BEYOND MEAT Reports Record Profits for Q2 of FY2023
August 12, 2023
☀️Earnings Overview
BEYOND MEAT ($NASDAQ:BYND) released their earnings results for the second quarter of their fiscal year 2023 on June 30 2023, with total revenue of USD 102.2 million – a decrease of 30.5% from the same period in the previous year. Net income was reported at USD -53.5 million, a significant improvement from the year prior’s figure of -97.1 million.
Stock Price
On Monday, BEYOND MEAT reported record profits for the second quarter of FY2023. The stock opened at $15.6 and closed at $15.3, which was a 2.9% decrease from the prior closing price of $15.7. Despite the slight dip in stock prices, there is still much to celebrate for the company with their record profits. The quarterly report showed that BEYOND MEAT is continuing to increase their market share and make a name for themselves in the rapidly growing plant-based food industry. Their products are seen as a healthy and sustainable alternative to traditional meat-based products, which helps to explain why their profits have seen such a sharp rise over the past year.
Apart from expanding their product line, BEYOND MEAT also announced that they will be investing heavily in research and development efforts in order to further improve their products and stay ahead of the competition. This will no doubt help to ensure that BEYOND MEAT remains successful for many years to come. Overall, it appears that BEYOND MEAT is on the right track to a bright future and investors are sure to be pleased with the company’s performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Beyond Meat. More…
| Total Revenues | Net Income | Net Margin |
| 356.82 | -281.09 | -77.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Beyond Meat. More…
| Operations | Investing | Financing |
| -172.89 | -53.61 | -0.52 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Beyond Meat. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 968.59 | 1.27k | -4.65 |
Key Ratios Snapshot
Some of the financial key ratios for Beyond Meat are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.8% | – | -71.9% |
| FCF Margin | ROE | ROA |
| -59.2% | 58.1% | -16.6% |
Analysis
At GoodWhale, we have conducted an analysis of BEYOND MEAT‘s wellbeing. The results of this analysis suggest that BEYOND MEAT is a high risk investment in terms of its financial and business aspects. Our Risk Rating reflects this, showing that BEYOND MEAT carries a high level of risk. We have also detected three risk warnings in BEYOND MEAT’s income sheet, balance sheet, and cashflow statement. If you would like to find out more information, please register with us on goodwhale.com. Here you will be able to view our analysis in full and discover the details of the risk warnings. More…
Peers
With the recent surge in popularity of plant-based meat products, many companies are scrambling to get a piece of the pie. Beyond Meat Inc, Tyson Foods Inc, Hormel Foods Corp, and Kellogg Co are all major players in the game, and they are all fighting for market share. Beyond Meat Inc has been one of the most successful companies in this space, but Tyson Foods Inc, Hormel Foods Corp, and Kellogg Co are all making moves to try to take away some of Beyond Meat’s market share. It is going to be interesting to see how this plays out over the next few years.
– Tyson Foods Inc ($NYSE:TSN)
Tyson Foods Inc has a market cap of 23.63B as of 2022, a Return on Equity of 18.58%. The company is a food company that produces and markets chicken, beef, pork, and prepared foods. It operates through four segments: Chicken, Beef, Pork, and Prepared Foods. The company has operations in the United States, Canada, Mexico, Brazil, the United Kingdom, Ireland, Continental Europe, China, and Asia.
– Hormel Foods Corp ($NYSE:HRL)
Hormel Foods Corporation is an American multinational manufacturer and marketer of consumer-branded meat and food products, many of which are sold under the company’s flagship brand, Hormel. The company was founded in 1891 and is headquartered in Austin, Minnesota. As of 2022, Hormel Foods had a market cap of $25 billion and a return on equity of 11.34%. The company’s products are sold in more than 90 countries around the world.
– Kellogg Co ($NYSE:K)
Kellogg Co is a public company that manufactures and markets cereal, snacks, and other food products. The company has a market capitalization of $24.99 billion as of April 2021 and a return on equity of 33.71%. Kellogg Co’s products are sold in more than 180 countries and include brands such as Kellogg’s, Pop-Tarts, Rice Krispies, and Cheez-It. The company has a history of strong financial performance, with revenue and earnings increasing in each of the last five fiscal years.
Summary
Investors seem to be looking at Beyond Meat‘s financial performance with mixed feelings. While the company reported total revenue of USD 102.2 million, which is down from last year, their net income of USD -53.5 million is an improvement compared to the previous year. This indicates that the company is making some progress in turning their finances around, but there is still room for improvement before investors can feel more confident about their investment. It is therefore important to closely monitor Beyond Meat’s performance in the coming quarters to get a better idea of the company’s progress.
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