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Beyond Meat shares recover as restaurant sales rise

27 May 2021
2 min.
Beyond Meat shares recover as restaurant sales rise

Shares rebound

Shares in veggie producer Beyond Meat (BYND) have risen 12.45% in the past two trading days, continuing a 1.5% rise before the start of trading on Wednesday.

Shares have recovered slightly from a one-year low of $101.66 on 13 May, but Beyond Meat's share price is still 4.3% lower than at the start of 2021.

Beyond Meat's business suffered badly during the pandemic as the company was focused on sales in cafes and fast-food restaurants where consumers are more likely to buy novelty items.

The shift to retailer sales increased Beyond Meat's losses as the company had to spend more on packaging and lower prices.

Nevertheless, Beyond Meat has not stopped investing in business expansion and has achieved significant successes despite the crisis in the restaurant sector:

  • won long-awaited multi-year contracts with McDonald's (MCD) and Yum Brands (which owns brands such as KFC, Taco Bell and Pizza Hut,);
  • Expanded to 28,000 outlets in over 80 countries;
  • opened its first plant outside the US near Shanghai;
  • commenced construction of a plant in the Netherlands, due to begin operations this year;
  • launched new products with lower fat content.

Although the last three quarters Beyond Meat has posted growing losses and revenues below Wall Street expectations, sales in each of the last three quarters have grown both sequentially and compared to the same quarters a year earlier.

In the first quarter of 2021, Beyond Meat's revenues were up 11% compared with the first quarter of 2020, indicating that the company continued to grow sales despite the recession, which is a good signal for investors. As economies recover and the restaurant industry in particular, Beyond Meat's sales should continue to grow.

The new plants will strengthen the company's position in China and Europe, allowing prices to fall there.

Beyond's global partnership with McDonald's should also have a significant impact on sales growth in the coming quarters.

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