Beyond Meat increases by 5% after working hours in the first quarter

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Beyond meat (NASDAQ: BYND) the stock was sizzling after the company announced its Q1 of fiscal 2020 after the market closed on Tuesday.

Alt protein producer for the quarter posted net sales of $ 97.1 million, up 141% from the same period in 2019. The company was profitable at the end of account – which is rare – at $ 1.8 million ($ 0.03 per share). ) against the net loss of $ 6.6 million for the quarter last year.

Sliders made with Beyond Beef accompanied by fries.

Image source: Beyond Meat.

On average, analysts predicted that Beyond Meat’s revenue would be $ 86.4 million, and that it would post a net loss per share of $ 0.06.

The company has successfully grown at home and abroad, more than doubling its revenues in the United States and in international markets as a whole. One particularly hot area for him was international retail, where its take increased 50-fold to nearly $ 6 million for the quarter.

“The growth in sales volume was mainly driven by the expansion of the number of distribution points at home and abroad, the higher sales speeds among existing retail customers and the contribution of new products introduced after the first quarter of 2019, “said the company in its results. Release.

His outlook for the rest of the year is somewhat cloudy, as he chose to withdraw his existing forecast for 2020. This is, of course, due to economic uncertainties following the SARS-CoV coronavirus -2.

Inspired by these results, and perhaps wary that a shortage of meat to Wendy’s reported Tuesday announces greater unavailability for traditional animal protein, investors made an offer on Beyond Meat after Tuesday hours. Stocks gained 4.8% in the evening, ahead of many consumer goods and major equity indices during normal trading hours.



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