformBernstein Research
10.11.2020Beyond Meat SellGoldman Sachs Group Inc.
18.09.2020Beyond Meat UnderweightJP Morgan Chase & Co.
06.05.2020Beyond Meat SellUBS AG

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für Beyond Meat nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"
Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"
Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"