Shares of Beyond Meat surge by 141%, 2020 forecast withdrawn due to COVID-19

Source: Pexels | Author: Elle Hughes

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At a time when Berkshire Hathaway posts a record net loss of nearly $50 billion due to the virus outbreak, the plant-based meat producer sits at the very opposite spectrum, reporting a massive year-over-year revenue increase for its first quarter.

The Los Angeles-based company beat Wall Street expectations by generating a net income of $1.8 million, or 3 cents per share. In contrast, the company ended its first fiscal quarter of 2019 with a net loss of $6.6 million, or a loss of 95 cents per share.

Beyond Meat’s total revenue for the period skyrocketed to $97.1 million (a 141% increase), which also greatly surpassed analysts’ expectations of $88.3 million. Following the news, the food producer’s shares rose by 5% on Tuesday during after-hours trading.


“I am proud of our first-quarter financial results, which exceeded our expectations despite an increasingly challenging operating environment due to the COVID-19 health crisis.”

 CEO Ethan Brown


At the same time, the company followed the steps of many of its competitors and retracted its previous 2020 forecast due to ”the magnitude and duration of the [COVID-19] impact to the foodservice channel, in particular”. Beyond Meat had previously warned investors that its sales had declined significantly by the end of March as the company closed several of its restaurants in the United States.

Beyond Meat is already taking measures to cushion the economic blow, announcing in the meantime that it has about $246.4 million in cash on hand and an outstanding debt of around $30.6 million.

Upcoming earnings reports

See the full list of upcoming earnings reports for 11 – 15 May in the tables below.

Monday, 11 May 2020

Country of originCompany nameFiscal period
ChinaTencent Music Entertainment GroupFirst quarter of 2020
SpainIndra Sistemas SAFirst quarter of 2020
SpainObrascon Huarte Lain SAFirst quarter of 2020
United KingdomMylan NVFirst quarter of 2020
USACardinal Health IncThird quarter of 2020
USAEntergy CorpFirst quarter of 2020
USAMarriott International IncFirst quarter of 2020
United KingdomGW Pharmaceuticals Plc
First quarter of 2020
United KingdomEdinburgh Investment Trust PlcFull year 2019
ItalyFinecoBank Banca Fineco SpAFirst quarter of 2020
USAUnder Armour IncFirst quarter of 2020
NetherlandsOCI NVFirst quarter of 2020
GermanyOsram Licht AGSecond quarter of 2020
GermanyHenkel AG & Co KgaAFirst quarter of 2020
GermanyK&S AGFirst quarter of 2020

Tuesday, 12 May 2020

Country of originCompany nameFiscal period
USADuke Energy CorpFirst quarter of 2020
ItalyMediaset SpAFirst quarter of 2020
United KingdomVodafone Group PlcFull year 2020
United KingdomLand Securities Group PlcFull year 2020
GermanyAareal Bank AGFirst quarter of 2020
GermanyThyssenkrupp AGHalf year
GermanyHochtief AGFirst quarter of 2020
GermanyPorsche Automobil Holding SEFirst quarter of 2020
JapanHonda Motor Co LtdFull year 2020
JapanNEC CorpFull year 2020
FranceAlstom SAFull year 2020
GermanyE.ON SEFirst quarter of 2020
The NetherlandsAegon NVFirst quarter of 2020
GermanyAllianz SEFirst quarter of 2020
GermanyDeutsche Post AGFirst quarter of 2020
JapanToyota Motor CorpFull year 2020

Wednesday, 13 May 2020

Country of originCompany nameFiscal period
FranceVallourec SAFirst quarter of 2020
ChinaAlibaba Group Holding LtdFull year 2020
ItalyTerna Rete Elettrica Nazionale SpAFirst quarter of 2020
United KingdomSage Group PlcHalf year 2020
Germany1&1 Drillisch AGFirst quarter of 2020
GermanyJenoptik AGFirst quarter of 2020
GermanyCommerzbank AGFirst quarter of 2020
GermanyLeoni AGFirst quarter of 2020
United KingdomMarston's Plc
Half year 2020
JapanSony CorpFull year 2020
GermanySalzgitter AGFirst quarter of 2020
NorwayTGS NOPEC Geophysical Company ASAFirst quarter of 2020
GermanyTui AGHalf year 2020
The NetherlandsABN Amro Bank NVFirst quarter of 2020
NorwayMowi ASAFirst quarter of 2020

Thursday, 14 May 2020

Country of originCompany nameFiscal period
BrazilPetroleo Brasileiro SA PetrobrasFirst quarter of 2020
United KingdomManchester United PlcThird quarter of 2020
JapanKajima CorpFull year 2020
USAApplied Materials IncSecond quarter of 2020
ChinaBaidu IncFirst quarter of 2020
United KingdomScottish Mortgage Investment Trust PlcFull year 2019
United Kingdom3i Group Plc
Full year 2020
GermanyDuerr AGFirst quarter of 2020
GermanySuedzucker AGFourth quarter of 2020
GermanyDeutsche Telekom AGFirst quarter of 2020
GermanyEvotec SEFirst quarter of 2020
GermanySGL Carbon SEFirst quarter of 2020
JapanDeNA Co LtdFull year 2020
United KingdomGrainger Plc
Half year 2020
United KingdomWH Smith Plc
Half year 2020
JapanFujitsu LtdFull year 2020
JapanMazda Motor CorpFull year 2020
AustriaRaiffeisen Bank International AGFirst quarter of 2020
GermanyBilfinger SEFirst quarter of 2020
AustriaWienerberger AGFirst quarter of 2020
FranceBouygues SAFirst quarter of 2020
GermanyCeconomy AGSecond quarter of 2020
GermanyRWE AGFirst quarter of 2020
BelgiumKBC Groep NVFirst quarter of 2020
GermanyMerck KGaAFirst quarter of 2020
SwitzerlandZurich Insurance Group AGFirst quarter of 2020
USACisco Systems IncThird quarter of 2020

Friday, 15 May 2020

Country of originCompany nameFiscal period IncFirst quarter of 2020
JapanTokyo Electric Power Company Holdings IncFull year 2020
GermanyGEA Group AGFirst quarter of 2020
SwitzerlandCompagnie Financiere Richemont SAFull year 2020
GermanyAurubis AGSecond quarter of 2020


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