Beyond Meats aimlessness catches up – Reuters

A McDonald’s “PLT” burger with a Beyond Meat plant-based patty at one of 28 test restaurant locations in London, Ontario, Canada October 2, 2019. REUTERS/Moe Doiron

NEW YORK, Nov 10 (Reuters Breakingviews) – Beyond Meat (BYND.O) could use a better plan. The plant-based meat maker’s U.S. revenue fell 14% in the third quarter, the first year-over-year drop since it started breaking out sales by region last year. Overall, revenue was $106 million, up almost 13% from the same quarter a year ago, but below analyst estimates, according to Refinitiv data. Shares fell 19% in after-market trading read more .

The $6 billion company run by Ethan Brown isn’t giving investors much hope. Beyond Meat estimates revenue in the fourth quarter will be below Wall Street’s consensus expectations because Covid-19 cases could still impact demand, labor and supply chains.

Beyond Meat’s partnerships with larger companies like McDonald’s (MCD.N) could help read more , but the rollout of the McPlant is limited, in less than 10 U.S. locations, and an analyst from JPMorgan notes that some fast food locations have stopped carrying it. Beyond Meat’s enterprise value of more than 13 times next year’s estimated revenue is higher than companies from Nestlé (NESN.S) to Oatly (OTLY.O). That combination is a recipe for more disappointment. (By Amanda Gomez)

On Twitter

Capital Calls – More concise insights on global finance:

Disney could use some Baby Yoda mojo read more

Twitter arrives late at the subscription party read more

Google’s worst case is U.S. courts copying Europe read more

Swedish grocer prefers closed-door makeover read more

Oil driller merger is only partly defensive read more

Editing by Lauren Silva Laughlin and Katrina Hamlin

Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.

Leave a comment

Your email address will not be published. Required fields are marked *