Publicado: Lun, Junio 10, 2019
Salud | Por Gertrudes Rodriquez

Beyond Meat Sales Go Beyond Estimates in Q1

Beyond Meat Sales Go Beyond Estimates in Q1

Shares of Beyond Meat Inc. surged 27 per cent on Friday after the vegan burger maker forecast that sales would more than double over all in 2019 after they tripled in the first quarter.

Beyond Meat's imitation meat patties and sausages made from ingredients like pea protein, coconut and canola oil, while a great alternative for consumers conscious of the environment, still needs to put in the work to get more takers as they cost much more than beef burgers. To boost supply, it is adding a third shift of workers and installing a second production line at its manufacturing plant in Oakland, California.

Burger King is rolling out a Whopper made with Impossible Foods' plant-based burger to its 7,200 us stores this year, after it saw robust demand in a test market. Analysts are expecting revenue of United States dollars 205 Million.

"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.

Beyond Meat posted a $10.8 million quarterly profit in its first earnings report since going public last month.

Burger King saw sales grow 28% at its St. Louis market in April after it started selling the Impossible Whopper there, according to data from Technomic Transaction Insights.

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During its latest quarter, Beyond Meat said sales to restaurants and foodservice such as Del Taco and Carl's Jr. spiked 491% to $20.6 million, while retail growth was 110.8% to $19.6 million.

Marketing its burger as one created to look, cook and taste like traditional ground beef, Beyond Meat targets mainstream consumers who want to reduce their meat consumption amid growing concerns over health risks, animal welfare and environmental hazards of industrial animal farming. Tyson Foods, which sold its minority stake in Beyond Meat shortly before its recent IPO, announced that it is launching its own meatless products this summer.

The plant-based meat market is expanding at an impressive clip. Sales were about evenly split between groceries and restaurants.

Brown said the company is in the testing phase with several fast-food chains, but he wouldn't say which ones.

The growing popularity has tested companies' ability to manufacture the product.

In particular, investors will look for details about Beyond Meat's expansion plans in Europe, where it launched its business less than a year ago, and a multi-year brand awareness campaign in Hong Kong, it revealed in the IPO filing, as well as revenue guidance for the rest of 2019. Euromonitor predicts the market for plant-based meat substitutes will reach $2.5 billion by 2023. Euromonitor estimates the market for plant-based meat substitutes was $1.44 billion past year and will grow to $2.50 billion by 2023.

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