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Beyond Meat Q4 Loss Wider Than Estimates, Revenues Decline Y/Y
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Key Takeaways
BYND's Q4 revenue fell 19.7% to $61.6M as product volumes dropped 22.4%.
Gross margin plunged to 2.3%, while adjusted EBITDA loss widened to $69M.
Management guides Q1 2026 revenues in the range of $57M-$59M amid continued uncertainty.
Beyond Meat, Inc. (BYND - Free Report) reported fiscal fourth-quarter 2025 results, wherein the top line declined year over year and missed the Zacks Consensus Estimate. The company delivered a loss per share, which was wider than the consensus mark.
BYND’s Quarterly Performance: Key Insights
Beyond Meat reported a loss of 29 cents per share, wider than the Zacks Consensus Estimate of 12 cents per share. However, the metric improved from a loss of 65 cents per share in the previous-year period.
Beyond Meat, Inc. Price, Consensus and EPS Surprise
Net revenues declined 19.7% year over year to $61.6 million, below the Zacks Consensus Estimate of $68 million. The decline in revenues was mainly due to a 22.4% decrease in product volumes sold. The volume decline was driven by weak category demand and lower sales of chicken and burger products to QSR customers across the U.S. and international foodservice channels. This decrease was partially offset by a 3.5% increase in net revenue per pound, supported by favorable changes in product mix, price increases on certain products and positive foreign currency impacts, partially offset by higher trade discounts.
BYND’s Margin & Cost Performance
Gross profit in the fourth quarter fell 85.8% to $1.4 million from $10 million a year earlier, with gross margin significantly declining to 2.3% from 13.1% in the prior-year period.
Selling, general and administrative (SG&A) expenses increased 96.9% year over year to $81 million from $41.1 million in the prior-year period. SG&A expenses, as a percentage of sales, reached 131.5%, increasing significantly from 53.7% in the prior year.
Loss from operations widened to $132.7 million in the fourth quarter from a $37.8 million loss in the prior-year period.
Adjusted EBITDA loss widened to $69 million in the fourth quarter from a loss of $26 million in the year-ago period.
Beyond Meat’s Segmental Performance
U.S. retail channel net revenues declined 6.5% year over year to $31.7 million in the fourth quarter from $33.9 million a year earlier, due to an equivalent dip in sales volume. The volume decline was mainly due to weak category demand and reduced distribution points. Net revenue per pound remained flat, as higher trade discounts and price reductions on certain products offset gains from product mix.
U.S. foodservice channel net revenues fell 23.7% year over year to $8 million from $10.5 million a year earlier, primarily due to a 25.1% decline in sales volume. The decrease was due to the lapping of prior-year chicken product sales to a QSR customer and weak category demand. This was partially offset by a 1.9% increase in net revenue per pound, supported by a favorable product mix despite higher trade discounts.
International retail net revenues fell 32.5% year over year to $8.8 million from $13.1 million a year earlier, mainly due to a 33.5% decline in sales volume, driven by lower burger sales in the EU and select Canadian retail channels. This decline was partially offset by a 1.5% increase in net revenue per pound, supported by price increases, favorable product mix and positive currency impacts, partially offset by higher trade discounts.
International foodservice net revenues declined 31.8% year over year to $13.1 million from $19.3 million a year earlier, primarily due to a 34.1% drop in sales volume driven by reduced sales of chicken and burger products to certain QSR customers. This was partially offset by a 3.4% increase in net revenue per pound, supported by favorable currency movements and product mix, despite higher trade discounts.
BYND’s Financial Health Snapshot
Beyond Meat ended the fourth quarter with $217.5 million in cash and cash equivalents, including restricted cash, while total outstanding debt, net of discounts, was $415.7 million.
Net cash used in operating activities rose to $144.9 million for 2025 from $98.8 million in 2024. Capital expenditures increased slightly to $12.3 million from $11.0 million in the prior year, reflecting continued investment in operations.
What to Expect From BYND in the Future?
The company continues to face elevated uncertainty in its operating environment, which is expected to continue affecting results. As a result of this uncertainty, management limited its guidance to first-quarter 2026 net revenues of about $57 million to $59 million. This cautious guidance reflects BYND’s approach to managing unpredictability in market demand and operational factors while focusing on maintaining stability in its financial performance.
Shares of this Zacks Rank #3 (Hold) company have plunged 14.5% in the year-to-date period against the industry’s growth of 5.4%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks have been discussed below:
The Zacks Consensus Estimate for SFD's current fiscal-year sales and earnings implies growth of 1.1% and 7.5% from the year-ago reported figures. SFD delivered a trailing four-quarter earnings surprise of 15.3%, on average.
Hormel Foods Corporation (HRL - Free Report) develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally. HRL currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for HRL's current fiscal-year sales and earnings implies growth of 1.4% and 4.4%, respectively, from the year-ago actuals. HRL delivered a trailing four-quarter negative earnings surprise of 0.4%, on average.
Kenvue Inc. (KVUE - Free Report) operates as a consumer health company in the United States, the rest of North America, Europe, the Middle East, Africa, the Asia-Pacific and Latin America. KVUE currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for KVUE's current fiscal-year sales and earnings implies growth of 2.9% and 1.9%, respectively, from the year-ago actuals. KVUE delivered a trailing four-quarter negative earnings surprise of 9.8%, on average.
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Beyond Meat Q4 Loss Wider Than Estimates, Revenues Decline Y/Y
Key Takeaways
Beyond Meat, Inc. (BYND - Free Report) reported fiscal fourth-quarter 2025 results, wherein the top line declined year over year and missed the Zacks Consensus Estimate. The company delivered a loss per share, which was wider than the consensus mark.
BYND’s Quarterly Performance: Key Insights
Beyond Meat reported a loss of 29 cents per share, wider than the Zacks Consensus Estimate of 12 cents per share. However, the metric improved from a loss of 65 cents per share in the previous-year period.
Beyond Meat, Inc. Price, Consensus and EPS Surprise
Beyond Meat, Inc. price-consensus-eps-surprise-chart | Beyond Meat, Inc. Quote
Net revenues declined 19.7% year over year to $61.6 million, below the Zacks Consensus Estimate of $68 million. The decline in revenues was mainly due to a 22.4% decrease in product volumes sold. The volume decline was driven by weak category demand and lower sales of chicken and burger products to QSR customers across the U.S. and international foodservice channels. This decrease was partially offset by a 3.5% increase in net revenue per pound, supported by favorable changes in product mix, price increases on certain products and positive foreign currency impacts, partially offset by higher trade discounts.
BYND’s Margin & Cost Performance
Gross profit in the fourth quarter fell 85.8% to $1.4 million from $10 million a year earlier, with gross margin significantly declining to 2.3% from 13.1% in the prior-year period.
Selling, general and administrative (SG&A) expenses increased 96.9% year over year to $81 million from $41.1 million in the prior-year period. SG&A expenses, as a percentage of sales, reached 131.5%, increasing significantly from 53.7% in the prior year.
Loss from operations widened to $132.7 million in the fourth quarter from a $37.8 million loss in the prior-year period.
Adjusted EBITDA loss widened to $69 million in the fourth quarter from a loss of $26 million in the year-ago period.
Beyond Meat’s Segmental Performance
U.S. retail channel net revenues declined 6.5% year over year to $31.7 million in the fourth quarter from $33.9 million a year earlier, due to an equivalent dip in sales volume. The volume decline was mainly due to weak category demand and reduced distribution points. Net revenue per pound remained flat, as higher trade discounts and price reductions on certain products offset gains from product mix.
U.S. foodservice channel net revenues fell 23.7% year over year to $8 million from $10.5 million a year earlier, primarily due to a 25.1% decline in sales volume. The decrease was due to the lapping of prior-year chicken product sales to a QSR customer and weak category demand. This was partially offset by a 1.9% increase in net revenue per pound, supported by a favorable product mix despite higher trade discounts.
International retail net revenues fell 32.5% year over year to $8.8 million from $13.1 million a year earlier, mainly due to a 33.5% decline in sales volume, driven by lower burger sales in the EU and select Canadian retail channels. This decline was partially offset by a 1.5% increase in net revenue per pound, supported by price increases, favorable product mix and positive currency impacts, partially offset by higher trade discounts.
International foodservice net revenues declined 31.8% year over year to $13.1 million from $19.3 million a year earlier, primarily due to a 34.1% drop in sales volume driven by reduced sales of chicken and burger products to certain QSR customers. This was partially offset by a 3.4% increase in net revenue per pound, supported by favorable currency movements and product mix, despite higher trade discounts.
BYND’s Financial Health Snapshot
Beyond Meat ended the fourth quarter with $217.5 million in cash and cash equivalents, including restricted cash, while total outstanding debt, net of discounts, was $415.7 million.
Net cash used in operating activities rose to $144.9 million for 2025 from $98.8 million in 2024. Capital expenditures increased slightly to $12.3 million from $11.0 million in the prior year, reflecting continued investment in operations.
What to Expect From BYND in the Future?
The company continues to face elevated uncertainty in its operating environment, which is expected to continue affecting results. As a result of this uncertainty, management limited its guidance to first-quarter 2026 net revenues of about $57 million to $59 million. This cautious guidance reflects BYND’s approach to managing unpredictability in market demand and operational factors while focusing on maintaining stability in its financial performance.
Shares of this Zacks Rank #3 (Hold) company have plunged 14.5% in the year-to-date period against the industry’s growth of 5.4%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks have been discussed below:
Smithfield Foods, Inc. (SFD - Free Report) produces various packaged meats and fresh pork products in the United States and internationally. SFD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SFD's current fiscal-year sales and earnings implies growth of 1.1% and 7.5% from the year-ago reported figures. SFD delivered a trailing four-quarter earnings surprise of 15.3%, on average.
Hormel Foods Corporation (HRL - Free Report) develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally. HRL currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for HRL's current fiscal-year sales and earnings implies growth of 1.4% and 4.4%, respectively, from the year-ago actuals. HRL delivered a trailing four-quarter negative earnings surprise of 0.4%, on average.
Kenvue Inc. (KVUE - Free Report) operates as a consumer health company in the United States, the rest of North America, Europe, the Middle East, Africa, the Asia-Pacific and Latin America. KVUE currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for KVUE's current fiscal-year sales and earnings implies growth of 2.9% and 1.9%, respectively, from the year-ago actuals. KVUE delivered a trailing four-quarter negative earnings surprise of 9.8%, on average.