TLDR
- Beyond Meat releases Q3 earnings November 11 with Wall Street expecting $68.77 million in revenue, representing a 15.1% year-over-year decline
- The plant-based meat company’s stock plunged 77% over 12 months as CEO acknowledges “ongoing softness” in the category
- Second quarter saw U.S. retail sales collapse 26.7% while international food service dropped 25.8%
- Company postponed earnings release due to an impairment charge and maintains no full-year guidance
- Balance sheet shows $103 million cash versus $677 million stockholders’ deficit
Beyond Meat releases third-quarter financial results November 11 following a delayed earnings announcement. The plant-based protein manufacturer confronts investor skepticism after a brutal year of declining sales and stock losses.
Wall Street projects Q3 revenue at $68.77 million for Beyond Meat. This forecast represents a 15.1% decrease versus the same quarter last year. The earnings date was pushed back due to an impairment charge the company needed to process.
The delay compounds existing worries about Beyond Meat’s business trajectory. CEO Ethan Brown admitted the company faces “ongoing softness in the plant-based meat category” during the last earnings call.
Beyond Meat stock dropped 77% during the past 12 months. However, shares climbed 25.6% over the last month as investors position ahead of the earnings announcement. The current price sits at $1.30 per share against an analyst target of $2.23.
Sales Weakness Spreads Across Business
Beyond Meat’s second quarter results revealed widespread problems. The company posted $74.96 million in revenue, falling short of analyst projections by 8.6%. Revenue decreased 19.6% compared to the prior year period.
U.S. retail represented the weakest segment. Sales in this channel plummeted 26.7% year over year. Domestic food service provided limited relief with 6.8% growth that couldn’t offset the retail decline.
Combined U.S. revenues dropped 20.4% to $43.96 million. International operations struggled similarly with retail sales down 9.8% and food service falling 25.8%.
The company’s first half of 2025 showed total revenues declining 14.9% to $143.69 million. Beyond Meat has missed analyst revenue estimates in three of the past eight quarters.
Net losses improved slightly to $82.16 million for the six-month period. Last year’s comparable loss totaled $88.84 million. The company continues operating in the red with no clear timeline to profitability.
Financial Position Deteriorates
Beyond Meat reported $103 million in cash reserves as of June. The balance sheet also carries a stockholders’ deficit of $677 million. This negative equity position raises questions about long-term viability.
The market capitalization currently stands at $552 million. This valuation appears disconnected from the underlying financial fundamentals given the persistent losses and shrinking cash position.
Beyond Meat provided no full-year guidance for 2025. Management offered only Q3 revenue estimates ranging from $68 million to $73 million. This would extend the decline from Q3 2024’s $81 million in revenue.
Analysts anticipate an adjusted loss of $0.43 per share for the quarter. Investor focus will center on whether demand for meat alternatives shows any signs of stabilization or recovery.
Category Competition Heats Up
Competitors in the perishable food space reported stronger performances. Vital Farms achieved 37.2% revenue growth and exceeded estimates by 3.7%. Pilgrim’s Pride delivered 3.8% revenue growth while beating forecasts by 0.8%.
The broader perishable food sector declined 3.6% over the past month. Beyond Meat’s recent rally bucks this trend but comes after the steep annual decline.
Wall Street analysts have largely maintained their estimates heading into the report. This suggests expectations remain anchored around continued weakness in plant-based meat demand.
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