Financial Performance - Net revenues for Q2 2024 were $93.2 million, a decrease of 8.8% year-over-year from $102.1 million[1][4] - Gross profit increased to $13.7 million with a gross margin of 14.7%, compared to a gross profit of $2.3 million and a margin of 2.2% in the prior year[1][13] - Loss from operations improved to $33.9 million, or -36.4% operating margin, compared to a loss of $53.8 million and -52.7% margin in the year-ago period[1][14] - Adjusted EBITDA loss was $23.0 million, or -24.7% of net revenues, an improvement from a loss of $40.8 million, or -40.0% of net revenues, in the prior year[2][15] - Net revenues for the three months ended June 29, 2024, were $93.185 million, a decrease of 8.8% compared to $102.149 million for the same period in 2023[33] - Gross profit for the six months ended June 29, 2024, was $17.385 million, up from $8.458 million in the same period of 2023, representing a significant improvement[33] - The net loss for the six months ended June 29, 2024, was $88.840 million, compared to a net loss of $112.542 million for the same period in 2023, showing a narrowing of losses[33] - Adjusted loss from operations for the three months ended June 29, 2024, was $(33,931) thousand, compared to $(53,754) thousand for the same period in 2023, reflecting a significant improvement[43] - Adjusted net loss for the three months ended June 29, 2024, was $(34,479) thousand, down from $(53,505) thousand in the prior year, indicating a reduction in losses[44] - Total net loss for the six months ended June 29, 2024, was $(88,840) thousand, compared to $(112,542) thousand for the same period in 2023, reflecting a reduction in overall losses[44] Revenue Channels - U.S. retail channel net revenues decreased by 7.5% to $44.9 million, driven by a 23.2% decrease in volume sold[5][9] - International retail channel net revenues decreased by 12.1% to $17.6 million, primarily due to a 6.9% decrease in net revenue per pound[7][9] Future Projections - The company expects full-year 2024 net revenues to be in the range of $320 million to $340 million[17] - Capital expenditures for 2024 are projected to be between $15 million and $20 million[17] Cash and Debt Management - The company's cash and cash equivalents were $158.0 million, with total outstanding debt of $1.1 billion as of June 29, 2024[16] - Total current assets decreased to $317.265 million as of June 29, 2024, down from $372.844 million at the end of 2023[34] - Cash and cash equivalents at the end of the period were $158.009 million, a decrease from $225.933 million at the end of the same period in 2023[35] - Total liabilities and stockholders' deficit as of June 29, 2024, were $711.234 million, down from $774.450 million at the end of 2023[34] - The company reported a net cash used in operating activities of $47.814 million for the six months ended June 29, 2024, compared to $88.336 million for the same period in 2023, indicating improved cash flow management[35] Operational Strategy - Beyond Meat is focusing on cost-reduction initiatives and narrowing its commercial focus to certain growth opportunities as part of its Global Operations Review initiated in November 2023[24] - The company has recently increased prices for certain products in its U.S. retail and foodservice channels to improve gross margins[24] - New product launches include the Beyond IV platform and the Beyond Sun Sausage line, aimed at expanding market share and revenues[24] - Beyond Meat is reviewing its operations in China and optimizing its manufacturing capacity and real estate footprint[24] - The company continues to focus on expanding its product offerings and market presence, leveraging social media for investor relations and product announcements[32] Market Challenges - The company is facing ongoing uncertainty related to macroeconomic issues, including high inflation and interest rates, which may impact demand in the plant-based meat category[23] - The company is experiencing challenges related to consumer confidence and spending patterns, which could affect sales velocity and market share[25] - Risks include potential impairment charges and the impact of economic conditions on the company's financial performance[25] - Beyond Meat's ability to attract and retain key strategic foodservice partners is crucial for maintaining market share and expanding distribution[26] - The company is committed to protecting its brand against misinformation and maintaining its reputation in the plant-based meat category[26] Research and Development - Research and development expenses decreased to $5.485 million for the three months ended June 29, 2024, from $8.773 million in the same period of 2023, indicating a reduction in R&D spending[33] Non-GAAP Financial Measures - The company emphasizes that non-GAAP financial measures, such as adjusted loss from operations and adjusted EBITDA, are useful for assessing ongoing operational performance and should not be viewed in isolation from GAAP measures[39]

The Nasdaq and S&P 500 had their worst days since 2022, driven by disappointing earnings from mega-cap names. Recession indicators are flashing yellow, with the “Sahm Rule” unemployment metric edging dangerously close to signaling a downturn.Yes, the inverted yield curve has been wrong so far this time around, but that doesn’t mean we should ignore other warning signs. Corporate bond spreads are whispering “economic slowdown,” and consumer debt delinquencies are ticking up. While I still believe there are b ...

EL SEGUNDO, Calif., July 24, 2024 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, announced today it will report financial results for the second quarter ended June 29, 2024 on Wednesday, August 7, 2024 after market close. The Company will host a conference call to discuss these results at 5:00 p.m. Eastern, 2:00 p.m. Pacific. Investors interested in participating in the live call can dial 412-902-4255. There will also be a simultaneous, l ...

The delicious, flavor-forward links are made from wholesome plant-based ingredients including yellow pea, brown rice, faba bean and red lentil proteins and available in three irresistible flavors: Cajun, Pesto and Pineapple Jalapeño With 12g of clean protein per link and just 1g of saturated fat, Beyond Sun Sausage is certified as a heart-healthy food by the American Heart Association's Heart-Check program and the American Diabetes Association's Better Choices for Life program EL SEGUNDO, Calif., July 23, ...

A restructuring could leave investors holding the bag.Beyond Meat (BYND -10.32%) came to public markets with high hopes, but the business has deteriorated rapidly over the last few years. In this video, Travis Hoium covers recent reports about the company restructuring and why there's not much hope for it.*Stock prices used were end-of-day prices of July 17, 2024. The video was published on July 18, 2024. ...

The plant-based meat craze may be over for one of the industry’s top companies likely on its way out. Beyond Meat (NASDAQ:BYND) stock once traded at more than $230 per share as consumers bought up its products. But years later, BYND stock has bled out almost all of its value, falling 97% since its 2019 peak.Bad news had been steadily piling up for years for Beyond Meat and yesterday things only got worse. A report from The Wall Street Journal reveals that Beyond Meat is in talks with bondholders regarding b ...

Rumors of a restructuring are credible, even if they're unconfirmed.There was a time when Beyond Meat (BYND -10.04%) was hailed as a must-have investment due to the planet-saving nature of its products. Now the plant-based meat manufacturer is seemingly fighting for its own survival. Beyond Meat shares are down 10.6% as of 12:05 p.m. ET today, according to data from S&P Global Market Intelligence, in response to reports that the company is looking to restructure its debt.That's the polite way of saying the ...

The U.S. markets are trading at all-time highs, and gold is nearing $2,500 an ounce. Little doubt exists that a rate cut is coming soon. As the markets are embrace euphoria, expect ample opportunities to make quick money. So, we will examine meme stocks to sell so that capital can be preserved.Even in the biggest of bull markets, laggards and underperformers are apparent. Therefore, investors need to exercise caution and focus on fundamentals over price. Even the meme stocks need a reason to skyrocket. If b ...

New tissue engineering and regenerative medicine techniques are pushing the cultured meat industry forward, which will be a boon for cultured meat stocks. The methods of producing cultured meat are improving, making it cheaper and improving texture to resemble ordinary meat. Customer awareness of sustainable and animal-friendly meat products, as well as the fear of diseases, is increasing, which boosts the market for cultured meat products. Also, more and more investors are aware that cultured meat could si ...

The Zacks Food – Meat Products industry players have been benefiting from increased consumer demand for protein-rich products, driven by a heightened focus on health and wellness. Initiatives to leverage these trends through product diversification, capacity expansion and the exploration of plant-based meats have been highly effective.However, several meat companies have been battling hurdles associated with inflated input costs and high operating expenses. Nonetheless, the abovementioned upsides keep Tyson ...