Plant-based protein company Beyond Meat (NASDAQGS:NASDAQ:BYND) will be reporting earnings tomorrow after market close. Here's what to expect.
Last quarter Beyond Meat reported revenues of $75.31 million, down 8.7% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.
Is Beyond Meat buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Beyond Meat's revenue to decline 16% year on year to $67.11 million, improvement on the 20.6% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.89 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Beyond Meat's peers in the packaged food segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Kellanova delivered top-line growth of 0.3% year on year, beating analyst estimates by 3.1% and Mondelez (NASDAQ:MDLZ) reported revenues up 8.7% year on year, exceeding estimates by 0.2%. Kellanova traded up 2.1% on the results, and Mondelez was down 3.1%.
Read the full analysis of Kellanova's and Mondelez's results on StockStory.
Investors in the packaged food segment have had steady hands going into the earnings, with the stocks down on average 0.4% over the last month. Beyond Meat is up 12.6% during the same time, and is heading into the earnings with analyst price target of $5.8, compared to share price of $7.98.
