EL SEGUNDO, Calif. - Beyond Meat, Inc. (NASDAQ: NASDAQ:BYND), known for its plant-based meat products, today announced the expansion of its Beyond Crumbles line, now offering three flavors that comply with the American Heart Association and American Diabetes Association nutrition criteria.
The new product line, featuring Beyond Beef Crumbles Original, Beyond Beef Crumbles Feisty, and Beyond Sausage Crumbles Italian-Style, aims to provide consumers with a healthy protein alternative that is low in saturated fat and contains no cholesterol.
The Beyond Crumbles are designed to be a convenient cooking ingredient, easily prepared by sautéing in a skillet for four minutes. Beyond Meat's CEO, Ethan Brown, emphasized the product's health benefits and its certification by the Heart-Check program and the Better Choices for Life program, reflecting the company's commitment to offering products that contribute to human health.
Beyond Meat's innovation is not limited to its crumbles. The company also recently announced its Beyond IV platform, which includes the fourth generation of the Beyond Burger and Beyond Beef, expected to launch this spring.
Additionally, Beyond Meat supports research into the health implications of plant-based diets. One such study, the SWAP-MEAT study published in The American Journal of Clinical Nutrition, reported improved cardiovascular risk factors when animal-based meat was replaced with Beyond Meat's plant meat.
The new Beyond Beef Crumbles are currently available in the freezer aisle of grocery stores across the U.S., and the Italian-style sausage flavor is set to hit shelves this summer. Consumers can identify the new offerings by the yellow "new" banner across the packaging.
This expansion is part of Beyond Meat's broader mission to provide plant-based products that are better for consumer health and the planet, addressing issues like climate change, resource constraints, and animal welfare.
The information for this article is based on a press release statement.
InvestingPro Insights
As Beyond Meat, Inc. (NASDAQ: BYND) launches its new Beyond Crumbles line, the company's financial health remains a focal point for investors. According to InvestingPro data, Beyond Meat currently has a market capitalization of $536.17 million, reflecting investors' valuation of the company in the stock market. This valuation comes despite a challenging financial landscape, highlighted by a negative adjusted P/E ratio for the last twelve months as of Q4 2023, sitting at -1.89. This metric indicates that investors are not currently expecting earnings to cover the company's share price.
The company's revenue has seen a downward trend, with a decrease of 18.04% over the last twelve months as of Q4 2023. This is coupled with a negative gross profit margin of -3.31%, which suggests that Beyond Meat has been facing difficulties in maintaining profitability on its products. The operating income margin of -73.86% further underscores the operational challenges the company faces.
InvestingPro Tips provide additional context to these numbers. Beyond Meat operates with a significant debt burden and may have trouble making interest payments on its debt, which is a concern for its financial stability. Moreover, the company is quickly burning through cash, which could impact its ability to sustain operations and invest in growth initiatives. Despite these concerns, it's worth noting that 5 analysts have revised their earnings upwards for the upcoming period, indicating some optimism around the company's potential to improve its financial performance.
For those interested in a deeper analysis, there are over 10 additional InvestingPro Tips available, offering insights such as the company's stock price volatility and valuation multiples. To explore these insights further, visit https://www.investing.com/pro/BYND. And for those looking to subscribe to the service, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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