Beyond Meat Q3 2026 earnings review

Revenue of $64.5M beat consensus, but Adjusted EPS of -$2.21 missed.

Beyond Meat · Q3 2026 · Published Nov 5, 2026 · By DeepCell AI · Sources

Beyond Meat Q3 2026 earnings review

Quarter ended September 26, 2026

For information only, not investment advice. No rating or price target.

Built with DeepCell / deepcell.net

1 · Beyond Meat (BYND) Q3 2026 earnings review

Revenue of $64.5M beat consensus, but Adjusted EPS of -$2.21 missed

  1. 1.Total net revenues fell 8.1% to $64.5M, 1.3% above Zacks
  2. 2.Adjusted EPS of -$2.21 missed the Zacks -$2.10 consensus
  3. 3.Gross margin rose to 19.3% from 7.4%
  4. 4.Adjusted EBITDA loss narrowed to $24.6M from $33.5M
  5. 5.Q4 revenue guide of midpoint is 12.4% below Q3 revenue
  6. 6.Shares closed at $7.15 on Nov 4 and traded at $6.90 in pre-market on Nov 5 (-3.5%)

Note: Pre-market price at 8:25 AM ET / 8:25 PM ICT, Nov 5, pre-market, not a close. Revenue per the release is $64.5M total; $55.1M excludes related parties.Source: Beyond Meat Form 8-K, Nov 4, 2026; Zacks; MarketBeat; Yahoo Finance prices, Nov 3–4, 2026

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2 · Executive summary

Q3 revenue beat by 1.3%, but Adjusted EPS missed by $0.11

Q3 2026 results vs. consensus (Zacks, Oct 28; MarketBeat, Nov 4, 2026)

MetricActualConsensusVarianceResult
Total net revenues (Zacks)$64.5M$63.7M+$0.8M / +1.3%Beat
Adjusted EPS (Zacks)-$2.21-$2.10-$0.11 / -5.2%Miss
Total net revenues (MarketBeat)$64.5M$62.0M+$2.5M / +4.1%Beat
Adjusted EPS (MarketBeat)-$2.21-$1.97-$0.24 / -12.2%Miss

Share price, Nov 3–4, 2026 (Yahoo Finance; MarketBeat)

Beyond Meat (Nasdaq)Nov 3 closeNov 4 closeNov 5 pre-marketPre-market move
BYND$7.27$7.15$6.90-3.5%

Pre-market price at 8:25 AM ET / 8:25 PM ICT, Nov 5, pre-market, not a close. The move is versus the Nov 4 close.

Note: EPS % gap is the gap over the absolute consensus loss. No LSEG consensus was found.Source: Beyond Meat Form 8-K, Nov 4, 2026; Zacks, Oct 28, 2026; MarketBeat, Nov 4, 2026; Yahoo Finance prices

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3 · Q3 results vs. consensus

Q4 revenue guide midpoint of $56.5M is 8.3% below Q4 2025

Total net revenues by quarter, with Q4 2026 guide midpoint

$M; Q4 2026 is the midpoint of the Nov 4 guide

$M · Q3 2025: $70.2M$M · Q4 2025: $61.6M$M · Q1 2026: $58.2M$M · Q2 2026: $68.8M$M · Q3 2026: $64.5M$M · Q4 2026G: $56.5MQ3 2025Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026G$0M$25M$50M$80M$70.2M$61.6M$58.2M$68.8M$64.5M$56.5M
Q4 guide of $54M–$59M follows a Q3 guide of $60M–$65M, met at the high end

Note: Q4 2025 is FY 2025 revenue less nine-month 2025 revenue. No Q4 consensus was found, so the guide is not scored.Source: Beyond Meat Form 8-K, Nov 4, 2026; Q2 2026 release (Aug 5, 2026); Form 10-K FY 2025

4

4 · Q4 2026 guidance

Total net revenues fell 8.1%, while gross profit more than doubled

  1. Volume fellPounds sold fell 10.9%.
  2. Margin improvedGross margin rose to 19.3% from 7.4%.
  3. Net loss narrowedNet loss narrowed by $14.2M.

Key figures

$M unless notedQ3 2025Q3 2026YoY
Total net revenues$70.2M$64.5M(8.1%)
Gross profit$5.2M$12.4M137.6%
Loss from operations-$98.1M-$93.0M
Net loss-$97.0M-$82.8M
Adjusted EBITDA-$33.5M-$24.6M

Note: YoY is not shown for losses. Adjusted EBITDA is Beyond Meat’s own measure.Source: Beyond Meat Form 8-K, Nov 4, 2026; analysis of company data

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5 · Q3 key financials

International retail rose 13.3%, the only channel that grew

Net revenues by channel

$M unless noted, Q3 2026

ChannelQ3 2025Q3 2026YoYVolume YoY
U.S. retail$28.5M$24.8M-13.2%-20.8%
U.S. foodservice$10.5M$9.5M-9.7%-12.6%
International retail$15.8M$17.9M+13.3%+17.4%
International foodservice$15.3M$12.4M-19.4%-17.5%
Total net revenues$70.2M$64.5M-8.1%-10.9%
International foodservice fell 19.4% on lower QSR burger sales“Our international retail channel registered a third consecutive quarter of growth, led by strong performance in Europe.” — Ethan Brown, CEO

Note: QSR is quick service restaurant. U.S. retail includes direct-to-consumer sales.Source: Beyond Meat Form 8-K, Nov 4, 2026; analysis of company data

6

6 · Revenue by channel

7 · Revenue bridge

8 · Volume and price

9 · Gross profit bridge

10 · Margin analysis

11 · Cash flow

12 · Channel growth

13 · Balance sheet

Q4 guide needs $54M–$59M of revenue after $64.5M in Q3

Indicator
What to watch
Implication
Latest reading
U.S. retail volume
Revenue base
Distribution and demand
Q3 volume -20.8%
International foodservice
QSR orders
Burger sales to QSRs
Q3 revenue -19.4%
Gross margin
Cost per pound
Held after cuts?
Q3 19.3%
Liquidity
Debt maturities
2027 Notes due Mar 2027
$169.3M cash

Note: QSR is quick service restaurant. These are analytical watch points, not company targets.Source: Beyond Meat Form 8-K, Nov 4, 2026; analysis of company data

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14 · Key risks to guidance

15 · Appendix: Profit detail

Appendix: special items in Q3 2026

ClaimEvidenceCalculation
Impairment of long-lived assets$57.1MNon-cash, added back
Accelerated rent expense$20.8MCampus lease, non-cash
Litigation accrual reduction-$21.8MCredit, removed
Derivative remeasurement gain$13.3MOther income, removed
Share-based compensation$3.8M to $8.2MAdded back to EBITDA

Source: Beyond Meat Form 8-K, Nov 4, 2026; analysis of company data

16

16 · Appendix: Special items

17 · Appendix: Revenue detail

18 · Appendix: Balance sheet

Appendix: income and Adjusted EBITDA detail

Statement of operations, $M

$M unless notedQ3 2025Q3 2026
Total net revenues$70.2M$64.5M
Gross profit$5.2M$12.4M
Total operating expenses$103.3M$105.4M
Total other income, net$1.1M$10.1M
Net loss-$97.0M-$82.8M

Non-GAAP measures, $M

$M unless notedQ3 2025Q3 2026
Adjusted loss from operations-$44.5M-$36.4M
Adjusted net loss-$48.2M-$42.2M
Adjusted EPS ($)-$18.85-$2.21
Adjusted EBITDA-$33.5M-$24.6M

Note: Q3 2025 figures are as corrected in the Q3 2026 release.Source: Beyond Meat Form 8-K, Nov 4, 2026; analysis of company data

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19 · Appendix: Income detail

Appendix: sources

  • Filing: Beyond Meat Form 8-K, Nov 4, 2026 (accepted 4:57 PM ET) — https://www.sec.gov/Archives/edgar/data/1655210/000165521026000071/0001655210-26-000071-index.htm
  • Press release, Q3 2026 (Ex. 99.1, GlobeNewswire) — https://www.sec.gov/Archives/edgar/data/1655210/000165521026000071/ex991pressrelease-q32026ea.htm
  • Prior guidance: Q2 2026 release, Aug 5, 2026 — https://www.sec.gov/Archives/edgar/data/1655210/000165521026000053/ex991pressrelease-q22026ea.htm
  • Q4 2025 and Q1 2026 revenue: SEC XBRL facts (10-K, 10-Q) — https://data.sec.gov/api/xbrl/companyconcept/CIK0001655210/us-gaap/RevenueFromContractWithCustomerExcludingAssessedTax.json
  • Q3 consensus: Zacks, Oct 28, 2026 — https://www.zacks.com/stock/news/3017836/pilgrims-pride-ppc-q3-earnings-and-revenues-surpass-estimates
  • Q3 consensus and pre-market price (8:25 AM ET / 8:25 PM ICT, Nov 5): MarketBeat — https://www.marketbeat.com/earnings/reports/2026-11-4-beyond-meat-inc-stock/
  • Closes: Yahoo Finance BYND, Nov 3 and Nov 4, 2026 — https://finance.yahoo.com/quote/BYND/
  • No LSEG or Q4 consensus was found. Times are US Eastern. The pre-market price is not a close.

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20 · Sources

Important disclosures and disclaimer

For information only. This presentation is provided for information only. It is not investment, legal, tax or accounting advice, and it is not an offer, or a solicitation of an offer, to buy or sell any security.

No recommendation. It carries no rating, price target or buy, sell or hold view, and it was prepared without regard to any reader's investment objectives, financial situation or needs.

Sources and accuracy. Company figures come from Beyond Meat's Form 8-K of November 4, 2026 (Exhibit 99.1). Consensus estimates (Zacks, MarketBeat) and share prices (Yahoo Finance, MarketBeat) are third-party data, credited on the sources page. We have not independently verified third-party data.

Basis of presentation. Figures are as reported for the three months ended September 26, 2026 and September 27, 2025, in US dollars. Per-share figures reflect the 1-for-30 reverse stock split of August 13, 2026.

Forward-looking statements. Company guidance, consensus estimates and the watch items in this deck are forward-looking. They rest on assumptions that may prove wrong, and actual results may differ materially.

Non-GAAP measures. Adjusted EBITDA, Adjusted loss from operations and Adjusted EPS follow Beyond Meat's own definitions and are reconciled in its release. They may not be comparable with other companies' measures.

No liability. No liability is accepted for any direct or indirect loss arising from the use of this presentation or its contents.

No affiliation. This presentation is not affiliated with, reviewed or endorsed by Beyond Meat, Inc. Company and brand names belong to their owners.

How it was made. The deck was built with DeepCell, with figures linked to a model in the file. Readers should check the figures against the original filings.

Date of analysis. The analysis reflects information available on the evening of November 4, 2026, US Eastern time.

Built with DeepCell / deepcell.net

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21 · Disclosures

Sources

Not investment advice; no rating or price target.

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