Latest Blockchain news from around the world

What to anticipate when Past Meat (BYND) studies This fall earnings this week


Shares of Past Meat Inc. (NASDAQ: BYND) had been down 6% on Tuesday. The inventory has gained 35% year-to-date. The plant-based meals merchandise firm is about to report its fourth quarter 2022 earnings outcomes on Thursday, February 23, after market shut. Right here’s a have a look at what to anticipate from the report:


Analysts are projecting income of $75.8 million for Past Meat in This fall 2022. This compares to income of $100.7 million reported within the fourth quarter of 2021. Within the third quarter of 2022, income decreased 22.5% year-over-year to $82.5 million.


Analysts are predicting a lack of $1.18 per share for the fourth quarter of 2022. That is narrower than the lack of $1.27 per share reported in the identical interval a yr in the past and $1.60 per share reported within the third quarter of 2022.

Factors to notice

Past Meat has been working in a difficult setting that has taken a toll on its prime line. Gross sales have been declining over the previous two quarters as inflation and category-related headwinds have impacted demand.

Amid rising prices, customers want to buy lower-cost proteins than to pay extra for plant-based merchandise. They’re additionally centered extra on retaining grocery purchases at inexpensive ranges somewhat than following well being or environmental fads. Family penetration for the plant-based meat class fell for a second consecutive quarter in Q3, dropping by round 20 foundation factors sequentially.

Past Meat has additionally been coping with rising competitors within the plant-based meals merchandise class. Nevertheless, the troublesome demand setting has led many manufacturers to exit the class and the corporate anticipates the taking part in area is prone to skinny out within the mid-term.

The corporate’s profitability continues to be impacted by increased manufacturing prices in addition to elevated supplies and logistics prices. It’s engaged on decreasing its working bills and rationalizing its manufacturing community to cope with an anticipated slowdown in progress.

Click on right here to learn the total transcript of Past Meat’s Q3 2022 earnings convention name

Leave A Reply

Your email address will not be published.