Beyond Meat $BYND released their first earnings report yesterday, today pre market they are trading at $125 (+25.63%).
” Wall Street expected the company — which makes plant-based burgers and sausages that try to match the taste and texture of the real thing — to report a loss of 14 cents per share on revenue of $39 million, according to Zacks Investment Research.
Net loss of 14 cents a share, wider vs. a year-ago loss of 13 cents a share, as revenue shot up 215% to $40.2 million, led by Beyond Burger sales while frozen chicken strips were discontinued.
Retail revenue surged 111% to $19.6 million, while restaurant and foodservice revenue soared 491% to $20.6 million. Overall gross margin widen to 26.8% from 16.1% due to an increase in the amount of product sold, improved production efficiencies, and a greater share of revenues from fresh products.
Management sees full-year total revenue of $210 million, above consensus for $205 million.”
Sounds like you can’t make good chickens from plants, yet.