BYND

Beyond Meat’s second quarter saw sales fall short of last year, with management citing persistent pressure in U.S. retail and food service segments. CEO Ethan Brown acknowledged that misinformation about plant-based products in the U.S. continues to dampen demand, while strong growth in Europe and Canada provided some offset. Efforts to consolidate production and reduce costs started to show benefits, but lower sales volumes and underutilization of facilities remained key challenges. Brown described the quarter as one of “positive momentum with substantial ground still to cover.” Is now the time to buy BYND? Find out in our full research report (it’s free). Revenue: $68.83 million vs analyst estimates of $60.77 million (8.2% year-on-year decline, 13.3% beat) Adjusted EPS: -$0.09 vs analyst expectations of -$0.08 (13.3% miss) Adjusted EBITDA: -$27.7 million (-40.2% margin, 12% year-on-year decline) Revenue Guidance for Q3 CY2026 is $62.5 million at the midpoint, above analyst estimates of $59.58 million Operating Margin: -44.8%, up from -50% in the same quarter last year Sales Volumes fell 9.5% year on year (-18.9% in the same quarter last year) Market Capitalization: $215.4 million While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Ben Thier (Barclays) asked why consumer acceptance of plant-based products differs so much between Europe and the U.S. CEO Ethan Brown explained that European consumers are more motivated by climate concerns and face less negative industry campaigning than in the U.S. Ben Thier (Barclays) inquired about recent leadership changes, specifically the appointment of Brijesh Krishna Swamy as COO and Brown’s return to the board. Brown said Swamy’s dual U.S. and European experience aligns with Beyond Meat’s growth and stabilization goals. Thomas Palmer (J.P. Morgan) requested updates on cost volatility, especially around freight and ingredients. Brown and CFO Lubi Kutua responded that while ingredient costs are mixed, logistics have improved due to warehouse consolidation, but throughput remains a key challenge for cost absorption. Thomas Palmer (J.P. Morgan) probed on automation and its impact on unit economics. Brown highlighted ongoing trials of the new automated production line and said it should improve conversion costs as volume ramps, but acknowledged that lower volumes are still limiting overall gains. No further analyst questions were recorded on the call. In the coming quarters, our analysts are watching (1) whether international retail momentum, especially in Europe and Canada, accelerates and offsets U.S. weakness, (2) execution of new product launches and the impact on category diversification, and (3) measurable improvements in operational efficiency and cash flow discipline. The continued response to anti-plant-based campaigns in the U.S. will also be a key factor to monitor. Beyond Meat currently trades at $0.42, down from $0.61 just before the earnings. Is there an opportunity in the stock? Find out in our full research report (it’s free for active Edge members). ONE MORE THING: Top 6 Stocks for This Week. This market is separating quality stocks from expensive ones fast. AI is taking down whole sectors with no warning. In a rotation this fast, you need more than a list of good companies. Our AI system flagged Palantir before it ran 1,662% between October 2022 and February 2026. AppLovin before it ran 753% between February 2024 and February 2026. Nvidia before it ran 1,178% between January 2023 and February 2026. Each week it produces 6 new names that pass the same tests. Get Our Top 6 Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Image source: The Motley Fool. Wednesday, Aug. 5, 2026 at 5 p.m. ET Vice President of FP&A and Investor Relations - Paul Sheppard Founder, President, and Chief Executive Officer - Ethan Brown Chief Financial Officer and Treasurer - Lubi Kutua Operator: Good afternoon, everyone. everyone, and thank you for your patience. A quick note that we plan to start the conference call at approximately 5.15 p.m. Eastern Time. The 8K will be filed shortly. We do ask that you please remain on the line as we do, again, we do plan on starting the call at 515 Eastern Time. If you need assistance while you're waiting, please press star and zero to signal an operator. Once again, thank you for your patience. Good afternoon once again everyone and thank you for your patience. We now plan to start the conference call at approximately 5.30 p.m. Eastern Time as the 8K has just been released and we would like to give everyone time to review. Once again, we do ask that you please stay on the line as we now plan to begin the call at 5.30 Eastern Time. Thank you. Excuse me. This is a conference operator. Thank you for your patience. The call is delayed until 5.30 p.m. Eastern Time. It will begin at 5.30 p.m. Eastern Time. Thank you. Good day, everyone. Once again, thank you for your patience. and we would like to welcome everyone to Beyond Meat's second quarter 2026 conference call. At this time, all participants are in a listen-only mode. Later, you'll have the opportunity to ask questions during the question and answer session. To ask a question, you may press star and then 1 on your touchtone phones. To withdraw your questions, you may press star and 2. Please also note today's event is being recorded. It is now my pleasure to turn the conference call over to Paul Shepard, Vice President of FP&A and Investor Relations. Paul Sheppard: Please go ahead. Thank you. Hello, everyone, and thank you for participating in today's call. Joining me are Ethan Brown, founder, president, and chief executive officer, and Luby Kutur, chief financial officer and treasurer. now, everyone should have access to our second quarter 2026 earnings press release filed today after market close. This document is available in the investor relations section of Beyond Meat's website at www.beyondmeet.com. Before we begin, please note that during the course of this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. forward-looking statements in our earnings release, along with the comments on this call, are made only as of today and will not be updated as actual events unfold. We refer you to today's press release, our quarterly report on Form 10-Q for the quarter ended June 27, 2026, to be filed with the SEC, our annual report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC, along with other filings with the SEC, for a detailed discussion of the risks that could cause actual results that differ materially from those expressed or implied in any forward-looking statements made today. Please note that on today's call, management may reference adjusted EBITDA, adjusted loss from operations, and adjusted net loss, which are non-GAAP financial measures. While we believe these non-GAAP financial measures provide useful information for investors, any reference to this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's press release for a reconciliation of these non-GAAP financial measures to their most comparable GAAP measures. And with that, I'd now like to turn the call over to Ethan Brown. Thank you, Paul, and good afternoon, everyone. Ethan Brown: start with our second quarter results, then turn to how we're executing our turnaround across three pillars. Beginning with net revenues, we came in at $68.8 million, roughly $4 million above the high end of our $60 to $65 million guidance range. figure headlines a quarter of sequential progress, even if it is slower than we would like. Specifically, net revenues were down 8.2% year-over-year, and improvement from year-over-year declines of 15.3% in Q1 2026 and 19.7% in Q4 2025. Gross margin tells a similar story at 8.5%, roughly 5.5%. and six points better than Q1 2026 and Q4 2025, respectively. Importantly, this is the last quarter to carry the drag of accelerated depreciation tied to cessation of our China operations, a weight equal to more than two points of margin this quarter. Operating expenses of $36.7 million represented a 15% sequential decline and a 19% decline year-over-year. while EBITDA of negative 27.7 is a slight improvement over the first quarter of 2026. Reduced cash use was a more pronounced improvement, which, excluding financing activities, fell to approximately $18 million, a 44% reduction, or $14 million less, than cash used in the year-ago period. all in a quarter of positive momentum with substantial ground still to cover. Before diving into our forward path, I'll now give some additional detail around select components of our results, starting with net revenues. Our core plant-based meat business continues to face pressure in U.S. retail and food service and in global food service, consistent with category trends. However, this pressure was partially offset by strong growth in Europe and Canada, where retail was up by double digits in both markets year over year, respectively. In the U.S., we are seeing some signs of stabilization in certain pockets of U.S. retail, with our core burger, ground beef, and dinner sausage products demonstrating resiliency in specific, though certainly not all, accounts. We are hopeful that these positive signs endure and strengthen, but are also acutely aware that misinformation regarding the health of our products continues to impact our retail and food service businesses in the United States. As I've often shared, over the years, we've responded to this misinformation by further leaning in to the health of our portfolio, raising the bar on its nutritional profile while working extensively with health institutions, physicians, nutritionists, and universities. That work has earned recognition from the American Heart Association and American Diabetes Association, among others, and is buttressed by clinical trials by leading researchers as well as consumer case studies. These efforts notwithstanding, we still operate in a world where clean protein from Faba beans, grown by farmers in the rich soils of North Dakota and Montana, blended with heart-healthy avocado oil, has been, in the main, tarnished by incumbent industry-funded campaigns. To this end, we are increasingly addressing the source of this information in our efforts to educate consumers. Most recently, our Don't Believe the Cropaganda campaign was named by Ad Age as one of the top five creative ads to know about right now and voted a top five campaign in the publication's best campaign of the month reader poll. This upper funnel education work is being done simultaneously with targeted lower funnel activities, including shopper marketing programs at leading retailers that clearly emphasize what our products actually offer. Strong macronutrient content and ratios, clean ingredient decks, and compelling taste. Turning now to operations, as we move past many of the drags of elevated operating expenses and higher cost inventory, we under underlying strength of our operations is beginning to emerge as we see strong execution across our global production network and a notable sequential reduction in cost of goods sold. The quarter's margin reflects early returns from some of this execution. First, we consolidate our production network and are finishing trials on our new continuous line at our Columbia, Missouri facility. absorbing volume that had previously been outsourced and improving conversion costs year over year. Second, we reduced certain material costs through contract renegotiation with further savings in progress through RFPs, secondary sourcing, and formulation adjustments. we consolidated warehouses, lowered logistics expense, and exited less profitable product lines. As in prior quarters, the benefit of these programs was muted by lower volume and the resulting underabsorption of overhead, a persistent overhang we are aiming to address through a combination of growth programs and facilities planning. Finally, as noted at the onset, operating expenses continue to fall and, while benefiting from certain non-routine items, mainly reflect the impact of ongoing focus on SG&A and transformation work required to achieve the goals of the SGA. to position the business for sustainable operations. Moving from the quarter's results to our path forward, I'll now focus my comments around three pillars intended to deliver the enterprise to sustainable growth. These are, one, invest in growth in Europe and Canada. We'll continue to work to stabilize our core U.S. business. Two, complete our evolution from a narrow focus on plant-based meat to a broader focus on nutrition as beyond the plant protein company. 3. Drive operational efficiency and unit economic improvement. I'll now turn to the first pillar. Europe and Canada present our clearest near-term growth engines for our core product lines, and we are investing behind them accordingly. In Europe, we are cautiously encouraged by markets such as Germany and the UK, as well as performance therein, while in Canada, we continue to enjoy strong retail distribution. both markets, we plan to invest behind this growth as well as bring innovation to the consumer. Here in the U.S., in addition to the upper and lower funnel marketing campaigns that I discussed earlier, we continue to bring new center-of-the-plate protein to market as we seek to stabilize U.S. net revenues. Beyond Steak Filet made its retail debut this quarter. Since launching on a direct-to-consumer platform, Beyond Test Kitchen, in late 2025, it's become one of our best-selling items online, with strong consumer reviews for taste, texture, and nutrition. It delivers 28 grams of plant protein, 3 grams of fiber, and 1 gram of saturated fat per serving from avocado oil, and is one of more than 20 products in our portfolio to earn Clean Label Project certification. believe it is one of our most compelling center-of-the-plate innovations since the Beyond Burger. It launched at Wegmans and HEB in July, followed by Meijer, and we expect additional retailers to come. We are also building stronger brand blocks in frozen retail with existing products. Beyond Chicken Pieces Spicy Buffalo rolled out to more than 2,000 Kroger stores nationwide. 21 grams of plant protein, half a gram of saturated fat, no cholesterol, and 130 calories. Like the original variety, it meets non-GMO project standards. Together, they are the first plant-based chicken product certified by the Clean Label Project. And we launched our new Beyond Breakfast sausage lineup, links and patties, original and spicy, at Kroger, Sprouts, and Whole Foods markets nationwide, strengthening our position in the breakfast category. With that, I'll now cover our second pillar, the broadening of our company aperture and entry into faster-growing adjacent markets. For nearly two decades, we have innovated with plants under intense scrutiny, and we've made a habit of turning attacks into strengths. As noted, when misinformation campaigns falsely painted our products as unhealthy, we made them even healthier. When those campaigns disingenuously sought to seed doubt about our ingredients, we pushed the envelope on clean and simple formulations, and as mentioned previously, now hold more than 20 clean label product certifications. Thank you. Throughout this journey, we've become exceptionally good at making simple plant-based ingredients perform as delicious center-of-the-plate proteins, leveraging significant investments across plant biology, chemistry, and functionality. These capabilities travel and coupled with the extraordinary nutritive power of plants form the basis of our second strategic pillar. As we enter adjacent categories, we are not looking to repeat what has already been done. Instead we apply a different lens. We seek to deliver powerful phytonutrients that are often under consumed in modern diets but can be so essential to optimized health. Today, many products make claims that deliver a light dusting of phytonutrients when in fact clinically meaningful amounts are required to create useful signals in the body. Our system is intended to avoid that trap. You can see early signs of this strategy in the greater inclusion of fiber across our lines, from beverage to ground to stake. The first product to launch under this expanded aperture targets the large and growing functional drink market. Beyond Immerse is a clear, lightly carbonated beverage built around four plant superpowers, protein, fiber, antioxidants, and electrolytes. In doing so, it addresses four distinct functional beverage categories, protein, fiber, vitamin, and electrolyte drinks, in a single, refreshing format. Each can delivers 20 grams of clean plant protein for muscle health, 5 to 7 grams of fiber for gut health, antioxidants for immunity and recovery, and electrolytes for hydration, all at 100 to 110 calories. As with Beyond Steak Filet, we introduced Immerse through Beyond Test Kitchen. allowing us to engage consumers directly, gather feedback, and bring our community into the innovation process. In keeping with our rapid and relentless innovation program, we turned iterations quickly. after launching online what was then our latest iteration in a sleek green can, the MRSS averaged 4.7 out of 5 stars on submitted reviews on our direct-to-consumer platform. I call this version the then-latest iteration, as we have just launched our newest version, leveraging the natural sweetness of agave as part of our rollout with Big Geyser, the New York distributor. This sequence, access our community through our direct-to-consumer platform, engage and learn from early adopters who become part of our innovation process, then move at a deliberate pace into a focused geography, innovating along the way, is at the center of our adjacent market strategy. Over time, we intend to build a portfolio across relevant adjacencies, unified by a single product strategy. delivering powerful, delicious, and convenient plant-based nutrition across consumer needs states. As we do so, you will also see us return to a playbook that we used extensively while building our business. Athletes who understand the superpowers of plants and what they can do to build, fuel, and restore the body. I'd encourage you to check out our latest work with Josh Hart, the world champion New York Knicks. And finally, to our third pillar, we'll remain focused on operating expenses, unit economics, fixed cost absorption, and cashews. Despite recent progress, we have a great deal of work ahead. We plan to keep downward pressure on operating expenses and intend to further pursue margin gains by optimizing our production system, including the new continuous line that I referenced in Columbia. through RFPs across ingredients and materials. We plan to better calibrate our facilities to volume, even as we seek to execute the above-articulated two-track return to growth and bring higher throughput to our production facilities and lines. And we will continue to take steps, large and small, with the goal of reaching cash flow positive operations as quickly as possible. In closing, we've done a lot of spade work toward what I believe will be an exciting turnaround. We continue to be focused on simultaneously stabilizing our core business. improving our cost structure, and expanding into faster-growing functional food and beverage categories. With a more efficient operating model, a disciplined and cutting edge approach to innovation, and focused go-to-market strategy, we believe we can deliver improved financial performance and the extraordinary powers of plant-based nutrition to an ever-broadening base of consumers. With that, I'll turn the call over to Luby to review our second quarter of financials in greater detail. Lubi Kutua: Thank you, Ethan, and hello, everyone. I'll begin my remarks today by reviewing our second quarter financial results in a bit more detail, and we'll then provide some brief comments on our third quarter outlook before opening up the call for your questions. Net revenues decreased 8.2% to $68.8 million in the second quarter of 2026, compared to $75 million in the year-ago period. The decrease in net revenues was primarily driven by a 9.5% decrease in volume of products sold, partially offset by a 1.4% increase in net revenue per pound. Broadly speaking, on a year-over-year basis, we continue to experience greatest pressure in our food service channels, both in the U.S. and abroad, while our retail channels are showing more encouraging signs of improvement, most notably in international. Overall, the decrease in volume of products sold for the second quarter of 2026 was primarily driven by lower sales of burger and chicken products to certain QSR customers in the international food service channel and by weak category demand and reduced points of distribution in our U.S. retail and food service channels. Net revenue per pound increased on a year-over-year basis, primarily driven by changes in product sales mix and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts. Taking a closer look by channel, in our U.S. retail channel, net revenues decreased 9.9% to $29.6 million in the second quarter of 2026, compared to $32.9 million in the year-ago period. Total volume of products sold in U.S. retail declined 5.7% on a year-over-year basis, primarily reflecting persistent category softness and reduced points of distribution within certain channels. With respect to the latter, some of the distribution losses that impacted our Q2 results were associated with packaging transitions on certain items and are therefore expected to be transitory. However, challenges related to general category softness remain. In terms of price realization, net revenue per pound in U.S. retail was down 4.5% year-over-year, primarily driven by higher trade discounts and lower price realization on certain items, partially offset by changes in product sales mix. Turning to U.S. Food Service, net revenues in our U.S. Food Service channel decreased 27.6% to $8 million in the second quarter of 2026, compared to $11.1 million in the year-ago period. The decrease was primarily driven by a 27.4% decrease in volume of products sold, with net revenue per pound declining slightly year over year. Volume of products sold in our U.S. food service channel continue to be negatively impacted by distribution losses, primarily among smaller independent operators and general category softness. Net price realization in U.S. food service was slightly unfavorable on a year-over-year basis as higher trade discounts and lower price realization on certain items more than offset favorable changes in product sales mix. All net revenues increased 16.5% to $18.5 million in the second quarter of 2026, compared to $15.9 million in the year-ago period. The increase in international retail channel net revenues was primarily driven by an 8.2% increase in volume of products sold and a 7.7% increase in net revenue per pound. The volume of products sold in this channel continues to benefit from higher sales of burger and chicken products in European markets, as well as increased sales of ground beef products in Canada. The increase in net revenue per pound in international retail primarily reflects price increases in certain geographies and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts. Finally, in our international food service channel, net revenues decreased 16 percent to $12.7 million in the second quarter of 2026, compared to $15.1 million in the year-ago period. The decrease in international food service channel net revenues was primarily driven by a 20.4% decrease in volume of products sold, partially offset by a 5.5% increase in net revenue per pound. The decrease in volume of products sold in our international food service channel mainly reflects lower sales of burger and chicken products to certain QSR customers in Europe and Canada, while the increase in net revenue per pound was mainly attributable to favorable changes in foreign currency exchange rates and lower trade discounts. Now turning to gross profit. Gross profit in the second quarter of 2026 was $5.9 million, or gross margin of 8.5%, compared to gross profit of $7.9 million, or gross margin of 10.6% in the year-ago period. Gross profit and gross margin in the second quarter of 2026 included $1.6 million in expenses related to the cessation of our operational activities in China. compared to $1.7 million in the year-ago period. Additionally, gross profit and gross margin in the second quarter of 2026 were negatively impacted by higher materials costs and higher manufacturing expenses, including depreciation, partially offset by lower inventory provision. The increase in manufacturing expenses in part reflected the impact from year-over-year volume declines, which has a negative impact on fixed cost absorption. Operating expenses were $36.7 million in the second quarter of 2026 compared to $45.4 million in the year-ago period. Operating expenses in the second quarter of 2026 included $4.7 million in incremental share-based compensation expense related to our convertible debt exchange, $0.5 million in certain non-routine SG&A expenses, $0.5 million in non-routine SG&A expenses, $0.5 $4 million in amortization of costs related to a partial lease termination of a portion of our campus headquarters. and a credit of $11 million reflecting the settlement of arbitration proceedings related to a previously disclosed contractual dispute with a former co-manufacturer compared to an expense of $2.5 million in the year-ago period. Loss from operations was therefore $30.8 million in the second quarter of 2026 compared to $37.5 million in the year-ago period. Below the line, total other income net was $47.2 million in the second quarter of 2026 compared to $5.7 million in the year-ago period, with a significant increase primarily reflecting a non-cash gain on debt extinguishment of $57.7 million, partially offset by a reduction in other income net, increased interest expense related to our delayed draw term loan facility, and remeasurement loss of derivative liability stemming from the 2030 notes embedded derivatives. Net income was therefore $16.4 million in the second quarter of 2026, or $0.03 per common basic share, compared to net loss of $31.8 million in the year-ago period, or minus $0.42 per common share in the year-ago period. Adjusted EBITDA was a loss of $27.7 million or minus 40.2% of net revenues in the second quarter of 2026 compared to an adjusted EBITDA loss of $24.7 million or minus 33% of net revenues in the year-ago period. Turning briefly to our balance sheet and cash flow highlights, our cash and cash equivalents balance, including restricted cash, was $186.1 million, and total outstanding carrying value of debt, net of debt discount, was $323.8 million as of June 27, 2026, which included the total undiscounted future cash flows of the new 2030 notes recorded at the completion of our convertible debt exchange. Net cash used in operating activities was $23.2 million in the six months ended June 27, 2026, compared to $58 million in the year-ago period. Capital expenditures totaled $4 million in the six months ended June 27, 2026, compared to $6.4 million in the year-ago period. Net cash used in financing activities was $6.6 million in the six months ended June 27, 2026, compared to net cash provided by financing activities of $32.3 million in the year-ago period, which included a partial draw on our delayed draw term loan. As Ethan mentioned, we were pleased that our quarterly cash consumption, excluding financing activities, continues to show meaningful improvement versus year-ago levels, which reflects in part savings related to our transformation program as well as effective inventory management. Finally, I'll touch briefly on our outlook. As in recent periods, we are continuing to provide only limited net revenue guidance given ongoing levels of uncertainty and volatility within our operating environment, which we believe may continue to have unforeseen impacts on our actual realized results. At this end, in the third quarter of 2026, we expect net revenues to be in the range of approximately $60 million to $65 million. And with that, I'll turn the call over to the operator to open it up for your questions. Operator: Ladies and gentlemen, at this time we'll begin the question and answer session. To ask a question, you may press star and then one using your touch tone telephones. If you are using a speaker phone, we do ask that you please pick up the handset before pressing the keys to ensure the best sound quality. To withdraw your questions, you may press star and 2. Again, that is star and then 1 to join the question queue. We'll pause momentarily to assemble the roster. And our first question today comes from Ben Thier from Barclays. Please go ahead with your question. Unknown Speaker: Yes, hey, good afternoon, Ethan, Luby. Thanks for taking my question and all the details so far on the call. A couple of things I just wanted to get through real quick. As you look at the performance in the different regions, and you've clearly highlighted Europe and Canada as good opportunities, but still drag in others. First of all, as you look at the different consumer dynamics or demand dynamics in these regions, Can you help us maybe understand a little bit better why there is such a difference in terms of just acceptance or just consumer willingness to engage with the products and, for example, Europe versus the U.S.? That would be my first question. Ethan Brown: Thank you, and it's good to hear from you. So I think what we're seeing, and we're beginning to see this in a sustained level, in your In Europe, we do not face the same very significant campaigns and misinformation that we do here in the US. from the incumbent industry. I mean, they are organized there, and they do have some activities going on, but it did not gather the same momentum. So that's one backdrop. And the second is that the consumer there, I think, links much more readily their food consumption choices to climate. And climate there is obviously being taken... more seriously than it is here in the US from a policy and consumer behavior perspective. And of course they're experiencing some of the most difficult summers they've had in a long time. So I think those types of things are working in our favor. in the markets and then you look at different pockets. Germany is very strong. UK is pretty good. Netherlands, where we are, also has some strength to it. And we've also just appointed, I think, a long-time partner of mine and of ours to run Europe for us. and Adrian, and we're very excited about that. So you'll see us continue to invest in Europe. The dynamics there are such that the kind of negative narrative that was framed here by the meat industry is just not present there in the same strength. And so I think that's the overall reason. Unknown Speaker: Okay. And then more like of a corporate actions, I mean, just a couple of days ago, you made a couple of changes, hiring or bringing on a COO with Krishna Swamy. You're returning to the board. Could you talk a little bit more about what the thought process behind that is, behind the board?. Ethan Brown: those changes? Yes. So I think, you know, John Boken has done a fantastic job for us as an interim consultant of Transformation Officer Irvin and serving in that capacity, but the goal always was to bring on someone full time. So he's been very patient working with us and allowing us the time to pick the right candidate. And one of the things that I love about Brijesh is his background. if you look closely at his career, is both in the US and in Europe, specifically in the Netherlands. And so, as you think about what he's done that I'm trying to accomplish in terms of growing both in Europe and stabilizing here in the US, he's a really good fit for that. as well as just having broad commercial experience and operating experience. So we're happy that we got the right candidate in the door and looking forward to him starting. Myself, going back to the board, I'm happy to do it, but it's really more about the operating work that I'm doing and making sure we get through this turnaround, which I feel quite good about, particularly as we go into some of these adjacent categories. So I tried to frame on the introductory comments, I really do think about this in terms of three pillars, the first being let's stabilize business and got a lot of work to do in the US. We're getting a lot of help from Canada and from Europe. And then second, let's take the technology, the science, the brand into adjacent categories that are not as challenged as the core category they're in. And when we do that, we have the ability to go into those markets with a lot of experience and with a lot of expertise. And I believe great products that differentiate quickly and raise the bar in each of the categories we're in. From an innovation perspective, we have a lot of dry powder left, and I think you'll see us use that to create some momentum in each of the categories we go into. MRS was just the first, but there will be others to follow. Operator: Okay. Perfect. Thank you very much. I'll pass it on. Once again, if you would like to ask a question, please press star and 1. Our next question comes from Thomas Palmer from J.P. Morgan. Please go ahead with your question. Thomas Palmer: Good afternoon. Thanks for the question, guys. Maybe just starting off on the cost environment, I appreciate how dynamic it is, but maybe at a high level. Anything that you're seeing, you know, be it with freight or other areas that have been more volatile just as we sit today, and kind of maybe actions to mitigate it if there are some? Sure. That's a great question. Thanks. Ethan Brown: So when I look at the unit economics, I mean the main, we're obviously focused on continuing to drive down direct materials and direct labor and all these things. the main solve here is throughput, right? Like, we continue to try to optimize our facilities, but the best and ultimate solve here is to just get more volume through those facilities. And so when you have a reduction... in volume to the extent that we did, 9.5% or so, you're going to see downward pressure because of the lower cost absorption, overhead absorption. That, I think, is the main focus. We also have a lot of initiatives going on, whether the RFPs. One of the ones that I'm most excited about is the continuous line that we've stood up in Columbia, Missouri. We're still testing that. We're still spinning it up. But as that comes into focus and starts to really contribute to our volume, that's going to pay, I think, a really nice dividend in terms of conversion. But I'll turn it over to Lubbe if he has any other comments. Yes, no, I mean, I think you largely covered it. Lubi Kutua: there, Ethan. So we are seeing within our total basket of cost of goods sold, some pockets of inflation. And then there's other key inputs where we you know, do expect to see some savings on a year-over-year basis. So I would say, like, just, you know, from just the general level of ingredients, cost, inflation, we don't expect that to be, you know, necessarily overly excessive this year and where what Ethan mentioned about you know where we're really looking for efficiencies right in terms of the throughput and investments in automation etc that's That's really where we would expect over time to continue to drive additional costs out of our production processes. In terms of logistics, obviously the transportation has been a relatively volatile space the last several months, but I think we've offset a lot of that with some really good work that we've done on the warehousing side. We've significantly consolidated our warehousing footprint. And so we're actually doing pretty well in terms of our logistics costs within cost of goods sold. So I think clearly still more work to be done from a cost of production perspective. But I think just given some of the volatility that we've seen in the broader environment, the team has done a pretty solid job. Operator: Great. Thanks for such a thorough answer. Sure. And with that, ladies and gentlemen, we'll be concluding today's question and answer session. I'd like to turn the floor back over to management for any closing remarks. Ethan Brown: Thanks for the time. Thanks for the continued interest. We're, I think, showing this quarter sequential progress across the metrics that at the top line, going from 19 to 15, down to eight, and we hope to cross over that threshold as soon as we possibly can. and then also just continuing to drive cash use down. You know, if you look at the six months ending June 27th, we're less than half of the cash consumed vis-a-vis a year ago period. We've got work to do. We have a lot of margin work to do and things of that nature and to get the top line back growing again. But overall, I was pleased with the direction that we saw this quarter, and I think we're excited to demonstrate what we can do in some of these adjacent categories, even as we continue to work to stabilize our core. So we'll talk to you in a few months. Thanks. Operator: And with that, ladies and gentlemen, we'll be concluding today's conference call and presentation. We do thank you for joining. You may now disconnect your lines. Before you buy stock in Beyond Meat, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Beyond Meat wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $403,337!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,946!* Now, it’s worth noting Stock Advisor’s total average return is 958% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 12, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Beyond Meat. The Motley Fool has a disclosure policy. Beyond Meat (BYND) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the sequential improvement in revenue declines to strong double-digit retail growth in Europe and Canada, which partially offset persistent pressure in U.S. channels. The company is executing a three-pillar turnaround strategy: investing in international growth engines, expanding into functional nutrition adjacencies, and driving unit economic improvements. U.S. performance continues to be hampered by industry-funded misinformation campaigns regarding the health profile of plant-based meats, which the company is countering with its 'Don't Believe the Cropaganda' campaign. Gross margin improvements were driven by the consolidation of the production network, though these gains were partially offset by the ongoing drag from the cessation of China operations., though benefits were muted by lower volume and resulting under-absorption of overhead. Operational efficiency is being targeted through the launch of a new continuous production line in Columbia, Missouri, intended to absorb volume previously handled by more expensive third-party co-manufacturers. The company is evolving from a narrow plant-based meat focus to a broader 'plant protein company' identity, leveraging its R&D to enter faster-growing adjacent markets like functional beverages. Q3 2026 revenue guidance of $60 million to $65 million reflects ongoing uncertainty and volatility in the operating environment, particularly within U.S. retail and food service. The company expects to reach cash flow positive operations by maintaining downward pressure on operating expenses and optimizing fixed cost absorption through higher throughput. Strategic expansion into the functional drink market via 'Beyond Immerse' is intended to capture growth in the protein, fiber, and electrolyte beverage categories. Management plans to utilize a direct-to-consumer 'Test Kitchen' platform to iterate on new innovations before moving into focused geographic rollouts with traditional distributors. Future margin gains are dependent on successfully calibrating facilities to volume and completing ongoing RFP processes for ingredients and secondary sourcing. The Q2 results included an $11 million credit from the settlement of arbitration proceedings with a former co-manufacturer, significantly impacting operating expenses. A non-cash gain on debt extinguishment of $57.7 million was recorded following a convertible debt exchange, resulting in a GAAP net income for the quarter. The cessation of operations in China acted as a two-point drag on gross margin this quarter, marking the final period this specific depreciation weight will impact results. Management noted that some U.S. retail distribution losses were transitory, stemming from packaging transitions rather than permanent shelf-space loss. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that Europe does not face the same level of organized misinformation campaigns from the incumbent meat industry as the United States. European consumers more readily link food choices to climate change, providing a more favorable policy and behavioral backdrop for plant-based adoption. The appointment of a permanent COO with experience in both the U.S. and the Netherlands is intended to bridge the company's two primary growth and stabilization theaters. Ethan Brown's return to the board is focused on overseeing the operational turnaround and the expansion into adjacent product categories. The company has consolidated its warehousing footprint to offset volatility in transportation costs, leading to improved logistics efficiency within COGS. Management emphasized that the primary solution for unit economic improvement is increasing throughput to address the 'persistent overhang' of fixed cost under-absorption.

EL SEGUNDO, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™ (the “Company” or “Beyond Meat”), today reported financial results for its second quarter ended June 27, 2026. Second Quarter 2026 Financial Highlights1 Net revenues were $68.8 million, a decrease of 8.2% year-over-year. Gross profit was $5.9 million, or gross margin of 8.5%, compared to gross profit of $7.9 million, or gross margin of 10.6%, in the year-ago period. Loss from operations was $30.8 million, or operating margin of -44.8%, compared to loss from operations of $37.5 million, or operating margin of -50.0%, in the year-ago period. Net income was $16.4 million, compared to net loss of $(31.8) million in the year-ago period. Net income per share available to common stockholders - basic was $0.03, compared to net loss per share available to common stockholders - basic of $(0.42) in the year-ago period. Net loss per share available to common stockholders - diluted was $(0.06), compared to net loss per share available to common stockholders - diluted of $(0.42) in the year-ago period. The increase in net income was primarily driven by a $57.7 million non-cash gain on debt extinguishment in connection with conversions of a portion of the Company’s 2030 Notes. Adjusted EBITDA was a loss of $27.7 million, or -40.2% of net revenues, compared to an Adjusted EBITDA loss of $24.7 million, or -33.0% of net revenues, in the year-ago period. Beyond Meat President and CEO Ethan Brown commented, “Our second quarter results represent directional progress, with net revenues, gross margin and operating expenses all sequentially improving, and our top line comfortably exceeding the high end of our guidance.” Brown continued, “We continue to work to stabilize our plant-based meat business, with highlights including growth in international retail and the U.S. retail debut of Beyond Steak Filet, and to build upon this core as we reposition around Beyond The Plant Protein CompanyTM to pursue faster-growing adjacent categories. The exciting launch of Beyond Immerse represents the first output of this expanded aperture, and we expect more to come as we execute our plan to deliver the superpowers of plants to a broadening group of consumers.” Second Quarter 2026 Net revenues decreased 8.2% to $68.8 million in the second quarter of 2026, compared to $75.0 million in the year-ago period. The decrease in net revenues was primarily driven by a 9.5% decrease in volume of products sold, partially offset by a 1.3% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by lower sales of burger and chicken products to Quick Service Restaurant (“QSR”) customers in the international foodservice channel, and by weak category demand and reduced points of distribution in the U.S. foodservice and retail channels. The increase in net revenue per pound was primarily driven by changes in product sales mix and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts. U.S. retail channel net revenues decreased 9.9% to $29.6 million in the second quarter of 2026, compared to $32.9 million in the year-ago period. The decrease in U.S. retail channel net revenues was primarily driven by a 5.7% decrease in volume of products sold and a 4.5% decrease in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand and reduced points of distribution within certain channels. The decrease in net revenue per pound was primarily driven by higher trade discounts and lower price realization on certain of the Company’s products, partially offset by changes in product sales mix. U.S. foodservice channel net revenues decreased 27.6% to $8.0 million in the second quarter of 2026, compared to $11.1 million in the year-ago period. The decrease in U.S. foodservice channel net revenues was primarily driven by a 27.4% decrease in volume of products sold and a 0.2% decrease in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand and reduced points of distribution. The decrease in net revenue per pound was primarily driven by lower price realization on certain of the Company’s products and higher trade discounts, partially offset by changes in product sales mix. International retail channel net revenues increased 16.5% to $18.5 million in the second quarter of 2026, compared to $15.9 million in the year-ago period. The increase in international retail channel net revenues was primarily driven by an 8.2% increase in volume of products sold and a 7.7% increase in net revenue per pound. The increase in volume of products sold was primarily driven by higher sales of burger products and chicken products in European markets and the U.K., and increased sales of ground beef products in Canada. The increase in net revenue per pound was primarily driven by price increases of certain of the Company’s products and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts. International foodservice channel net revenues decreased 16.0% to $12.7 million in the second quarter of 2026, compared to $15.1 million in the year-ago period. The decrease in international foodservice channel net revenues was primarily driven by a 20.4% decrease in volume of products sold, partially offset by a 5.5% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by lower sales of burger and chicken products to certain QSR customers. The increase in net revenue per pound was primarily driven by favorable changes in foreign currency exchange rates and lower trade discounts. Net revenues by channel (unaudited): The following table presents the Company's net revenues by channel for the respective periods presented (in thousands, except for percentages): Volume of products sold by channel (unaudited): The following table presents consolidated volume of the Company’s products sold in pounds for the respective periods presented (in thousands, except for percentages): Gross profit in the second quarter of 2026 was $5.9 million, or gross margin of 8.5%, compared to gross profit of $7.9 million, or gross margin of 10.6%, in the year-ago period. Gross profit and gross margin in the second quarter of 2026 included $1.6 million in expenses related to the cessation of the Company’s operational activities in China, compared to $1.7 million in the year-ago period. Additionally, gross profit and gross margin in the second quarter of 2026 were negatively impacted by a 3.8% increase in cost of goods sold per pound, partially offset by a 1.3% increase in net revenue per pound. The increase in cost of goods sold per pound primarily reflected increased materials costs and higher manufacturing expenses, including depreciation, which included $1.6 million in expenses related to the cessation of our operational activities in China, partially offset by lower inventory provision.Operating expenses were $36.7 million in the second quarter of 2026, compared to $45.4 million in the year-ago period. Operating expenses in the second quarter of 2026 included $4.7 million in incremental share-based compensation expense related to the Company’s convertible debt exchange, $0.5 million in certain non-routine SG&A expenses, $0.4 million in amortization of costs related to a partial lease termination of a portion of the Company’s Campus Headquarters, and a credit of $11.0 million reflecting the settlement of arbitration proceedings related to a previously-disclosed contractual dispute with a former co-manufacturer, compared to an expense of $2.5 million in the year-ago period. Loss from operations in the second quarter of 2026 was $30.8 million, compared to $37.5 million in the year-ago period. The reduction in loss from operations was driven by the decrease in operating expenses, partially offset by the decrease in gross profit. The following table summarizes certain charges recorded in the Company’s condensed consolidated statement of operations for the second quarter of 2026 (unaudited): Total other income, net, was $47.2 million in the second quarter of 2026, compared to $5.7 million in the year-ago period. The increase in total other income, net, was primarily due to $57.7 million in non-cash gain on debt extinguishment in connection with conversions of a portion of the Company’s 2030 Notes, partially offset by a $4.6 million increase in interest expense and a $3.8 million non-cash loss from the remeasurement of derivative liability. Net income was $16.4 million in the second quarter of 2026, compared to net loss of $(31.8) million in the year-ago period. Net income per share available to common stockholders - basic was $0.03, compared to net loss per share available to common stockholders - basic of $(0.42) in the year-ago period. Net loss per share available to common stockholders - diluted was $(0.06), compared to net loss per share available to common stockholders - diluted of $(0.42) in the year-ago period. The increase in net income in the second quarter of 2026 was primarily driven by the increase in total other income, net, and the decrease in loss from operations. Adjusted EBITDA was a loss of $27.7 million, or -40.2% of net revenues, in the second quarter of 2026, compared to an Adjusted EBITDA loss of $24.7 million, or -33.0% of net revenues, in the year-ago period. Balance Sheet and Cash Flow Highlights The Company’s cash and cash equivalents balance, including restricted cash, was $186.1 million and total outstanding carrying value of debt, net of debt discount, was $323.8 million as of June 27, 2026, which included the total undiscounted future cash flows of the 2030 Notes recorded at the completion of the Company’s convertible debt exchange. Net cash used in operating activities was $23.2 million in the six months ended June 27, 2026, compared to $58.0 million in the year-ago period. Capital expenditures totaled $4.0 million in the six months ended June 27, 2026, compared to $6.4 million in the year-ago period. Net cash used in investing activities was $2.3 million in the six months ended June 27, 2026, compared to $6.1 million in the year-ago period. Net cash used in financing activities was $6.6 million in the six months ended June 27, 2026, compared to net cash provided by financing activities of $32.3 million in the year-ago period. Third Quarter 2026 Outlook The Company continues to experience an elevated level of uncertainty and volatility within its operating environment, which has, and may continue to have, unforeseen impacts on the Company’s actual realized results. In light of this uncertainty, the Company is limiting its outlook to the following: In the third quarter of 2026, net revenues are expected to be approximately $60 million to $65 million. Conference Call and Webcast The Company will host a conference call to discuss these results at 5:00 p.m. Eastern, 2:00 p.m. Pacific on Wednesday, August 5, 2026. Investors interested in participating in the live call can dial 412-902-4255. There will also be a simultaneous, live webcast available on the Investors section of the Company’s website at www.beyondmeat.com. The webcast will also be archived. About Beyond Meat Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™, is a plant protein company offering a portfolio of plant-based products made from simple ingredients without GMOs, no added hormones or antibiotics, and 0 mg of cholesterol per serving. Founded in 2009, Beyond Meat’s core products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat’s brand promise, Eat What You Love®, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based protein to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. Visit www.BeyondMeat.com and follow @BeyondMeat on Facebook, Instagram, Threads and LinkedIn. Forward-Looking Statements Certain statements in this release constitute “forward-looking statements" within the meaning of the federal securities laws, including statements related to the Company’s expectations with respect to its third quarter 2026 outlook, its strategic repositioning and expansion into adjacent product categories, and efforts towards sustainable growth and improved financial performance. Forward-looking statements are based on management's current opinions, expectations, beliefs, plans, objectives, assumptions and projections regarding financial performance, prospects, future events and future results, including ongoing uncertainty related to macroeconomic issues, including high inflation and interest rates, prolonged, weakening demand in the plant-based meat category, ongoing concerns about the likelihood of a recession and increased competition, among other matters, and involve known and unknown risks that are difficult to predict. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “outlook,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which or whether, such performance or results will be achieved. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Beyond Meat believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. There are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, but not limited to: a further decrease in demand, and the underlying factors negatively impacting demand, in the plant-based meat category, including the exacerbation of weakness in the category by macroeconomic trends; the success of our marketing initiatives and the ability to maintain and grow our brand awareness, maintain, protect and enhance our brand, or rebrand altogether, attract and retain new customers and maintain and grow our market share, particularly while we are seeking to reduce our operating expenses; the success of our strategic repositioning to "Beyond The Plant Protein Company," including risks related to brand dilution or confusion, the failure to achieve meaningful consumer acceptance of an expanded portfolio of plant-based protein offerings across multiple categories and adjacencies, and the diversion of management time and financial resources from our existing business or other priorities; changes in the retail landscape, including our ability to maintain and expand our distribution footprint, the timing, success and level of trade and promotion discounts, our ability to maintain and grow market share and increase household penetration, repeat purchases, buying rates (amount spent per buyer) and purchase frequency, our ability to maintain and increase sales velocity of our products, and the timing and success of our efforts to expand distribution channels, such as our direct-to-consumer (DTC) channel, and planned new products or recently launched products; our ability to successfully innovate and commercialize new plant-based protein products, including in adjacent categories outside of our core, meat analog offerings, such as our Beyond Immerse functional beverage line of sparkling plant-based protein drinks, and consumer acceptance of such new products; the sufficiency of our cash and cash equivalents to meet our liquidity needs, including estimates of our expenses, future revenues, capital expenditures and capital requirements; our ability to obtain additional equity and/or debt financing, the terms of any such financing, and our ability to continue to bolster our balance sheet, particularly because we no longer satisfy the eligibility requirements for use of a registration statement on Form S-3 and, as a result, are unable to access our ATM Program; risks associated with our indebtedness, leverage and liquidity relating to our significant debt, including our ability to repay, refinance, equitize (in the case of our 0% Convertible Senior Notes due 2027 (the “2027 Notes”) that remain outstanding) and otherwise satisfy our obligations under each of the Loan and Security Agreement, the 2027 Notes that remain outstanding and our 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (the “2030 Notes” and, together with the 2027 Notes, the “Notes”) issued in the exchange offer related to the 2027 Notes, which was completed on October 30, 2025 (the “Exchange Offer”), and our ability to comply with the covenants in the Loan and Security Agreement and respective indentures governing the Notes; our ability to raise the funds necessary to repurchase the Notes for cash, under certain circumstances, or to pay any cash amounts due under the Notes; the impact of the Exchange Offer on future availability of our pre-change net operating loss carryforwards and other tax attributes to offset our future net taxable income; the annual limitations on utilization of any remaining operating loss and tax credit carryforwards due to ownership change limitations provided by the Internal Revenue Code and similar state tax provisions, and the outcomes of any related audits or examinations; the significant dilution to our stockholders that resulted from the Exchange Offer and the additional dilution that resulted and will continue to result if we continue to exchange any portion of our outstanding Notes for equity, issue shares of our common stock with respect to the 2030 Notes (including any 2030 Notes issued as payment-in-kind interest on such 2030 Notes), including in connection with conversions of the 2030 Notes at our option or at the option of holders, upon equitization of the 2030 Notes, as payment of accrued interest in the form of common stock or in payment of certain make-whole payments on the 2030 Notes, in each case pursuant to the terms of the 2030 Notes, or if the lenders under the Loan and Security Agreement exercise their related warrants to purchase shares of our common stock or if the holders of the Big Geyser, Inc. warrants exercise their related warrants to purchase shares of our common stock; provisions in the respective indentures governing the Notes and in the Loan and Security Agreement delaying or preventing an otherwise beneficial takeover of us; and any adverse impact on our reported financial condition and results from the accounting methods for the Notes; our ability to remediate the existing material weaknesses in our internal control over financial reporting and maintain effective internal control over financial reporting and disclosure controls and procedures; risks and uncertainties related to failures to maintain effective internal control over financial reporting, and related to the identification of errors in our previously issued financial statements, such as those disclosed and corrected in this release, and a potential need to restate financial statements in such instances; market price fluctuations in the price of our common stock, whether due to dilution, adverse business or financial performance or the perception of such adverse performance, failure to meet the Nasdaq continued listing requirement for minimum bid price or other Nasdaq listing requirements and the potential delisting of our common stock, or market and trading dynamics unrelated to our underlying business, operating and financial performance or prospects or macro or industry fundamentals which may not coincide in timing with the disclosure of news or developments by or affecting us, could cause the market price of our common stock to fluctuate dramatically or decline rapidly, regardless of any developments in our business or financial results; the impact of general economic conditions in the U.S. and international markets on us, our customers, our suppliers, our vendors and consumers, including concerns related to inflation, geopolitical and economic uncertainty and instability, a potential recession, the shutdown of the federal government including regulatory agencies, tariffs and trade wars, and the effects of those conditions on consumer spending; the impact of adverse and uncertain political conditions in the U.S. and international markets, such as greater restrictions on free trade through significant increases in tariffs on raw materials, ingredients, finished goods and other products and supplies imported into the United States and increased uncertainty surrounding international trade policy and regulations, trade wars, including through the implementation of retaliatory tariffs or related counter-measures, and the negative effects of anti-American sentiment, the conflict in the Middle East (including with Iran), as well as the impact of inflation and high interest rates on consumer behavior, including higher food, grocery, raw materials, transportation, energy, labor and fuel costs; risks and uncertainties related to identifying and executing our current and future cost-reduction initiatives, cost structure improvements, workforce reductions, executive leadership changes and other organizational changes, including realignment of reporting structures, and the timing and success of continuing to reduce operating expenses and achieving our profitability, cash flow and financial performance objectives; our ability to streamline operations and improve cost efficiencies, which could result in the contraction of our business and the continued implementation of significant cost cutting measures such as further downsizing, consolidating or exiting certain operations, including product lines, domestically and/or abroad; the timing and success of narrowing our commercial focus to certain anticipated growth opportunities; accelerating activities that prioritize gross margin expansion and cash generation, including as part of our review of our global operations initiated in 2023 (“Global Operations Review”); changes to our pricing architecture; cash-accretive inventory reduction initiatives; and further cost-reduction initiatives; our ability to successfully execute our Global Operations Review and any resulting strategic plans, including the exit or discontinuation of select product lines; the impact of non-cash charges such as provision for excess and obsolete inventory and potential additional impairment charges, write-offs, disposals and accelerated depreciation of fixed assets, and losses on sale and write-down of fixed assets and assets held for sale; further optimization of our manufacturing capacity and real estate footprint; workforce reductions; and the cessation of our operational activities in China in 2025; our ability to successfully execute the Transformation Office initiatives including, among other things, positioning the business for a more fundamental resizing of operating expenses, driving margin recovery, including through targeted investments in our facilities and supply chain cost reductions, reducing inventory and associated carrying costs through SKU rationalization and the discontinuation of certain product lines, and preserving cash and monetizing non-strategic or idle assets; our ability to meet our obligations under leases for our corporate offices, manufacturing facilities and warehouses, including matters relating to our Campus Headquarters including, without limitation, the ability to meet our obligations under our Campus Headquarters lease, as amended from time to time (the “Campus Lease”), the impact of workforce reductions or other cost-reduction initiatives on our space demands, the impact of the surrender of a portion of the existing premises, the impact of the sublease of a portion of the existing premises, other efforts to develop, repurpose or consolidate our use of our leased premises, and the timing and success of surrendering, subleasing, assigning or otherwise transferring, developing or repurposing the remaining used or excess leased space or negotiating additional partial lease terminations and/or subleases or other dispositions of our Campus Headquarters on terms advantageous to us or at all, including any additional impairment charges that may result, the amount of which could be material to our consolidated financial statements; reduced consumer confidence and changes in consumer spending, including spending to purchase our products, and negative trends in consumer purchasing patterns due to levels of consumers’ disposable income, credit availability and debt levels, and economic conditions, including due to potential recessionary and inflationary pressures, and geopolitical instability and wars; our inability to properly manage and ultimately sell our inventory in a timely manner, which has in the past and could in the future require us to sell our products through liquidation channels at lower prices, write-down or write-off excess or obsolete inventory, or increase inventory provision; ongoing and persistent declines in demand in the plant-based meat category and for our products, or strategic decisions that result in changes to our product portfolio, including the potential discontinuation of certain product lines through initiatives stemming from our transformation office and program or other strategic measures, which may require us to write-down or write-off excess or obsolete inventories; impairment charges, including due to any future changes in estimates, judgments or assumptions, failure to achieve forecasted operating results, due to weakness in the economic environment, demand for our products or other factors, changes in market conditions and declines in our publicly-quoted stock price and market capitalization, failure to sublease, assign or otherwise transfer any excess space or negotiate additional partial lease terminations and/or subleases or other dispositions of our Campus Headquarters or other facilities on terms advantageous to us or at all, and the cessation of our operational activities in China in 2025; our ability to accurately predict consumer taste preferences, trends and demand and successfully innovate, introduce and commercialize new products, including in new geographic markets; the effects of competitive activity from our market competitors, including through consolidation in the plant-based food industry or vertical consolidation of diversified food businesses with existing plant-based food businesses, and new market entrants, which may include companies with substantially greater financial resources than us; our ability to protect our brand against misinformation about our products and the plant-based meat category, real or perceived quality or health issues with our products, marketing campaigns aimed at generating negative publicity regarding our products and the plant-based meat category, including regarding the nutritional value of our products, and other issues that could adversely affect our brand and reputation; disruption to, and the impact of uncertainty in, our domestic and international supply chain, including labor shortages and disruption, shipping delays and disruption, the impact of tariffs on raw materials, ingredients, finished goods and other products and supplies imported into the U.S., and the impact of cyber incidents at suppliers and vendors; the impact of uncertainty as a result of doing business internationally, including as a result of the cessation of our operational activities in China in 2025; the volatility of or inability to access the capital markets, including due to macroeconomic factors, geopolitical tensions, trade policy uncertainty (including tariffs and retaliatory trade measures), or the outbreak or escalation of hostilities or war—for example, the ongoing war between Russia and Ukraine and the conflict in the Middle East (including with Iran), and their impacts on the surrounding areas and global economy; changes in the foodservice landscape, including the timing, success and level of marketing and other financial incentives to assist in the promotion of our products, our ability to maintain and grow market share and attract and retain new foodservice customers or retain existing foodservice customers, and our ability to introduce and sustain offering of our products on menus; the timing and success of distribution expansion and new product introductions, including the success of our DTC channel, and the timing and success of planned new products or recently launched products in increasing revenues and market share, including the success of our distribution partnership with Big Geyser for Beyond Immerse; our ability to differentiate and continuously create innovative products, respond to competitive innovation and achieve speed-to-market, including the timing and success of planned new products or recently launched products; the timing and success of strategic Quick Service Restaurant (“QSR”) partnership launches and limited time offerings resulting in permanent menu items and our ability to attract and retain QSR and other strategic customers; the outcomes of, and costs related to, legal or administrative proceedings, including any settlements, appeals from initial decisions or other developments in such proceedings, or new legal or administrative proceedings filed against us; foreign currency exchange rate fluctuations; the effectiveness of our business systems and processes; our estimates of the size of our market opportunities and ability to accurately forecast market conditions; our ability to effectively optimize our manufacturing and production capacity, and real estate footprint, including consolidating manufacturing facilities and production lines, exiting co-manufacturing arrangements or entering into new arrangements under terms that are ultimately beneficial to us and effectively managing capacity for specific products with shifts in demand; risks associated with underutilization of capacity which have in the past and could in the future give rise to increased cost of goods sold per pound, underutilization fees, termination fees and other costs to exit certain supply chain arrangements and product lines, and/or the write-down or write-off of certain equipment and other fixed assets and impairment charges, all of which could negatively impact gross margin, driving less leverage on fixed costs and delaying the speed at which cost savings initiatives positively impact our financial results; our ability to accurately forecast our future results of operations and financial goals or targets, including as a result of fluctuations in demand for our products and in the plant-based meat category generally, increased competition, the impact and success of launching new products and new channels, and the impact of broader macroeconomic conditions and market uncertainty; our ability to accurately forecast demand for our products and manage our inventory, including the impact of customer orders ahead of holidays and the timing of customer promotions, shelf reset activities, and price increases as a result of tariffs or otherwise; customer and distributor changes and buying patterns, such as reductions in targeted inventory levels; and supply chain and labor disruptions, including due to the impact of cyber incidents at suppliers and vendors; our operational effectiveness and ability to fulfill orders in full and on time; variations in product selling prices and costs, the timing and success of changes to our pricing architecture, our ability to pass on price increases in full or at all, including due to the impact of tariffs and macroeconomic conditions, and the mix of products sold; our ability to successfully enter new geographic markets, manage our international business and comply with any applicable laws and regulations, including risks associated with doing business in foreign countries, and our ability to comply with the U.S. Foreign Corrupt Practices Act or other anti-corruption laws; the effects of global outbreaks of pandemics, epidemics or other public health crises, or fear of such crises; our ability to attract, maintain and effectively expand our relationships with key strategic foodservice partners; our ability to attract and retain our suppliers, distributors, vendors, co-manufacturers and customers; our ability to procure sufficient high-quality raw materials at competitive prices to manufacture our products; the availability of pea and other proteins and avocado oil that meet our standards; our ability to diversify the protein sources and avocado oil sources used for our products; our ability to successfully execute our strategic initiatives; the volatility associated with ingredient, packaging, transportation and other input costs, including due to the impact of tariffs and rising energy and fuel costs; our ability to keep pace with technological changes impacting the development of our products and implementation of our business needs; significant disruption in, or breach in security of our or our suppliers’ or vendors’ information technology systems, including any inability to detect or timely report any cybersecurity incidents, and resultant interruptions in service and any related impact on our reputation, including data privacy, and any potential impact on our supply chain, including on customer demand, order fulfillment and lost sales, and the resulting timing and/or amount of net revenues recognized; the ability of our transportation providers to ship and deliver our products in a timely and cost-effective manner; senior management and key personnel changes, the attraction, training and retention of qualified employees and key personnel, and our ability to maintain our company culture; risks related to use of a professional employer organization to administer human resources, payroll and employee benefits functions for certain of our international employees, and use of certain third party service providers for the performance of several business operations including payroll, human capital, supply chain optimization, financial reporting and accounting, and certain other management services; the impact of potential workplace hazards; the effects of natural or man-made catastrophic or severe weather events, including events brought on by climate change, particularly involving our or any of our co-manufacturers’ manufacturing facilities, our suppliers’ facilities or any other vital aspects of our supply chain; accounting estimates based on judgment and assumptions that may differ from actual results; changes in laws and government regulation, and their enforcement, affecting our business, including the U.S. Food and Drug Administration (“FDA”) and the U.S. Federal Trade Commission governmental regulation, and state, local and foreign regulation; new or pending legislation, or changes in laws, regulations or policies of governmental agencies or regulators, both in the U.S. and abroad, affecting plant-based meat, the labeling, packaging or naming of our products, including requirements regarding nutrient content claims, our brand name or logo, or the definition of “ultraprocessed” foods or ingredients; the failure of acquisitions and other investments to be efficiently integrated and produce the results we anticipate; risks inherent in investment in real estate; adverse developments affecting the financial services industry, including the potential failure of financial institutions with which we have deposits or other business relationships; the financial condition of, and our relationships with our suppliers, vendors, co-manufacturers, distributors, retailers and foodservice customers, and their future decisions regarding their relationships with us; our ability and the ability of our suppliers, vendors and co-manufacturers to comply with food safety, environmental or other laws or regulations and the impact of any non-compliance on our operations, brand reputation and ability to fulfill orders in full and on time; seasonality, including increased levels of grilling activity and higher levels of purchasing by customers ahead of holidays, customer shelf reset activity and the timing of product restocking by our retail customers; the impact of increased scrutiny from a variety of stakeholders, institutional investors and governmental bodies on environmental, social and governance (“ESG”) practices; our suppliers’ and our co-manufacturers’ ability to protect our proprietary technology, intellectual property and trade secrets adequately; the impact of changes in tax laws; and the risks discussed in Part I, Item 1A, Risk Factors, included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on April 9, 2026, the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2026 to be filed with the SEC, and those discussed in other documents we file from time to time with the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Such forward-looking statements are made only as of the date of this release. Beyond Meat undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events, changes in assumptions or otherwise, except to the extent required by applicable laws. If the Company does update one or more forward-looking statements, no inference should be made that it will make additional updates with respect to those or other forward-looking statements. Non-GAAP Financial Measures The Company refers to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release, including: Adjusted loss from operations, Adjusted operating margin, Adjusted net loss, Adjusted net loss per diluted common share, Adjusted EBITDA and Adjusted EBITDA as a % of net revenues. See “Non-GAAP Financial Measures” below for additional information and reconciliations of such non-GAAP financial measures. Availability of Information on Beyond Meat’s Website and Social Media Channels Investors and others should note that Beyond Meat routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Beyond Meat Investor Relations website. The Company also intends to use certain social media channels as a means of disclosing information about it and its products to consumers, and its customers, investors and the public (e.g., @BeyondMeat on Facebook, Instagram, Threads and LinkedIn. The information posted on social media channels is not incorporated by reference in this press release or in any other report or document we file with the SEC. While not all of the information that the Company posts to the Beyond Meat Investor Relations website or to social media accounts is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Beyond Meat to review the information that it shares at the “Investors” link located at the bottom of the Company’s webpage at https://investors.beyondmeat.com/investor-relations and to sign up for and regularly follow the Company’s social media accounts. Users may automatically receive email alerts and other information about the Company when enrolling an email address by visiting “Request Email Alerts” in the “Investors” section of Beyond Meat’s website at https://investors.beyondmeat.com/investor-relations. Contacts Media:Shira [email protected] Investors:Raphael [email protected] Correction of Previously Issued Interim Unaudited Condensed Consolidated Financial Statements During the fourth quarter and full year 2025 financial close procedures, the Company identified errors in its previously issued interim unaudited condensed consolidated financial statements for the first three quarters of 2025 relating to (i) inventory valuation and (ii) debt issuance costs. The Company determined that the errors identified were immaterial to its previously issued interim unaudited condensed consolidated financial statements for the three and six months ended June 28, 2025 and has corrected these errors prospectively in the interim unaudited condensed consolidated financial statements for the three and six months ended June 28, 2025 in accordance with Accounting Standards Codification 250, “Accounting Changes and Error Corrections.” As a result, the comparative financial information for the three and six months ended June 28, 2025 included in the unaudited condensed consolidated financial statements and related non-GAAP reconciliations presented herein reflects these corrections and may differ from amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2025. To assist investors in reconciling amounts previously reported to the “as corrected” amounts presented herein, the Company has included the following tables that summarize the affected line items and totals. Readers should review these tables together with the discussion above, the unaudited condensed consolidated financial statements included herein, and the additional detail in the Company’s Quarterly Report on Form 10‑Q for the quarter ended June 27, 2026, when filed with the SEC. Non-GAAP Financial Measures Beyond Meat uses the non-GAAP financial measures set forth below in assessing its operating performance and in its financial communications. Management believes these non-GAAP financial measures provide useful additional information to investors about current trends in the Company's operations and are useful for period-over-period comparisons of operations. In addition, management uses these non-GAAP financial measures to assess operating performance and for business planning purposes. Management also believes these measures are widely used by investors, securities analysts, rating agencies and other parties in evaluating companies in the Company’s industry as a measure of its operational performance. These non-GAAP financial measures should not be considered in isolation or as substitutes for the comparable GAAP measures. In addition, these non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. “Adjusted loss from operations” is defined as loss from operations adjusted to exclude, when applicable, costs attributable to special items, which are those items deemed not to be reflective of the Company’s ongoing normal business activities. “Adjusted operating margin” is defined as Adjusted loss from operations divided by net revenues. “Adjusted net loss” is defined as net loss adjusted to exclude, when applicable, costs attributable to special items, which are those items deemed not to be reflective of the Company’s normal business activities. “Adjusted net loss per diluted common share” is defined as Adjusted net loss divided by the number of diluted common shares outstanding. The Company considers Adjusted loss from operations, Adjusted operating margin, Adjusted net loss and Adjusted net loss per diluted common share to be useful indicators of operating performance because excluding special items allows for period-over-period comparisons of its ongoing operations. Adjusted net loss per diluted common share is a performance measure and should not be used as a measure of liquidity. “Adjusted EBITDA” is defined as net income (loss) adjusted to exclude, when applicable, income tax expense (benefit), interest expense, depreciation and amortization expense, share-based compensation expense, non-cash charges related to the cessation of our operational activities in China, costs related to a partial lease termination of a portion of the Campus Headquarters, settlement related to dispute with former co-manufacturer, remeasurement of delayed draw term loan warrant liability, remeasurement of derivative liability, and Other, net, including interest income, gain on debt extinguishment, foreign currency transaction gains and losses, and the reclassification of cumulative foreign currency translation losses from accumulated other comprehensive loss to Other (expense) income, net upon the cessation of our operational activities in China. “Adjusted EBITDA as a % of net revenues” is defined as Adjusted EBITDA divided by net revenues. Our definition of Adjusted EBITDA has been updated from the definition used in our 2025 10-K to reflect the following changes: (i) we removed the adjustments for restructuring expenses, non-cash loss from impairment of long-lived assets and gain on debt restructuring, net of exchange fees, as these items related to transactions completed in 2025 and are not expected to recur in 2026; (ii) we removed litigation-related accruals as there were no such accruals in the three and six months ended June 27, 2026 and June 28, 2025; (iii) we removed accrued litigation settlement costs, as the class action settlement was finalized in 2025; (iv) we added settlement related to dispute with former co-manufacturer; and (v) we added gain on debt extinguishment to Other, net, to reflect gains arising from conversions of the 2030 Notes, in the three and six months ended June 27, 2026, and reclassification of cumulative foreign currency translation losses from accumulated other comprehensive loss to Other (expense) income, net upon the cessation of our operational activities in China. These definitional changes had no impact on previously reported Adjusted EBITDA for the comparative period presented, as there were no restructuring expenses, impairment charges, gain on debt restructuring, litigation-related accruals, accrued litigation settlement costs or gain on debt extinguishment in the three and six months ended June 28, 2025. There are a number of limitations related to the use of Adjusted EBITDA and Adjusted EBITDA as a % of net revenues rather than their most directly comparable GAAP measures. Some of these limitations are: Adjusted EBITDA excludes depreciation and amortization expense and, although these are non-cash expenses, the assets being depreciated may have to be replaced in the future increasing our cash requirements; Adjusted EBITDA does not reflect interest expense, or the cash required to service our debt, which reduces cash available to us; Adjusted EBITDA does not reflect income tax payments that reduce cash available to us; Adjusted EBITDA does not reflect share-based compensation expense and therefore does not include all of our compensation costs; Adjusted EBITDA excludes the SG&A decrease related to our settlement we received in a legal matter; Adjusted EBITDA does not reflect non-cash charges and reclassification of cumulative foreign currency translation losses from accumulated other comprehensive loss to earnings, related to the cessation of our operational activities in China; Adjusted EBITDA does not reflect certain cash costs related to a partial lease termination of a portion of the Campus Headquarters, which reduces cash available to us; Adjusted EBITDA does not reflect the non-cash impact of the gain on debt extinguishment; Adjusted EBITDA does not reflect the non-cash impact of the remeasurement of delayed draw term loan warrant liability; Adjusted EBITDA does not reflect the non-cash impact of the remeasurement of derivative liability; Adjusted EBITDA does not reflect Other, net, including interest income, gain on debt extinguishment and foreign currency transaction gains and losses, that may increase or decrease cash available to us; and other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. The following tables present the reconciliation of Adjusted loss from operations, Adjusted operating margin, Adjusted net loss and Adjusted net loss per common share to their most comparable GAAP measures, loss from operations, loss from operations as a % of net revenues, net income (loss) and net income (loss) per share available to common stockholders—basic, each as reported (unaudited): The following table presents the reconciliation of Adjusted EBITDA to its most comparable GAAP measure, net income (loss), as reported, for the respective periods presented (unaudited) (in thousands, except for percentages): _____________ ____________________ 1 This release includes references to non-GAAP financial measures. Refer to “Non-GAAP Financial Measures” later in this release for the definitions of the non-GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures.

Choosing between Beyond Meat (NASDAQ:BYND) and Shopify (NASDAQ:SHOP) requires balancing a potential turnaround story against an established leader in the digital economy. Each company faces distinct hurdles as consumer habits evolve. Beyond Meat focuses on disrupting the meat industry with plant-based alternatives, while Shopify provides the critical software infrastructure for millions of modern businesses. This comparison looks at which business model offers more stability and potential value for your portfolio. Beyond Meat produces plant-based protein products that mimic the taste and texture of animal meat, selling through both retail and foodservice channels. Its flagship Beyond Burger remains a central driver, accounting for approximately 50% of its gross revenues. Customer concentration adds a layer of risk to the business, as the distributor DOT represented nearly 13% of gross revenues as of late 2025. In FY 2025, revenue reached roughly $275.5 million, representing a decline of close to 15.6% compared to the previous year. Despite the drop in sales, the company reported net income of approximately $219.9 million for the period. This resulted in a net margin of nearly 79.8%, which measures how much of each dollar in sales is kept as profit after all expenses are paid. As of its December 2025 balance sheet, the debt-to-equity ratio was -4576.3x, indicating that total liabilities significantly exceed shareholder equity. The current ratio, which measures the ability to pay short-term obligations with short-term assets, was approximately 4.6x. Free cash flow, the cash remaining after a company pays for its operations and capital equipment, was negative $172.8 million. Shopify provides a comprehensive commerce platform that allows merchants of all sizes to manage their online and physical stores. The company serves millions of businesses globally, and no single merchant represents more than 5% of its total revenue. Shopify has established itself as a cornerstone among tech stocks by partnering with major payment processors and cloud providers. In FY 2025, revenue reached nearly $11.6 billion, marking a significant growth rate of approximately 30.1%. Net income for the year was roughly $1.2 billion, resulting in a net margin of close to 10.7%. This growth highlights the company's ability to scale its software services while maintaining profitability in a competitive digital landscape. As of its December 2025 balance sheet, the company maintained a debt-to-equity ratio of 0.0x, showing it carries no debt relative to its equity. The current ratio was approximately 6.0x, indicating a strong position to cover near-term liabilities. Free cash flow was close to $2.0 billion, though stock-based compensation represented roughly 22.1% of operating cash flow, which inflates reported cash generation since it is a non-cash expense. Beyond Meat faces persistent weakness in the plant-based meat category, particularly in refrigerated products, which has led to lower sales volumes. The company is also navigating significant legal risks, including a 2025 jury verdict awarding $38.9 million in a trademark case and an ongoing securities class action. Furthermore, its reliance on a limited number of suppliers for ingredients like pea protein makes it vulnerable to price spikes and supply chain disruptions. Shopify operates in a crowded market where it must constantly innovate with artificial intelligence to compete against large technology platforms like Amazon and Alphabet. The company faces various legal challenges, including wiretapping class-action lawsuits and claims related to its platform monitoring. Additionally, Shopify is highly dependent on third-party developers to maintain its app ecosystem, and any friction in those relationships could hurt the platform's utility for merchants. Shopify commands a premium valuation based on its high growth and profitability, while Beyond Meat has a lower sales multiple but faces significant financial instability. Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers. It can be helpful to compare the valuations of stocks as you make investing decisions. But it’s also important to remember that low valuation multiples don’t always indicate a bargain, and high multiples aren’t always a trap. Shopify is in a much better financial position than Beyond Meat. It’s exhibiting rapid revenue growth and holds very little debt on its balance sheet. Its high forward P/E likely reflects the market’s expectations of continued revenue growth, and perhaps a bit of risk as Shopify continues to carve out a niche against larger competitors. Shopify released its second-quarter earnings results in the morning of Aug. 5, highlighting 34% revenue growth and 18% free-cash-flow margins. “We power every kind of business, and with AI, we’re expanding what’s possible for all of them,” Harley Finkelstein, President of Shopify, said in the earnings release. “No one else comes close.” Beyond Meat isn’t profitable, its revenue is declining, and its core product just doesn’t have the same potential reach as Shopify’s, at any price. I don’t see this as an undervalued opportunity, nor a turnaround play. The company reports second-quarter earnings results after market close on Aug. 5. After revenue declined again in Q1, primarily due to a decrease in the volume of products sold, investors will be watching for any signs of increased adoption. Before you buy stock in Beyond Meat, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Beyond Meat wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $395,463!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,268,290!* Now, it’s worth noting Stock Advisor’s total average return is 927% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 5, 2026. Sarah Sidlow has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Amazon, Beyond Meat, and Shopify. The Motley Fool has a disclosure policy. Beyond Meat and Shopify Report Earnings on Aug. 5: Which Consumer Goods Stock Is a Better Buy? was originally published by The Motley Fool

Interested in Beyond Meat, Inc.? Here are five stocks we like better. Revenue beat guidance but remained under pressure: Second-quarter revenue fell 8.2% year over year to $68.8 million, exceeding the company’s $60 million–$65 million forecast. International retail growth rose 16.5%, partially offsetting declines in U.S. retail and food-service channels. Profit included a significant debt-related gain: Gross margin improved sequentially to 8.5%, while operating expenses declined 19%. Beyond Meat reported net income of $16.4 million, helped by a $57.7 million non-cash gain on debt extinguishment, while adjusted EBITDA remained negative at $27.7 million. Turnaround efforts focus on international growth, new products and cost control: Management is prioritizing Europe and Canada, expanding into nutrition products such as the Beyond Immerse beverage, and pursuing production, logistics and warehouse efficiencies. Third-quarter revenue guidance remains approximately $60 million to $65 million. Avis Short Squeeze Shocked the Market: Are These 3 Stocks Next? Beyond Meat (NASDAQ:BYND) reported second-quarter 2026 revenue above its guidance range as international retail growth partially offset continued weakness in U.S. channels and international food service. Management said the company is pursuing a turnaround centered on expanding in Europe and Canada, entering adjacent nutrition categories, and improving operating efficiency. Net revenue fell 8.2% year over year to $68.8 million, exceeding the high end of the company’s $60 million to $65 million guidance range. The decline marked an improvement from revenue decreases of 15.3% in the first quarter and 19.7% in the fourth quarter of 2025, according to Founder, President and CEO Ethan Brown. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Is Beyond Meat Beyond Hope? A Deep Read On Its Price Outlook “All in a quarter of positive momentum with substantial ground still to cover,” Brown said. The revenue decline reflected a 9.5% decrease in product volume, partly offset by a 1.4% increase in net revenue per pound. CFO and Treasurer Lubi Kutua said the largest pressure continued to come from food-service channels in the U.S. and abroad, while retail trends, particularly internationally, showed more encouraging improvement. U.S. retail revenue declined 9.9% to $29.6 million, with volume down 5.7% amid category softness and reduced distribution points. U.S. food-service revenue fell 27.6% to $8 million, driven primarily by a 27.4% drop in volume. International retail revenue increased 16.5% to $18.5 million, supported by higher burger and chicken sales in Europe and increased ground-beef product sales in Canada. International food-service revenue declined 16% to $12.7 million, reflecting lower sales of burger and chicken products to certain quick-service restaurant customers in Europe and Canada. → 3 Drone Stocks That Should Soar After the Summer Slump Is Beyond Meat a Buy After Meme Stock Surge? Analysts Say No Brown said Europe and Canada represent the company’s clearest near-term growth opportunities. He attributed stronger European results in part to consumer concern about climate issues and said the company faces less of what he characterized as misinformation from incumbent meat-industry campaigns than it does in the U.S. In the U.S., Brown said certain accounts have shown resilience for the company’s burger, ground beef and dinner sausage products, though conditions vary by retailer. Some distribution losses related to packaging changes are expected to be transitory, Kutua said, while broader category softness remains a challenge. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Beyond Meat posted gross profit of $5.9 million, equivalent to an 8.5% gross margin, compared with gross profit of $7.9 million and a 10.6% margin a year earlier. Brown said the margin was roughly five and six percentage points better than the first quarter of 2026 and fourth quarter of 2025, respectively. Second-quarter gross profit included $1.6 million in expenses related to the cessation of operations in China. Brown said this was the final quarter affected by accelerated depreciation associated with the China exit, which reduced margin by more than two percentage points. Operating expenses fell 19% year over year to $36.7 million. They included $4.7 million in incremental share-based compensation expense tied to a convertible debt exchange, as well as an $11 million credit associated with the settlement of arbitration involving a former co-manufacturer. Loss from operations narrowed to $30.8 million from $37.5 million a year earlier. The company recorded net income of $16.4 million, or $0.03 per basic share, compared with a net loss of $31.8 million, or $0.42 per share, in the prior-year period. The result included a $57.7 million non-cash gain on debt extinguishment. Adjusted EBITDA was a loss of $27.7 million, compared with an adjusted EBITDA loss of $24.7 million in the prior-year quarter. Brown outlined three strategic priorities: investing in growth in Europe and Canada while stabilizing the U.S. business; broadening the company beyond plant-based meat into nutrition-focused categories; and improving unit economics, fixed-cost absorption and cash use. In U.S. retail, the company introduced Beyond Steak Filet at Wegmans and H-E-B in July, followed by Meijer, with additional retailers expected. It also expanded Beyond Chicken Pieces Spicy Buffalo to more than 2,000 Kroger stores and launched new Beyond Breakfast Sausage links and patties at Kroger, Sprouts and Whole Foods Market. Beyond Meat also introduced Beyond Immerse, a lightly carbonated functional beverage, through its direct-to-consumer Beyond Test Kitchen platform and later through distributor Big Geyser in New York. Brown said the beverage combines plant protein, fiber, antioxidants and electrolytes, representing the company’s first launch under its expanded nutrition strategy. On costs, management cited production-network consolidation, material contract renegotiations, warehouse consolidation, lower logistics expense and exits from less-profitable product lines. The company is also completing trials of a continuous production line at its Columbia, Missouri, facility, which Brown said is expected to improve conversion costs as volume increases. Kutua said higher volumes remain important to improving fixed-cost absorption. He added that the company has seen some input-cost inflation but does not expect ingredient inflation to be excessively high this year, while warehouse consolidation has helped offset transportation volatility. Cash and cash equivalents, including restricted cash, totaled $186.1 million as of June 27. The carrying value of debt, net of debt discount, was $323.8 million. Net cash used in operating activities during the first six months of 2026 was $23.2 million, compared with $58 million in the prior-year period. Capital expenditures were $4 million, down from $6.4 million. Brown said quarterly cash consumption excluding financing activities was approximately $18 million, down 44% from the year-ago period. For the third quarter, Beyond Meat expects net revenue of approximately $60 million to $65 million. Kutua said the company continues to provide limited revenue guidance because of uncertainty and volatility in its operating environment. Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat's mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint. The company's product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Beyond Meat Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Plant-based protein company Beyond Meat (NASDAQ:BYND) beat Wall Street’s revenue expectations in Q2 CY2026, but sales fell by 8.2% year on year to $68.83 million. On top of that, next quarter’s revenue guidance ($62.5 million at the midpoint) was surprisingly good and 4.9% above what analysts were expecting. Its non-GAAP loss of $0.09 per share was 13.3% below analysts’ consensus estimates. Is now the time to buy Beyond Meat? Find out in our full research report. Revenue: $68.83 million vs analyst estimates of $60.77 million (8.2% year-on-year decline, 13.3% beat) Adjusted EPS: -$0.09 vs analyst expectations of -$0.08 (13.3% miss) Adjusted EBITDA: -$27.7 million (-40.2% margin, 25.2% year-on-year decline) Revenue Guidance for Q3 CY2026 is $62.5 million at the midpoint, above analyst estimates of $59.58 million Operating Margin: -44.8%, up from -50% in the same quarter last year Free Cash Flow was -$19.62 million compared to -$33.77 million in the same quarter last year Sales Volumes fell 9.5% year on year (-18.9% in the same quarter last year) Market Capitalization: $326.6 million A pioneer at the forefront of the plant-based protein revolution, Beyond Meat (NASDAQ:BYND) is a food company specializing in alternatives to traditional meat products. A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With $258.8 million in revenue over the past 12 months, Beyond Meat is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers. As you can see below, Beyond Meat’s revenue declined by 10.1% per year over the last three years as consumers bought less of its products. This quarter, Beyond Meat’s revenue fell by 8.2% year on year to $68.83 million but beat Wall Street’s estimates by 13.3%. Company management is currently guiding for a 11% year-on-year decline in sales next quarter. Looking further ahead, sell-side analysts expect revenue to decline by 11% over the next 12 months, similar to its three-year rate. This projection is underwhelming and indicates its newer products will not catalyze better top-line performance yet. ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all. Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE. Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there’s a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive. Beyond Meat’s average quarterly sales volumes have shrunk by 14.3% over the last two years. This decrease isn’t ideal because the quantity demanded for consumer staples products is typically stable. In Beyond Meat’s Q2 2026, sales volumes dropped 9.5% year on year. This result represents a further deceleration from its historical levels, showing the business is struggling to move its products. We were impressed by how significantly Beyond Meat blew past analysts’ revenue expectations this quarter. We were also glad its revenue guidance for next quarter exceeded Wall Street’s estimates. On the other hand, its EBITDA missed and its EPS fell short of Wall Street’s estimates. Overall, this was a softer quarter. The stock traded up 1.8% to $0.63 immediately following the results. Is Beyond Meat an attractive investment opportunity right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free.

Interested in Pilgrim's Pride Corporation? Here are five stocks we like better. Second-quarter results weakened significantly: Net revenue fell to $4.63 billion from $4.76 billion, while adjusted EBITDA dropped to $360 million from $686.9 million as higher U.S. chicken supply and lower commodity pricing compressed margins. U.S. demand and branded products remained strong: Retail and foodservice chicken volumes grew, prepared-foods volumes rose nearly 14%, and Just Bare sales increased more than 30% to nearly 15% share of frozen fully cooked chicken. Regional and financial pressures persisted: Mexico EBITDA declined sharply amid excess protein supply, while the company recorded $136 million in legal settlement expenses; Pilgrim’s Pride nevertheless reduced debt through a $250 million bond tender offer and maintained its roughly $900 million full-year capital-spending plan. Seize the Opportunity: Beyond Meat’s New Steak Could Spark Growth Pilgrim's Pride (NASDAQ:PPC) reported second-quarter 2026 net revenue of $4.63 billion and adjusted EBITDA of $360 million, as higher chicken supply and lower commodity pricing weighed on results despite continued demand growth in retail and foodservice channels. Adjusted EBITDA margin was 7.8%, down from 14.4% a year earlier. Revenue declined from $4.76 billion in the prior-year quarter, while adjusted EBITDA fell from $686.9 million. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Beyond Meat Forecast: Is There Any Hope Left for This Stock? President and CEO Fabio Sandri said chicken remained an affordable protein option for consumers facing inflation and elevated energy prices. However, a 4.5% year-over-year increase in U.S. ready-to-cook chicken production during the quarter exceeded demand growth and led to counterseasonal declines in commodity chicken cutout values. Pilgrim's Pride's U.S. business generated $2.65 billion in revenue, compared with $2.82 billion a year earlier. Adjusted EBITDA in the segment totaled $231.5 million, down from $482.7 million, and the adjusted EBITDA margin declined to 8.7% from 17.1%. → 3 Value ETFs to Consider as Growth Stocks Lag Behind Analysts Agree, This Could Be Tyson Stock’s Comeback Year Chief Financial Officer Matt Galvanoni said the U.S. margin decline was primarily driven by a 27% decrease in the jumbo cutout value. Still, U.S. margins improved sequentially as plant upgrades were completed and live operations improved following significant downtime in the first quarter. Sandri said the U.S. industry benefited from improved bird livability during the second quarter, contributing more than one percentage point of the increase in supply. The company expects production growth to moderate in the second half as the impact from improved livability fades and warmer weather affects bird growth. The USDA expects supply to increase about 2.5% in the third and fourth quarters, according to Sandri. → 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? He also said seasonal production cuts are typical during the late summer and fall, when chicken demand is generally softer around Thanksgiving and other seasonal events. Pilgrim's Pride said it will continue to align production with demand from key customers. Demand trends remained favorable, according to management. The company cited growth in chicken volumes in both retail and foodservice, with quick-service restaurants and non-commercial foodservice channels showing particular strength. Sandri said chicken menu penetration continued to rise as restaurants used the protein in promotional offerings designed to attract traffic. Pilgrim's Pride said its U.S. prepared-foods volumes increased nearly 14% from a year earlier. Retail sales of its Just Bare brand rose more than 30%, or roughly six times the frozen fully cooked category average, management said. Just Bare reached nearly 15% market share and became the second-largest brand in frozen fully cooked chicken, according to the company. The company has been investing to supply more prepared-foods production internally, including adding dark-meat deboning and portioning equipment at big-bird plants. Sandri said internal transfers to prepared foods are based on market prices, while the broader portfolio benefits from growing branded and value-added products that can help offset volatility in commodity markets. Pilgrim's Pride completed its conversion of the Russellville plant to a case-ready operation during the quarter. It also announced investments in Ellijay, Georgia, to expand small-bird production and deboning capacity to support demand for boneless chicken, sandwiches and tenders. The company's Walker County, Georgia, prepared-foods facility remains on track for commissioning in the second half of 2027. In Europe, adjusted EBITDA was $105.8 million, compared with $111.8 million a year ago, while the adjusted EBITDA margin was 7.6%, down from 8.2%. Management said poultry and meal offerings performed well as consumers sought affordable and convenient food options. European pork margins were pressured by increased pork imports into the U.K., higher costs associated with the Middle East conflict and weaker foodservice traffic. Sandri said lower European exports to China had contributed to additional pork supply from countries including Spain and Denmark entering the U.K. market. He said herd reductions elsewhere in Europe could eventually support pricing. Mexico generated adjusted EBITDA of $22.6 million, down from $92.3 million in the prior-year period, with margin declining to 3.9% from 16.3%. The company said unusually favorable growing conditions increased chicken supply, while expanded domestic egg production and pork imports added to overall protein availability. Despite those pressures, Sandri said Mexican demand remained strong enough to absorb the added supply. Pilgrim's Pride reported that retail-branded fresh-product volumes in Mexico increased more than 30%, while Just Bare volumes rose more than two-and-a-half times from a year earlier. On a GAAP basis, Pilgrim's Pride recorded $136 million in legal settlement expenses, mainly related to settlements with certain parties in ongoing broiler litigation. The company also recorded a $26 million charge primarily associated with an asset impairment tied to the planned shutdown of its Chattanooga harvesting facility. During the quarter, Pilgrim's Pride completed a $250 million tender offer for its 2033 bonds. Net debt was below $2.5 billion at quarter-end, with leverage at 1.43 times last-12-month adjusted EBITDA. The company reported nearly $1.6 billion of cash and available credit. Capital expenditures totaled $230 million in the second quarter, bringing year-to-date spending to $465 million. Galvanoni reaffirmed full-year capital expenditure expectations of about $900 million and said the company expects full-year net interest expense, excluding the impact of early debt extinguishment, to be approximately $115 million to $120 million. Pilgrim's Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim's Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets. The company's vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Pilgrim's Pride Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Pilgrim's Pride (PPC) came out with quarterly earnings of $0.64 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $1.7 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -14.67%. A quarter ago, it was expected that this poultry producer would post earnings of $0.69 per share when it actually produced earnings of $0.51, delivering a surprise of -26.09%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Pilgrim's Pride, which belongs to the Zacks Food - Meat Products industry, posted revenues of $4.63 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 5.59%. This compares to year-ago revenues of $4.76 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Pilgrim's Pride shares have lost about 23.6% since the beginning of the year versus the S&P 500's gain of 8.5%. While Pilgrim's Pride has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Pilgrim's Pride was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.12 on $4.6 billion in revenues for the coming quarter and $3.01 on $18.7 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the bottom 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Beyond Meat (BYND), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This plant-based meat company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +81.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Beyond Meat's revenues are expected to be $62.5 million, down 16.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report Beyond Meat, Inc. (BYND) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research