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Read the Report: Beyond May Still Be a ‘Buy’

Quarterly financial reports follow a formula one could teach a hamster: Revenue minus costs equals profit. Compare results. Quote CEO.  Bury anything else. A couple of analysts will notice, but the wire story will omit any inside baseball and lead with the figures. The compAny’s financial people and media people craft a message with this storyline in mind.  But even having said all that, the best place to hide a tree is still in a forest. So I read earnings reports pretty carefully. And every once in a while, I notice something that seems noteworthy. That was the case with Beyond Meat’s recent report, which covered the 90-day period ended in June.  In case you missed it, the company reported net revenue increased 69%, to $113.3 million. Gross margin was nearly 30%. The company, which sells plant-based meat substitutes, is still losing money, and the loss widened. Still, Beyond is a hot issue in a coveted niche. Shares have surged nearly 70% since January.  Here’s the thing: After the r
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