Beyond Meat is revamping its signature plant-based burger, hoping that healthier ingredients will help it boost flagging US sales.The El Segundo, California-based company said Wednesday its new Beyond Burger patties and Beyond Beef grounds cut saturated fat by 60% by switching from canola and coconut oils to avocado oil. The new beef products also have less sodium and more protein.The new products go on sale in the US this spring. 3 The latest iteration of the plant-based Beyond Burger. The new beef produ ...

The latest iteration of the Beyond Burger, made with avocado oil and 20% less sodiumBeyond Meat is launching a new version of its plant-based burger in grocery stores this spring, betting that an even healthier version of its burgers will lure back consumers.The unveiling Wednesday comes at a pivotal time for Beyond as a company. The plant-based meat category, once buzzy, has lost consumers' interest. Retail sales of meat alternatives have fallen 33.6% compared with a year ago as of Jan. 28, according to Ci ...

ESG, or environmental, social and governance-driven investing has been one of the hottest trends in investing over the past decade. Investors increasingly want to make money while also making the world a better place. And there’s nothing wrong with that.However, sometimes companies use green imagery to gloss over less appealing parts of their businesses. It’s great when firms can prosper while also making a tangible positive impact in the world.But management teams should never lose sight of the central rea ...

Despite recent economic indicators like GDP and consumer sentiment suggesting resilience in the U.S. economy, that doesn’t mean all consumer stocks are booming right now. In fact, there are plenty that are best described as doomed consumer stocks.For some of these names, macro-related challenges are negatively affecting their operating performance, leading to big price declines, and the risk of further price declines. The economic picture is not quite as rosy in other parts of the world. Even in the U.S., w ...

The stock market rally that kicked into high gear in late 2023 hasn't left investors with many screaming buy opportunities. The tech-heavy Nasdaq Composite is up 37% in the past full year, and the S&P 500 jumped nearly 22% in that time.Value-focused investors like to hunt for stocks that have been left out of these types of rallies in hopes of finding a hidden gem. Previously well-loved stocks can find their way back into Wall Street's good graces, after all, potentially supercharging returns for patient in ...

Several years ago, the idea of vegan stocks may have been laughable. We’re Americans and in America, we eat meat…real meat. That might have been the prevailing attitude and in some regions perhaps, that’s still the case. Nevertheless, thanks to the emerging Generation Z, a food paradigm might be shifting soon.Here are a few facts to consider. First, according to the website Medical Inspiration Daily For Stronger Society (MIDSS), its poll of 3,000 Gen Z individuals (defined as people born between 1997 to 201 ...

Shares of plant-based meat company Beyond Meat (BYND -3.68%) gained 22.1% in December, according to data provided by S&P Global Market Intelligence. The stock was up close to 45% in mid-December before slowly drifting back down, showing that most of the action for Beyond Meat was early in the month. During December, Beyond Meat didn't issue any press releases to investors. And the only filings with the Securities and Exchange Commission (SEC) pertained to stock trades from insiders -- extremely common for a ...

Is Beyond Meat (BYND 1.30%) a future feast or a financial famine? Once celebrated as a trailblazer in the plant-based meat revolution, the company has seen its share price shrivel by over 95% since 2021, a blaring distress signal in a young and volatile industry.Digging through Beyond Meat's financials and ongoing attempts to transform the global food landscape reveals a business with deep-seated issues -- from dwindling sales to persistent profitability challenges -- that keep this stock off my shopping li ...

Beyond Meat, Inc. (NASDAQ:BYND) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Paul Shepherd - Investor Relations Ethan Brown - Founder, President and Chief Executive Officer Lubi Kutua - Chief Financial Officer and Treasurer Conference Call Participants Alexia Howard - Bernstein Ben Theurer - Barclays Adam Samuelson - Goldman Sachs Peter Saleh - BTIG Michael Lavery - Piper Sandler Operator Good day and welcome to Beyond Meat, Inc. 2023 Third Quarter Conference Call. [Oper ...

Business Performance - In the first nine months of 2023, the company faced prolonged softening of demand in the plant-based meat category, high inflation, and rising interest rates, which adversely impacted net revenues, gross profit, and cash flows [169]. - In Q3 2023, net revenues decreased by $7.2 million, or 8.7%, compared to the prior year, driven by an 11.6% decrease in net revenue per pound, partially offset by a 3.5% increase in volume sold [200]. - U.S. retail sales in Q3 2023 decreased by $15.7 million, or 33.9%, primarily due to an 18.8% decrease in volume sold and an 18.6% decrease in net revenue per pound [202]. - International net revenues increased by $11.9 million, or 58.7%, in Q3 2023 compared to the prior year, driven by strong performance in retail and foodservice channels [200]. - U.S. retail sales net revenues decreased by $70.1 million, or 36.3%, primarily due to a 30.3% decrease in volume sold and an 8.5% decrease in net revenue per pound [210]. - U.S. foodservice sales net revenues decreased by $14.9 million, or 27.2%, with a 32.0% decrease in volume sold, partially offset by a 7.0% increase in net revenue per pound [211]. Cost Management - The company announced a workforce reduction of approximately 65 employees, representing about 19% of its global non-production workforce, aimed at improving cost structure [172]. - The company expects to incur one-time cash charges of approximately $2.0 million to $2.5 million related to a workforce reduction of about 65 employees, or 19% of the global non-production workforce [192]. - The reduction-in-force is expected to result in cash operating expense savings of approximately $9.5 million to $10.5 million in 2024 [193]. - Selling, general, and administrative expenses for Q3 2023 were $53.3 million, a decrease from $54.5 million in Q3 2022, as part of cost-reduction initiatives [190]. - Research and development expenses for Q3 2023 were $9.1 million, down from $13.4 million in Q3 2022, reflecting a focus on optimizing operating expenses [188]. Strategic Focus - The company is focusing on sustainable long-term growth, including narrowing its commercial focus to certain growth opportunities and prioritizing gross margin expansion and cash generation [171]. - The company is committed to developing a comprehensive ESG program to address environmental and social issues associated with conventional animal protein production [174]. - The company is enhancing its marketing efforts to counter misinformation and drive consumer adoption of its products, focusing on taste, health, and environmental benefits [178]. - The company is investing in localized production and third-party partnerships to improve production costs and increase product availability internationally [178]. - The company is reviewing its global operations to narrow its commercial focus and reduce operating expenses [240][242]. Financial Health - The company incurred a net loss of $183.0 million for the nine months ended September 30, 2023, leading to net cash used in operating activities of $79.3 million [253]. - As of September 30, 2023, the company had $217.5 million in unrestricted cash and cash equivalents, and $15.3 million in restricted cash [249]. - The company achieved cash flow positive operations in Q3 2023 but does not expect to sustain this in Q4 2023 due to various uncertainties [244]. - The company recorded a credit of $(4,000) in restructuring expenses for Q3 2023, compared to $7.0 million in the prior-year period [226][235]. - Total other income, net, for the nine months ended September 30, 2023, was $1.9 million, compared to total other expense of $11.4 million in the prior-year period [230]. Market Presence - As of September 2023, Beyond Meat products were available at approximately 183,000 retail and foodservice outlets in over 75 countries, including about 46,000 U.S. retail outlets unique to Beyond Meat Jerky [168]. - The company had approximately 36,000 international retail outlets and 26,000 international foodservice outlets as of September 2023 [204][205]. - The company is restructuring contracts and operating activities related to Beyond Meat Jerky, which is expected to limit distribution reach and reduce total U.S. retail distribution outlets in subsequent quarters [168]. Research and Development - The company anticipates continued investment in research and development to enhance product formulations and capture a larger share of consumers who typically eat animal-based meats [188]. - Research and development expenses decreased by $4.3 million, or 32.0%, to $9.1 million in Q3 2023, and by $19.0 million, or 38.5%, to $30.3 million in the nine months ended September 30, 2023 [222][223]. Future Outlook - The company is experiencing challenges such as weak demand in the plant-based meat category, macroeconomic headwinds, and increased competitive activity, which may impact future revenue growth [179]. - The company expects to incur costs related to restructuring and may not fully realize the anticipated cost savings from these actions [247]. - The company plans to reduce its workforce by approximately 65 employees, representing about 8% of its total global workforce, with expected one-time cash charges of approximately $2.0 million to $2.5 million [246][247].