Yahoo Finance Beyond Meat's (BYND) Q3 Earnings Upcoming: Key Factors to Note
Beyond Meat, Inc. BYND is likely to register a top and bottom-line decrease from the year-ago fiscal quarter’s reading when it reports third-quarter 2022 earnings on Nov 9. The Zacks Consensus Estimate for quarterly revenues is pegged at $91 million, suggesting a decline of 14.3% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for the third-quarter bottom line has improved by a penny in the past 30 days to a loss of $1.09 per share. This indicates a 25.3% slump from a loss of 87 cents reported in the prior-year fiscal quarter.
This meat product company has a trailing four-quarter negative earnings surprise of around 65.9%, on average. BYND delivered a negative earnings surprise of 25.4% in the last reported quarter.
Beyond Meat, Inc. price-consensus-eps-surprise-chart | Beyond Meat, Inc. Quote
Factors to Consider
Beyond Meat remains troubled by elevated manufacturing costs, such as the increased cost of materials and logistics.
In its second-quarter earnings release, management stated that the operating landscape remains impacted by near-term volatility associated with macroeconomic factors. These include inflation and rising interest rates, concerns surrounding a recession, the impact of the pandemic on consumer behavior and demand and headwinds related to labor availability and supply-chain bottlenecks. These factors raise concerns for the third quarter.
However, the company has been focused on curtailing general operating expenses. Beyond Meat has also been benefiting from its regular product introduction, a sturdy distribution channel and prudent partnerships (including QSR companies like McDonald's and Yum! Brands).
That said, volatile foreign currency movements and unfavorable pricing is a concern.
Management lowered its net revenue guidance for 2022 when it reported second-quarter results. This was a result of the company’s lowered view for Europe and the Middle East, U.S. retail and Beyond Meat jerky. Lower revenues are likely to have put pressure on the gross margin in the third quarter.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Beyond Meat this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Beyond Meat has a Zacks Rank #3 and an Earnings ESP of -0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Here are some companies worth considering as our model shows that these have the right combination of elements to beat earnings this season.
Darling Ingredients Inc. DAR currently has an Earnings ESP of +0.23% and a Zacks Rank #2. The company is likely to register bottom-line growth when it reports third-quarter 2022 earnings. The Zacks Consensus Estimate for the quarterly earnings per share (EPS) of $1.42 suggests a dip of 61.4% from the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Darling Ingredients’ top line is anticipated to have increased year over year. The consensus mark for DAR’s revenues is pegged at $1.68 billion, indicating an increase of 41.9% from the figure reported in the year-ago quarter. DAR has a trailing four-quarter earnings surprise of 3.9%, on average.
Campbell Soup Company CPB currently has an Earnings ESP of +4.30% and a Zacks Rank #3. The company is expected to register a decrease in the bottom line when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly EPS of 84 cents suggests a dip of 5.6% from the year-ago quarter.
Campbell Soup’s top line is anticipated to have increased year over year. The consensus mark for CPB’s revenues is pegged at $2.42 billion, indicating an increase of 8.1% from the figure reported in the year-ago quarter. CPB has a trailing four-quarter earnings surprise of 6.5%, on average.
The J. M. Smucker Company SJM currently has an Earnings ESP of +1.06% and a Zacks Rank #3. The company is expected to register a decrease in the bottom line when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for the quarterly EPS of $2.17 suggests a dip of 10.7% from the year-ago quarter.
Smucker’s top line is anticipated to have increased year over year. The consensus mark for SJM’s revenues is pegged at $2.16 billion, indicating an increase of 5.2% from the figure reported in the year-ago quarter. Smucker has a trailing four-quarter earnings surprise of 20.8%, on average.
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Campbell Soup Company (CPB) : Free Stock Analysis Report
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Beyond Meat, Inc. (BYND) : Free Stock Analysis Report
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