BYND's 2022 Q3 Revenues: $98 Million
BYND's Q3 2022 revenues are estimated to be $98 million, which is in line with consensus estimates.
I am bullish on Beyond Meat stock (NASDAQ: BYND) despite the challenges the company is facing. I believe the plant-based meat alternative company is well-positioned to capitalize on the growing demand for meat alternatives. Beyond Meat's products are available in over 50,000 retail locations worldwide and the company has partnerships with major food companies such as PepsiCo (PEP), Tyson Foods (TSN), and Nestle (NSRGY). I believe the company's strong fundamentals and growth potential make it a good long-term investment.
The company's announcement that it could see its first-ever drop in annual sales in FY 2022 is worrying. The company's decision to lay off about 20% of its workforce is also concerning. However, the company's lay-offs and cost cuts should help it stabilize its near-term profitability. However, we do not expect the company to break even any time soon.
I expect that Beyond Meat's stock price will remain relatively stable after the company reports its earnings for the third quarter. While revenues and earnings are likely to match expectations, there is little to suggest that the stock will see significant movement in either direction.
It is expected that revenues will meet consensus estimates, providing a boost to the company's bottom line. This is positive news for shareholders and should help the stock price continue to rise.
Looking ahead to Q3 2022, Trefis estimates that Beyond Meat's revenue will come in around $98 million, matching the consensus estimate. However, given the company's disappointing performance in the first half of the year, it remains to be seen whether it will be able to maintain this momentum going forward. Beyond Meat's total pounds sold actually increased 14.6% year-over-year (y-o-y) in Q2 2022, but that volume growth was completely offset by a 14.2% decline in its net revenue per pound, largely due to liquidation sales and currency headwinds. As such, it will be interesting to see how Beyond Meat's business develops in the second half of the year and whether it can return to growth.
As we head into earnings season, all eyes will be on EPS. While companies always hope to beat expectations, EPS is also important in terms of matching consensus estimates.
Beyond Meat's Q3 2022 earnings are expected to be a loss of $1.13 per share, in line with analyst estimates. This loss comes after the company's Q2 net loss of $97 million, which represented 66% of sales. While this loss is an improvement from Q1, when losses reached over 90% of sales, it is still a significant expansion from the Q2 adjusted loss of $0.31 per share.
3) It is estimated that the stock price is currently appropriately priced to the current market price.
Looking ahead to fiscal 2022, we expect a revenue per share estimate of around $7.16 and a P/S multiple of 1.9x, translating into a price of $14. This is just below the current market price, suggesting that the stock may be slightly undervalued at present.
It is helpful to see how a company's stock compares against its peers on metrics that matter. Beyond Meat's stock is compared against peers on metrics such as revenue, earnings, and valuation. Other useful comparisons for companies across industries can be found at Peer Comparisons.
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