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Beyond Meat stock has been one of the market's worst performers, losing over half its value due to revenue growth troubles. The company's Q2 report showed a smaller than expected revenue decline and improved margins, but also more losses and cash burn. With a debt heavy balance sheet, management has a lot of work to do to keep the company afloat moving forward.
Beyond Meat's second-quarter results were a mixed bag, but with some relative bright spots. As for growth, however, the company is seemingly shrinking its way toward profitability.
Beyond Meat (NASDAQ: BYND ) stock is climbing higher on Thursday after the maker of plant-based meat alternatives released its earnings report for the second quarter of the year. Beyond Meat reported earnings per share of -53 cents during the quarter.
Beyond Meat Inc (NASDAQ:BYND) shares are set to rise on Thursday after sales fell less than feared and losses shrank. Net revenues of $93.2 million were generated by the plant-based meat maker in the second quarter, down 8.8% on year.
Beyond Meat (BYND) came out with a quarterly loss of $0.53 per share versus the Zacks Consensus Estimate of a loss of $0.46. This compares to loss of $0.83 per share a year ago.
Beyond Meat on Wednesday reported better-than-expected sales in the second quarter despite continuing weak demand for its plant-based burgers, chicken and other products.
Beyond Meat raised its forecast for annual revenue on Wednesday, as it benefits from a string of price hikes on its plant-based meat products amid sticky inflation, sending its shares up 16% after the bell.
EL SEGUNDO, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, today reported financial results for its second quarter ended June 29, 2024.
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.
With plant-based food demand on the rise, more restaurants are offering it as an option. All of which are helping to fuel the upside for some of the best plant-based meat stocks.