(Boursier.com) — Beyond Meat, the American producer of plant-based meat substitutes, soared by 74% after trading on Wall Street last night! The group pleasantly surprised with its fourth quarter financial publication, posting revenues of $74 million over the period, certainly down year-on-year, but significantly higher than the consensus which stood at $67 million. The net loss, however, doubled to $155 million or $2.40 per share, while the adjusted loss per share was 92 cents, a little larger than the consensus expected. The Californian group is counting on an improvement in margins this year, with restructuring. He hopes to raise the bar in the United States with his new version of the ‘Beyond Burger’.
For the current financial year, revenues are expected between $315 and $345 million, compared to a consensus of $344 million and a level of $343 million in 2023. Above all, the gross margin is expected at 15-19 % in 2024, while it was negative last year.
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