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Beyond Meat Stock Rose on Its Impressive Q1 Performance

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First-quarter performance

Beyond Meat (BYND) reported its first-quarter earnings results after the market closed on June 6. For the quarter, the company reported revenue of $40.2 million, while its adjusted EPS came in at -$0.14.

Year-over-year, the company’s revenue rose ~215%, while its net EPS fell from -$0.13 in the first quarter of 2018.

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Stock performance

Beyond Meat has outperformed analysts’ revenue estimate of $38.9 million and their adjusted EPS estimate of -$0.15. After reporting its first-quarter performance, the company’s management also provided revenue guidance of $210 million for 2019, higher than analysts’ estimate of $205 million. The company’s management expects its adjusted EBITDA to break even this year.

Beyond Meat’s impressive first-quarter performance and higher-than-expected guidance drove its stock price up on June 7. On the day, BYND rose to a high of $149.46 before closing the day at $138.65, a rise of 39.4% from its previous day’s closing price.

Strong growth since listing

Beyond Meat priced its IPO at $25. On May 2, the company opened trading at $46. Since then, the company’s stock has risen 301.4% as of June 7, easily outperforming the S&P 500 Index and its peers. During the same period, the S&P 500 Index has fallen 1.7%, while its peers Tyson Foods (TSN), Conagra Brands (CAG), and General Mills (GIS) have returned 10.1%, -1.1%, and 1.5%, respectively.

Series overview

In this series, we’ll be looking at Beyond Meat’s first-quarter performance and comparing it with analysts’ expectations. We’ll also be covering analysts’ estimates and management’s guidance for 2019. In the end, we’ll look at Beyond Meat’s valuation multiple and analysts’ recommendations for the stock.

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