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

Financial Performance - Beyond Meat reported a quarterly loss of $0.72 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.68, but an improvement from a loss of $0.92 per share a year ago [1] - The company's revenues for the quarter ended March 2024 were $75.6 million, missing the Zacks Consensus Estimate by 2.68% and down from $92.24 million year-over-year [1] - Over the last four quarters, Beyond Meat has not surpassed consensus EPS estimates and has topped revenue estimates only once [1] Stock Performance and Outlook - Beyond Meat shares have declined approximately 7% since the beginning of the year, contrasting with the S&P 500's gain of 8.8% [2] - The company's earnings outlook is crucial for future stock movements, with current consensus EPS estimates of -$0.55 for the next quarter and -$2.29 for the current fiscal year [4] Industry Context - The Food - Meat Products industry, to which Beyond Meat belongs, is currently ranked in the top 1% of over 250 Zacks industries, indicating a favorable outlook for stocks in this sector [5] - Hormel Foods, another company in the same industry, is expected to report quarterly earnings of $0.36 per share, reflecting a year-over-year decline of 10% [5]