Beyond Meat Inc. packs of beef crumbs will be exhibited on Tuesday, April 23, 2019, in Tiskilwa, Illinois, USA for a photo.
Daniel Acker | Bloomberg | Getty Images
Beyond Meat will post a profit on Monday after the bell
The company's shares traded up to 7% in afternoon trading before the report was released. Since the IPO in May, the stock has risen 775% and has aroused the interest of short sellers. The stock has risen too high for a Wall Street analyst to recommend buying the stock.
According to a survey by Refinitiv, Wall Street expects the following:
- Earnings per share: loss of 8 cents per share [1
Beyond expects sales of $ 210 million for fiscal year 2019, a value that does not include the sales of restaurants that only tested the product. However, this would mean that net sales would more than double last year's sales.
About half of Beyond Meat's sales were from restaurants in the last quarter. Since then Tim Hortons has brought the sausage and burger imprints from Beyond Meat to the Canadian stores. Beyond also announced deals with Blue Apron and Dunkin & # 39; this month.
Rival Impossible Foods has also partnered with major national restaurant chains such as Burger King and Little Caesars, but there are some prominent companies when it comes to the trend, including Tum Bell and McDonald's of Yum Brands ,
Beyond CEO Ethan Brown said last quarter at the company's conference call that it has the ability to work with the world's largest fast food chains, assuming the right amount of time and structure.
In June, the company also launched a "beefier" version of its vegan Beyond Burger in grocery stores. The recipe was updated when traditional food companies such as Nestle and Tyson Foods announced their own herbal products.
Beyond has not only improved the burger recipe, but has also developed new products from other meat areas such as bacon has not yet a launch date.