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Beyond Meat (BYND) Q2 Earnings Upcoming: Key Factors to Note
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Beyond Meat, Inc. (BYND - Free Report) is likely to register a year-over-year top-line decrease when it reports second-quarter 2023 earnings on Aug 7. The Zacks Consensus Estimate for quarterly revenues is pegged at $111.3 million, suggesting a decline of 24.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the second-quarter bottom line has been unchanged in the past 30 days to a loss of 81 cents per share. This indicates a 47.1% rise from a loss of $1.53 per share reported in the prior-year quarter.
This meat product company has a trailing four-quarter negative earnings surprise of 14.1%, on average. BYND delivered an earnings surprise of 8.91% in the last reported quarter.
Beyond Meat, Inc. Price, Consensus and EPS Surprise
Beyond Meat has been troubled by various macroeconomic issues, including inflation and rising interest rates, and demand fluctuations in the plant-based meat category.
In its first-quarter earnings release, management addressed concerns about a potential recession, increased competition, supply-chain disruptions, challenges related to labor availability, and the lingering impacts of COVID-19 on consumer behavior and demand levels. These factors raise concerns for the second quarter of fiscal 2023.
Beyond Meat remains committed to innovation, creating delicious and nutritious plant-based products that are sustainable and indistinguishable from animal meat. Beyond Meat recently launched the latest version of Beyond Sausage, providing an even juicier and meatier experience with 40% less saturated fat than leading pork sausages. This is anticipated to have contributed to the fiscal second-quarter performance.
On its last reported quarter’s earnings call, management projected sequential net revenue growth of 15% for the second quarter. This outlook considers tough year-ago comparisons, possible impacts of supply-chain issues, and higher category headwinds than expected. For the year, revenue contributions will be evenly distributed between the first and second halves, with slightly more weight on the first half.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Beyond Meat this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Beyond Meat has a Zacks Rank #2 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat earnings this season.
Coty (COTY - Free Report) currently has an Earnings ESP of +20.00% and a Zacks Rank #2. The company is likely to register bottom-line growth when it reports fourth-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of 2 cents suggests a significant increase from the loss per share of 1 cent reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
COTY’s top line is anticipated to have increased year over year. The consensus mark for COTY’s revenues is pegged at $1.32 billion, indicating an increase of 13.4% from the figure reported in the year-ago quarter. COTY has a trailing four-quarter earnings surprise of 145%, on average.
Hormel Foods (HRL - Free Report) has an Earnings ESP of +0.99% and a Zacks Rank #3 at present. The company is likely to register top-line growth when it reports third-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.12 billion, which suggests growth of 2.8% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hormel Foods’s quarterly earnings has been unchanged in the past 30 days to 41 cents per share, suggesting an increase of 2.5% from the year-ago quarter’s reported number. HRL has a negative trailing four-quarter earnings surprise of 2.3%, on average.
Celsius Holdings (CELH - Free Report) currently has an Earnings ESP of +28.33% and a Zacks Rank #3. CELH is likely to register top-line growth when it reports second-quarter 2023 numbers. The Zacks Consensus Estimate for its quarterly revenues is pegged at $281.1 million, which suggests growth of 82.5% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Celsius Holdings’ quarterly earnings has declined a penny in the past 30 days at 30 cents per share, suggesting growth of 150% from the year-ago quarter’s reported number. CELH had an Earnings ESP of +81.8% in the last reported quarter.
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Beyond Meat (BYND) Q2 Earnings Upcoming: Key Factors to Note
Beyond Meat, Inc. (BYND - Free Report) is likely to register a year-over-year top-line decrease when it reports second-quarter 2023 earnings on Aug 7. The Zacks Consensus Estimate for quarterly revenues is pegged at $111.3 million, suggesting a decline of 24.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the second-quarter bottom line has been unchanged in the past 30 days to a loss of 81 cents per share. This indicates a 47.1% rise from a loss of $1.53 per share reported in the prior-year quarter.
This meat product company has a trailing four-quarter negative earnings surprise of 14.1%, on average. BYND delivered an earnings surprise of 8.91% in the last reported quarter.
Beyond Meat, Inc. Price, Consensus and EPS Surprise
Beyond Meat, Inc. price-consensus-eps-surprise-chart | Beyond Meat, Inc. Quote
Factors to Consider
Beyond Meat has been troubled by various macroeconomic issues, including inflation and rising interest rates, and demand fluctuations in the plant-based meat category.
In its first-quarter earnings release, management addressed concerns about a potential recession, increased competition, supply-chain disruptions, challenges related to labor availability, and the lingering impacts of COVID-19 on consumer behavior and demand levels. These factors raise concerns for the second quarter of fiscal 2023.
Beyond Meat remains committed to innovation, creating delicious and nutritious plant-based products that are sustainable and indistinguishable from animal meat. Beyond Meat recently launched the latest version of Beyond Sausage, providing an even juicier and meatier experience with 40% less saturated fat than leading pork sausages. This is anticipated to have contributed to the fiscal second-quarter performance.
On its last reported quarter’s earnings call, management projected sequential net revenue growth of 15% for the second quarter. This outlook considers tough year-ago comparisons, possible impacts of supply-chain issues, and higher category headwinds than expected. For the year, revenue contributions will be evenly distributed between the first and second halves, with slightly more weight on the first half.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Beyond Meat this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Beyond Meat has a Zacks Rank #2 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat earnings this season.
Coty (COTY - Free Report) currently has an Earnings ESP of +20.00% and a Zacks Rank #2. The company is likely to register bottom-line growth when it reports fourth-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for the quarterly EPS of 2 cents suggests a significant increase from the loss per share of 1 cent reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
COTY’s top line is anticipated to have increased year over year. The consensus mark for COTY’s revenues is pegged at $1.32 billion, indicating an increase of 13.4% from the figure reported in the year-ago quarter. COTY has a trailing four-quarter earnings surprise of 145%, on average.
Hormel Foods (HRL - Free Report) has an Earnings ESP of +0.99% and a Zacks Rank #3 at present. The company is likely to register top-line growth when it reports third-quarter fiscal 2023 earnings. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.12 billion, which suggests growth of 2.8% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hormel Foods’s quarterly earnings has been unchanged in the past 30 days to 41 cents per share, suggesting an increase of 2.5% from the year-ago quarter’s reported number. HRL has a negative trailing four-quarter earnings surprise of 2.3%, on average.
Celsius Holdings (CELH - Free Report) currently has an Earnings ESP of +28.33% and a Zacks Rank #3. CELH is likely to register top-line growth when it reports second-quarter 2023 numbers. The Zacks Consensus Estimate for its quarterly revenues is pegged at $281.1 million, which suggests growth of 82.5% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Celsius Holdings’ quarterly earnings has declined a penny in the past 30 days at 30 cents per share, suggesting growth of 150% from the year-ago quarter’s reported number. CELH had an Earnings ESP of +81.8% in the last reported quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.