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Beyond Meat (BYND) to Post Q2 Earnings: What Awaits the Stock?
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Beyond Meat, Inc. (BYND - Free Report) is likely to register top-line growth when it reports second-quarter 2021 results on Aug 5, after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $140.2 million, which suggests growth of 23.7% from the figure reported in the prior-year quarter.
The company is expected to report a loss for the quarter in review. The Zacks Consensus Estimate is pegged at a loss of 27 cents per share. The consensus mark has deteriorated by two cents in the past 30 days. In the year-ago quarter, the company incurred a loss of 2 cents. This manufacturer, seller and marketer of plant-based meat products has underperformed the Zacks Consensus Estimate by a wide margin in the trailing four quarters, on average.
Key Aspects to Note
During the second quarter, Beyond Meat’s top line is likely to have gained from growth in retail channel sales. Advancement in the retail channel is likely to have been backed by continued rise in household penetration of the Beyond Meat brand as well as strong purchase frequency, buyer rates and repeat rates. Solid product offerings and focus on expanding the distribution channel by teaming up with renowned retail giants have been working well for Beyond Meat, given consumers’ growing preference for plant-based meat products
In its last earnings call, management highlighted that the company is likely to witness recovery in its foodservice business during the second quarter, as consumers’ outdoor movement intensifies amid mass vaccinations and reopening of the economy. For the second quarter, management expects net revenues in the range of $135-$150 million, suggesting year-over-year increase of 19-32%.
Headwinds stemming from higher costs are likely to have affected the company’s bottom-line performance in the to-be-reported quarter. It is likely to have witnessed higher transportation and warehouse expenses stemming from increased lane rates and inventory levels. Higher costs stemming from marketing and promotional activities as well as expenses associated with operating amid the COVID-19 pandemic are also a concern.
Steven Madden, Ltd. Price, Consensus and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Beyond Meat this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Beyond Meat has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of -18.87%.
Stocks With Favorable Combination
Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
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Beyond Meat (BYND) to Post Q2 Earnings: What Awaits the Stock?
Beyond Meat, Inc. (BYND - Free Report) is likely to register top-line growth when it reports second-quarter 2021 results on Aug 5, after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $140.2 million, which suggests growth of 23.7% from the figure reported in the prior-year quarter.
The company is expected to report a loss for the quarter in review. The Zacks Consensus Estimate is pegged at a loss of 27 cents per share. The consensus mark has deteriorated by two cents in the past 30 days. In the year-ago quarter, the company incurred a loss of 2 cents. This manufacturer, seller and marketer of plant-based meat products has underperformed the Zacks Consensus Estimate by a wide margin in the trailing four quarters, on average.
Key Aspects to Note
During the second quarter, Beyond Meat’s top line is likely to have gained from growth in retail channel sales. Advancement in the retail channel is likely to have been backed by continued rise in household penetration of the Beyond Meat brand as well as strong purchase frequency, buyer rates and repeat rates. Solid product offerings and focus on expanding the distribution channel by teaming up with renowned retail giants have been working well for Beyond Meat, given consumers’ growing preference for plant-based meat products
In its last earnings call, management highlighted that the company is likely to witness recovery in its foodservice business during the second quarter, as consumers’ outdoor movement intensifies amid mass vaccinations and reopening of the economy. For the second quarter, management expects net revenues in the range of $135-$150 million, suggesting year-over-year increase of 19-32%.
Headwinds stemming from higher costs are likely to have affected the company’s bottom-line performance in the to-be-reported quarter. It is likely to have witnessed higher transportation and warehouse expenses stemming from increased lane rates and inventory levels. Higher costs stemming from marketing and promotional activities as well as expenses associated with operating amid the COVID-19 pandemic are also a concern.
Steven Madden, Ltd. Price, Consensus and EPS Surprise
Steven Madden, Ltd. price-consensus-eps-surprise-chart | Steven Madden, Ltd. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Beyond Meat this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Beyond Meat has a Zacks Rank #5 (Strong Sell) and an Earnings ESP of -18.87%.
Stocks With Favorable Combination
Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Darling Ingredients Inc. (DAR - Free Report) currently has an Earnings ESP of +10.09% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chewy Inc. (CHWY - Free Report) currently has an Earnings ESP of +20% and a Zacks Rank #2.
Sprouts Farmers Market, Inc. (SFM - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #3, at present.