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May 12, 2025 Source: Beyond Meat news release EL SEGUNDO, Calif. -- Beyond Meat, Inc. (NASDAQ: BYND) ("Beyond Meat" or the "Company"), a leader in plant-based meat, today reported financial results for its first quarter ended March 29, 2025. The Company also announced a $100 million new senior secured financing. First Quarter 2025 Net revenues decreased 9.1% to $68.7 million in the first quarter of 2025, compared to $75.6 million in the year-ago period. The decrease in net revenues was primarily driven by an 11.2% decrease in volume of products sold, partially offset by a 2.4% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand in the U.S. retail and foodservice channels, which management believes was exacerbated by economic uncertainty and other macroeconomic trends during the quarter. The increase in net revenue per pound was primarily driven by lower trade discounts and price increases of certain of our products, partially offset by changes in product sales mix and unfavorable changes in foreign currency exchange rates. U.S. retail channel net revenues decreased 15.4% to $31.4 million in the first quarter of 2025, compared to $37.1 million in the year-ago period. The decrease in net revenues was primarily driven by a 23.2% decrease in volume of products sold, partially offset by a 10.0% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand. The increase in net revenue per pound was primarily driven by lower trade discounts and price increases of certain of our products, partially offset by changes in product sales mix. U.S. retail channel net revenues included no ingredient sales in the quarter, compared to $1.6 million from ingredient sales in the year-ago period. U.S. foodservice channel net revenues decreased 23.5% to $9.4 million in the first quarter of 2025, compared to $12.3 million in the year-ago period. The decrease in net revenues was primarily driven by a 22.0% decrease in volume of products sold, and a 2.0% decrease in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand and lower burger sales to a Quick Service Restaurant ("QSR") customer. The decrease in net revenue per pound was primarily driven by higher trade discounts and changes in product sales mix, partially offset by price increases of certain of our products. International retail channel net revenues increased 0.8% to $12.7 million in the first quarter of 2025, compared to $12.6 million in the year-ago period. The increase in net revenues was primarily driven by a 10.3% increase in net revenue per pound, partially offset by an 8.6% decrease in volume of products sold. The increase in net revenue per pound was primarily driven by changes in product sales mix and lower trade discounts, partially offset by unfavorable changes in foreign currency exchange rates and price decreases of certain of our products. The decrease in volume of products sold was primarily due to lower sales of the Company's ground beef products. International foodservice channel net revenues increased 12.1% to $15.3 million in the first quarter of 2025, compared to $13.6 million in the year-ago period. The increase in net revenues was primarily driven by a 13.5% increase in volume of products sold, partially offset by a 1.2% decrease in net revenue per pound. The increase in volume of products sold was primarily due to increased sales of chicken products to a QSR customer. The decrease in net revenue per pound was primarily driven by changes in product sales mix and unfavorable changes in foreign currency exchange rates, partially offset by lower trade discounts and price increases of certain of our products. To read the entire report click here. Tweet |
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