3 Key Things From Beyond Meat's Earnings Call That Investors Should Know
Beyond Meat (NASDAQ: BYND) reported weak third-quarter 2020 results last week. The leading maker of plant-based meat substitutes grew revenue 2.7% year over year to $94.4 million, and turned in an adjusted loss per share of $0.28, versus adjusted earnings per share (EPS) of $0.06 in the year-ago period. Both results fell far short of Wall Street's consensus estimates: revenue of $131.4 million and adjusted EPS of $0.05.
Shares plunged nearly 17% the day after the release. Despite pulling back about 29% since hitting its 2020 high in mid-October, Beyond Meat stock is still up 82% this year through Thursday, Nov. 19. The S&P 500 has returned nearly 13% over this period. Moreover, shares are up a beefy 451% since the company's initial public offering (IPO) in May 2019.
Earnings releases tell only part of the story. Here are three key things management shared on the earnings call that you should know.
Source Fool.com
