Beyond Meat Inc (NASDAQ: BYND) shares are trading lower Monday ahead of the company’s quarterly results.
Beyond Meat is expected to report a second-quarter loss of 81 cents per share on revenue of $111.28 million, according to estimates from Zenger News Pro.
Beyond Meat has started to turn things around in recent quarters relative to analyst expectations. The company beat estimates on both the top and bottom line in its previous two quarters but missed estimates in five straight prior quarters.
The company embarked on a strategy late last year to drive cash-flow positive operations and sustainable long-term growth.
Beyond Meat shares are up approximately 12% since the company reported its first-quarter results. CEO Ethan Brown noted the company had been making strong progress on its new strategy.
“Cash use and net loss are substantially improved on a sequential and year-over-year basis: gross margin is up on a sequential and year-over-year basis; and we delivered net revenues consistent with guidance,” Brown said at the end of the first quarter.
Beyond Meat also provided full-year guidance, noting that it expects revenues to be in the range of $375 million to $415 million. The company said it continues to target reaching cash flow-positive operations some time in the second half of the year. Investors will want to watch for a progress update when the company reports after the market close.
Beyond Meat also rolled out new products and expanded distribution channels during the quarter including a new iteration of Beyond Sausage, the Beyond Stack burger and increased availability of Beyond Steak. Updates on product reach should be on the menu after the bell.
Produced in association with Benzinga
