Beyond Meat stock soars after first earnings report

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BYND was up about 300% from its IPO price as of today's close, and now check it out ...

Beyond Meat could extend its rally, with shares of the maker of meat alternatives surging in after-hours trading Thursday after the company delivered an upbeat outlook in its first-ever earnings report.Beyond Meat posted a first-quarter net loss of $6.6 million, compared with $5.7 million a year prior. On a per-share basis, Beyond Meat lost 95 cents, compared with 98 cents in the year-ago quarter.

Beyond Meat reported $40.2 million in net revenue, in line with the company’s expected range of $38 million to $40 million, which Beyond Meat issued at the time of its initial public offering. The revenue figure was also in line with the FactSet consensus, which called for $38.9 million. A year earlier, the company generated $9.6 million in revenue.

The plant-based meat maker saw its revenue breakdown split fairly evenly between the retail and food-service channels. Retail contributed $19.6 million to the top line, while food service accounted for $20.6 million.

 

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