Beyond Meat (BYND) Reports In-Line Q2 EPS, Revenue Beats

(Updated - August 4, 2020 4:20 PM EDT)

Beyond Meat (NASDAQ: BYND) reported Q2 EPS of ($0.02), in-line with the analyst estimate of ($0.02). Revenue for the quarter came in at $113.3 million versus the consensus estimate of $99.84 million.

Update on COVID-19 and 2020 Outlook:

Due to the COVID-19 pandemic, as previously communicated, the Company experienced a meaningful slowdown in its foodservice business as various regions around the world implemented stay-at-home orders, resulting in the closure or limited operations of many of its foodservice customers. At the same time, the Company experienced an increase in demand by its retail customers as consumers shifted towards more at-home consumption, which more than offset the decline in sales to foodservice customers. While many of the Company’s foodservice customers have reopened, most are operating under various local restrictions and continue to navigate a highly uncertain environment. Given the uncertainty regarding the ultimate duration, magnitude and effects of the COVID-19 pandemic, management remains unable to predict the continuing impact of COVID-19 on its business for the balance of the year with reasonable certainty. As such, the Company’s 2020 outlook, previously provided on February 27, 2020, remains suspended until further notice.

For earnings history and earnings-related data on Beyond Meat (BYND) click here.

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