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Products from Beyond Meat, the vegan hamburger maker, are on sale at a market in Encinitas, California on June 5, 2019.
Reuters
Thursday, Beyond Meat will announce its profits for the first time since its IPO.
Here's what Wall Street is waiting for, according to a survey conducted by Refinitiv with badysts:
- Revenue: $ 38.9 million planned
Beyond meat has soared more than 160% during its first day of trading in government markets and has now climbed nearly 300% compared to the price of its initial public offering, giving to the company a market value of $ 5.8 billion.
The manufacturer of herbal meat substitutes said a turnover of $ 87.9 million in 2018 and a net loss of $ 4.75 per share.
While its rival, Impossible Foods, was facing shortages in the face of growing demand for its herbal pies, some smaller restaurant operators turned to Beyond Burgers. In addition, unlike Impossible, Beyond also sells its products in grocery stores, accounting for about half of its net sales.
But the market will soon become more crowded. Nestle's Sweet Earth brand will launch its own herbal burger in the fall. Tyson Foods, one of Beyond's top investors, sold its stake in the company prior to its IPO in order to create its own version.
This is a last-minute story. Please check again for updates.
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