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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Beyond Meat, Inc.    BYND


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Beyond Meat : sees sales more than doubling in 2019, shares jump 21%

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06/06/2019 | 07:44pm EDT
Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California

(Reuters) - Beyond Meat Inc, a maker of plant-based burgers and sausages, said it expects to more than double its revenue and report breakeven EBITDA this year, sending the its shares up over 21 percent.

The company said it expects to record revenue of $210 million in 2019, with break-even earnings, before interest, tax, depreciation and amortization (EBITDA).

Analysts on average forecast full-year sales of $205 million, and a loss, before interest, tax, depreciation and amortization, of $10.28 million, according to Refinitiv IBES data.

The company has captured a wide audience for its imitation meat patties and sausages made from ingredients like pea protein, coconut and canola oil.

The burgers, a hit with consumers switching to a "flexitarian" diet, feel, smell and taste like real meat.

Beyond Meat's sales have increased five-fold since it began selling its flagship Beyond Burger in 2016.

For an interactive graphic, click herehttps://tmsnrt.rs/2WWPsra

"We are very conservative and view this as a floor," Chief Executive Officer Ethan Brown said on a conference call when asked about the revenue forecast. The company does not count customers who are using its products as a part of a testing project.

"As we are entering into additional test and distribution channels and take on new customers, those will be additive to our numbers," Brown said.

The company is also working on making its plant-based products cheaper than animal protein to capture more market share.

Beyond Meat, whose rivals include U.S.-based Impossible Foods, is likely to face increasing competition in the niche market as companies like Nestlé and Tyson Foods ready their own line of products.

"Beyond Meat, right now, does have the first mover advantage," said Megan Brantley, vice president of research at LikeFolio.

The California-based company said net loss widened to $6.6 million in the three months ended March 30, from $5.7 million a year earlier.

First-quarter net revenue came in at $40.2 million, an increase of 215%, the company said. Analysts had expected revenue of $38.9 million.

"Beyond Meat is in a business that could be absolutely incredible," John Gillin, an analyst with Stansberry Research, said.

(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel and Cynthia Osterman)

By Nivedita Balu and Tina Bellon

Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -0.81% 131.51 Delayed Quote.73.96%
DEERE & COMPANY 1.24% 183.5 Delayed Quote.5.91%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.03% 143.425 End-of-day quote.-1.79%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.10% 102.725 End-of-day quote.-17.56%
LONDON BRENT OIL 0.07% 44.76 Delayed Quote.-31.67%
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Financials (USD)
Sales 2020 474 M - -
Net income 2020 7,44 M - -
Net cash 2020 212 M - -
P/E ratio 2020 1 114x
Yield 2020 -
Capitalization 8 210 M 8 210 M -
EV / Sales 2020 16,9x
EV / Sales 2021 11,0x
Nbr of Employees 472
Free-Float 87,0%
Duration : Period :
Beyond Meat, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BEYOND MEAT, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 21
Average target price 111,00 $
Last Close Price 131,51 $
Spread / Highest target 36,9%
Spread / Average Target -15,6%
Spread / Lowest Target -66,5%
EPS Revisions
Ethan Walden Brown President, Chief Executive Officer & Director
Seth Goldman Chairman
Sanjay C. Shah Chief Operating Officer
Mark Joseph Nelson Chief Financial Officer & Treasurer
Raymond J. Lane Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BEYOND MEAT, INC.73.96%8 210
NESTLÉ S.A.2.77%328 557
DANONE-26.14%41 776
GENERAL MILLS, INC.20.15%39 245