Beyond Meat (BYND) Stock: Will Upcoming Earnings Spark A Comeback After 77% Drop?

TLDR

• Beyond Meat reports Q3 earnings tomorrow after the bell, with analysts expecting revenue to decline 15.1% year over year to $68.77 million
• The company missed revenue expectations by 8.6% last quarter, posting $74.96 million in revenues that were down 19.6% year over year
• CEO Ethan Brown cited “ongoing softness in the plant-based meat category” in Q2, with U.S. retail sales dropping 26.7% in that quarter alone
• The stock has dropped 77% over the past 12 months but is up 25.6% in the last month heading into earnings
• Beyond Meat delayed its Q3 earnings release due to an impairment charge and has not provided full-year guidance

Beyond Meat will announce its third-quarter earnings results on November 11 after the market closes. The plant-based protein company faces investor scrutiny following a delayed earnings release and continued revenue declines.

Beyond Meat, Inc., BYND

Analysts expect Beyond Meat to report revenues of $68.77 million for Q3. This represents a 15.1% decline compared to the same period last year. The company had initially planned to report earnings earlier but postponed the release due to an impairment charge.

Last quarter, Beyond Meat reported revenues of $74.96 million. This missed analyst expectations by 8.6% and marked a 19.6% drop year over year. The company’s revenue guidance for the current quarter also fell short of Wall Street’s projections.

Revenue Declines Across Business Segments

U.S. retail sales took the hardest hit in Q2, plummeting 26.7% year over year. Domestic food service provided a small bright spot with 6.8% growth, but it wasn’t enough to offset the retail weakness. Total U.S. revenues dropped 20.4% to $43.96 million.

International performance showed similar trends. Retail revenues fell 9.8% while food service revenues declined 25.8%. Overall international revenues dropped 18.4% to just under $31 million.

For the first six months of 2025, total revenues declined 14.9% to $143.69 million. The company has missed Wall Street’s revenue estimates three times over the last two years.

Beyond Meat did manage to reduce its losses slightly. The six-month net loss came in at $82.16 million compared to $88.84 million in the prior year period. However, the company continues to burn through cash with no path to profitability in sight.

Balance Sheet Concerns Mount

As of June, Beyond Meat held $103 million in cash. The company also reported a stockholders’ deficit of $677 million. This raises questions about the company’s financial stability given its current market capitalization of $552 million.

The stock has experienced extreme volatility over the past year. Shares dropped 77% over the last 12 months but rallied 25.6% in the past month. This recent uptick stands in contrast to the broader perishable food segment, which declined 3.6% on average during the same period.

Analysts have maintained their estimates over the last 30 days heading into the earnings release. The average analyst price target sits at $2.23 compared to the current share price of $1.30.

Peer companies in the perishable food segment have shown mixed results. Vital Farms reported 37.2% revenue growth and beat estimates by 3.7%. Pilgrim’s Pride posted 3.8% revenue growth and topped estimates by 0.8%.

Beyond Meat has not provided full-year guidance for 2025. The company did offer Q3 revenue estimates ranging from $68 million to $73 million, representing a decline from Q3 2024’s revenues of $81 million. Adjusted loss per share is expected to come in at -$0.43.

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