Beyond Meat (BYND) Stock: Earnings Report Looms After 77% Annual Decline

TLDR

• Beyond Meat reports Q3 earnings November 11 with analysts projecting $68.77 million in revenue, down 15.1% year over year
• The stock fell 77% over the past year as the company faces “ongoing softness in the plant-based meat category”
• U.S. retail sales dropped 26.7% in Q2, while the company postponed earnings due to an impairment charge
• Beyond Meat holds $103 million in cash against a $677 million stockholders’ deficit
• Analysts expect an adjusted loss of $0.43 per share for the quarter

Beyond Meat announces third-quarter earnings on November 11 after the closing bell. The plant-based protein maker faces mounting pressure following a year of steep losses and declining sales.

Beyond Meat, Inc., BYND

Analysts forecast Q3 revenue of $68.77 million. That marks a 15.1% drop from last year’s third quarter. The company previously delayed this earnings report due to an impairment charge.

The postponement adds to concerns about Beyond Meat’s financial health. CEO Ethan Brown acknowledged “ongoing softness in the plant-based meat category” in the company’s last quarterly update.

Revenue Falls Across All Segments

Last quarter painted a troubling picture. Beyond Meat reported $74.96 million in revenue, missing analyst estimates by 8.6%. That represented a 19.6% year-over-year decline.

U.S. retail sales bore the brunt of the downturn. Sales in this segment crashed 26.7% compared to the prior year. Domestic food service showed some resilience with 6.8% growth, but it wasn’t enough.

Total U.S. revenues fell 20.4% to $43.96 million. International markets fared similarly, with retail down 9.8% and food service dropping 25.8%.

For the first half of 2025, revenues declined 14.9% to $143.69 million. The company has now missed Wall Street revenue expectations three times in the past two years.

Net losses totaled $82.16 million for the six-month period. While that’s an improvement from last year’s $88.84 million loss, the company remains deeply unprofitable.

Balance Sheet Raises Red Flags

Beyond Meat’s financial position looks precarious. The company held $103 million in cash as of June. Its stockholders’ deficit reached $677 million.

The current market cap stands at $552 million. That valuation seems optimistic given the negative equity position and ongoing losses.

The stock dropped 77% over the past 12 months. However, shares rallied 25.6% in the last month heading into earnings. This contrasts with the broader perishable food sector, which declined 3.6% during the same period.

Analysts maintain a price target of $2.23 per share. The stock currently trades at $1.30. Wall Street hasn’t changed its estimates much over the past 30 days.

Peer Performance Shows Mixed Results

Other perishable food companies have delivered better results. Vital Farms posted 37.2% revenue growth and beat expectations by 3.7%. Pilgrim’s Pride grew revenue 3.8% and topped estimates by 0.8%.

Beyond Meat has not issued full-year guidance for 2025. The company projected Q3 revenue between $68 million and $73 million. That would represent another decline from Q3 2024’s $81 million.

Analysts expect an adjusted loss of $0.43 per share for the quarter. The earnings call will provide insight into whether consumer demand for plant-based meat continues to weaken.

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