BYND: Beyond Meat Stock Shrugs Off Net Loss to Surge 80% on Sizzling Revenue Beat

Plant-based burger maker surprised with $73.7 million in net revenue. Investors didn’t mind the $155 million in net losses.

• Beyond Meat stock BYND exploded a whopping 80% in off-hours trading on Tuesday, before subsiding, after the company revealed a mixed bag of earnings data. Although the vegan burger maker’s bottom line ended up at a net loss of $155 million, more than what analysts expected, its top line—revenue—baked in a juicy surprise.
• Beyond Meat picked up $73.7 million in revenue in the past quarter, topping Wall Street’s estimates for sales of $66.7 million. Part of the reason why investors were scrambling to sink their teeth into the food stock could be that overseas sales marked a pronounced jump on an annualized basis.
• International retail sales rose 22% and overseas restaurant sales ballooned 34% fueled by the rollout of new products. Before today’s open nearly doubles Beyond Meat’s valuation, shares of the veggie meat company are down about 8% on the year. More than that, the stock is down 97% from its all-time high above $230 a pop in the summer of 2019.