Free to flip

30 October 2019 By Amanda Gomez Follow @alpgomez

The vegan-burger maker’s stock fell 22% as a block on insiders’ share sales was lifted. It’s still far above its IPO price, and revenue is rocketing. But it’s a reminder of a simple truth: more supply tends to mean lower prices. Rivals are getting wise to meatless meat’s appeal.

This content is for Subscribers only

Context News

Beyond Meat on Oct. 28 reported net revenue, which excludes promotional discounts, of $92 million for the third quarter, up 250% year-over-year. Earnings of $4.1 million compared with a loss of $9.3 million in the same period a year earlier.

The company, which makes plant-based burgers, increased its full-year net revenue guidance to $265 million to $275 million from the previous outlook of more than $240 million.

Fast-food chain McDonald’s announced in September that it will sell a plant-based burger using Beyond Meat products in 28 locations in Ontario, Canada for three months.

Email a friend

Please complete the form below.

Required fields *