Beyond Meat Inc (NASDAQ:BYND) shares are trading marginally lower Friday as traders keep reacting to the company’s latest earnings miss and cautious near-term outlook, with risk appetite still selective in a mixed tape. The stock is also feeling the weight of ongoing category demand and pricing pressure that management has flagged.
- Beyond Meat stock is showing downward bias. What’s next for BYND stock?
Earnings Miss And Weak Guidance Keep Pressure On BYND
Beyond Meat’s pullback comes after revenue fell 19.7% year-over-year in the latest quarter, keeping the focus on whether BYND can stabilize volumes before the next reset in expectations.
Beyond Meat posted a fourth-quarter adjusted loss of 29 cents per share versus a 13 cent-loss estimate, while revenue came in at $61.58 million versus $62.56 million expected.
Management guided first-quarter revenue to $57 million to $59 million, below the $66.74 million consensus view, extending concerns after a fifth straight EPS miss and a reported 19.7% revenue decline from the same quarter last year.
Balance Sheet And Category Headwinds Add To Risk
The company ended the quarter with $217.5 million in cash, cash equivalents and restricted cash, against $415.7 million in total outstanding debt.
CEO Ethan Brown said results reflected headwinds in the plant-based meat category plus restructuring charges intended to support a path to sustainable operations.
Analyst Consensus On BYND Remains Bearish
Analyst Consensus & Recent Actions: The stock carries a Sell rating. Recent analyst moves include:
- BMO Capital: Market Perform (Lowers Target to $1.00) (April 6)
- Barclays: Underweight (Lowers Target to 50 cents) (April 2)
BYND Shares Edge Lower Friday
BYND Stock Price Activity: Beyond Meat shares were down 1.67% at 59 cents at the time of publication on Friday, according to Benzinga Pro data.
Image: Courtesy of Beyond Meat
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