Shares of Beyond Meat Inc. (NASDAQ: BYND) had been down 6% on Tuesday. The inventory has gained 35% year-to-date. The plant-based meals merchandise firm is about to report its fourth quarter 2022 earnings outcomes on Thursday, February 23, after market shut. Here’s a have a look at what to anticipate from the report:
Revenue
Analysts are projecting income of $75.8 million for Beyond Meat in This autumn 2022. This compares to income of $100.7 million reported within the fourth quarter of 2021. In the third quarter of 2022, income decreased 22.5% year-over-year to $82.5 million.
Earnings
Analysts are predicting a lack of $1.18 per share for the fourth quarter of 2022. This is narrower than the lack of $1.27 per share reported in the identical interval a 12 months in the past and $1.60 per share reported within the third quarter of 2022.
Points to notice
Beyond Meat has been working in a difficult surroundings that has taken a toll on its prime line. Sales have been declining over the previous two quarters as inflation and category-related headwinds have impacted demand.
Amid rising prices, customers favor to buy lower-cost proteins than to pay extra for plant-based merchandise. They are additionally centered extra on maintaining grocery purchases at reasonably priced ranges relatively than following well being or environmental fads. Household penetration for the plant-based meat class fell for a second consecutive quarter in Q3, dropping by round 20 foundation factors sequentially.
Beyond Meat has additionally been coping with rising competitors within the plant-based meals merchandise class. However, the tough demand surroundings has led many manufacturers to exit the class and the corporate anticipates the enjoying subject is more likely to skinny out within the mid-term.
The firm’s profitability continues to be impacted by larger manufacturing prices in addition to elevated supplies and logistics prices. It is engaged on decreasing its working bills and rationalizing its manufacturing community to cope with an anticipated slowdown in development.
Click right here to learn the complete transcript of Beyond Meat’s Q3 2022 earnings convention name
