Beyond Meat Inc, a maker of plant-based burgers and sausages, said it expects to...
- Beyond Meat Inc, a maker of plant-based burgers and sausages, said it expects to more than double its revenue and report breakeven EBITDA this year, sending the its shares up over 21 percent.
Analysts on average forecast full-year sales of $205 million, and a loss, before interest, tax, depreciation and amortization, of $10.28 million, according to Refinitiv IBES data. Beyond Meat’s sales have increased five-fold since it began selling its flagship Beyond Burger in 2016.“We are very conservative and view this as a floor,” Chief Executive Officer Ethan Brown said on a conference call when asked about the revenue forecast. The company does not count customers who are using its products as a part of a testing project.
Beyond Meat, whose rivals include U.S.-based Impossible Foods, is likely to face increasing competition in the niche market as companies like Nestlé and Tyson Foods ready their own line of products.
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