Beyond Meat Expects Q2 Net Revenues Of $85M-$90M (Est $96.223M), Reaffirms FY24 Outlook Of $315M-$345M (Est $329.636M)
Portfolio Pulse from Benzinga Newsdesk
Beyond Meat forecasts Q2 net revenues of $85M-$90M, below the estimated $96.223M, but reaffirms its FY24 outlook of $315M-$345M, aligning with the estimate of $329.636M. The company anticipates a gross margin in the mid to high teens for FY24, with an improvement expected in the latter half.
May 08, 2024 | 10:23 pm
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Beyond Meat's Q2 revenue forecast falls below expectations, but the company maintains its FY24 revenue outlook and expects an improved gross margin in the second half.
The lower than expected Q2 revenue forecast could negatively impact investor sentiment and stock price in the short term. However, the reaffirmation of the FY24 outlook and expected margin improvement might mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100