Beyond Meat (BYND 0.94%) stock skyrocketed 73.5% in Tuesday's after-hours trading, following the plant-based meat substitute maker's release of its fourth-quarter 2023 report. This sharp rise is largely attributable to the quarter's revenue exceeding Wall Street's consensus estimate, and the company's plans to "steeply reduce" costs in 2024, in the words of CEO Ethan Brown.These factors would not usually propel a stock up a whopping 74%, but price movements tend to be magnified for stocks with very high sho ...

At first glance, the fourth quarter earnings report published late on February 27 by the plant-based foods company Beyond Meat (NASDAQ: BYND) is nothing to write home about. BYND not only continued its long-standing trend of diminishing in terms of sales volume – in stores despite the promotion discounts and in restaurants as promotions ended – and revenue but also unveiled losses per share far more significant than the analysts were forecasting.The $155 million in net losses ultimately amounted to a per-sh ...

Studio4/E+ via Getty ImagesLast March, I placed a "Sell" rating on Beyond Meat (NASDAQ:BYND), noting that management greatly misread demand for its product, while more recently I wrote in November that it must dramatically cut costs and right size its manufacturing capacity. Prior to earnings the stock was down more than -50% since my original write-up, but the stock was surging after reporting if Q4 results. Let’s catch up on the name. Company Profile As a refresher, BYND produces plant-based food item ...

Beyond Meat, Inc. (NASDAQ:BYND) Q4 2023 Earnings Conference Call February 27, 2024 5:00 PM ET Company Participants Paul Shepherd - Vice President, FP&A & Investor Relations Ethan Brown - Founder, President & Chief Executive Officer Lubi Kutua - Chief Financial Officer & Treasurer Conference Call Participants Daniel Gold - BMO Adam Samuelson - Goldman Sachs John Baumgartner - Mizuho Robert Moskow - TD Cowen Alexia Howard - Bernstein Peter Saleh - BTIG Ben Theurer - Barclays Operator Good afternoon, and welco ...

Tuesday, February 27th, 2024All four major market indices were up as of Tuesday’s close, with only the Dow slipping by -0.25% on the session. The Nasdaq gained a measured +59 points, +0.37%, as it inches toward a new all-time high (16,057 as of November 2021; it closed at 16,035), while the S&P 500 split the difference, +0.17%, still 10 points off its own recently-reached all-time high. The Russell 2000, still marching to its own beat, broke off from the pack from the start of trading and closed +1.39% for ...

THERMAL, CALIFORNIA - APRIL 15: A view of the Beyond Meat Booth during REVOLVE Festival 2023, ... [+] Thermal, CA - Day 1 on April 15, 2023 in Thermal, California. (Photo by Vivien Killilea/Getty Images for REVOLVE)Getty Images for REVOLVEBeyond Meat stock (NASDAQ NDAQ : BYND), a plant-based meat alternative company, is scheduled to report its fiscal fourth-quarter results on Tuesday, February 27. We expect BYND’s stock to likely to see little to no movement due to revenues beating but earnings missing expe ...

Beyond Meat, Inc. (BYND) is likely to register a year-over-year top-line decrease when it reports fourth-quarter 2023 earnings on Feb 27. The Zacks Consensus Estimate for quarterly revenues is pegged at $68.4 million, suggesting a decline of 14.5% from the prior-year quarter’s reported figure.The Zacks Consensus Estimate for the fourth-quarter bottom line has been unchanged in the past 30 days at a loss of 82 cents per share. This indicates a 21.9% improvement from a loss of $1.05 per share reported in the ...

Exhibit 99.1 For immediate release ® Beyond Meat Reports Fourth Quarter and Full Year 2023 Financial Results EL SEGUNDO, Calif. — February 27, 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 fourth quarter and full year ended December 31, 2023. 1 Fourth Quarter 2023 Financial Highlights • Net revenues were $73.7 million, a decrease of 7.8% year-over-year. • Gross profit was a loss of $83.9 million ...

Even with the seemingly rising potential for a soft landing, the risk of consumers being pressured by higher prices makes 2024 a time to focus on the thoroughbred stocks with clear trajectories.Beyond Meat (BYND 3.41%) has continually struggled with profitability, and more recently has seen declining overall sales led by the United States market. Altria (MO 1.06%) is the classic example of a company trapped between a rock and hard place. Tobacco isn't as popular as it used to be, and the company's constant ...

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 ...