Beyond Meat Q1 earnings beat expectations

Beyond Meat reported Q1 earnings that beat expectations as concerns about a meat-shortage rise. Yahoo Finance's Jen Rogers, Myles Udland and Brian Sozzi discuss.

Video Transcript

JEN ROGERS: More earnings news coming out, Brian Sozzi standing by with Beyond. Brian.

BRIAN SOZZI: Yeah, Beyond Meat blew it away there, Jen. [INAUDIBLE] $0.03 a share profit versus expectations for a loss of $0.07. Sales, $97 million versus estimates of $88.2 million. So here's another quarter blowing Wall Street estimates away. The stock initially fell 4%. Now it's come back in the green.

I talked to Beyond Meat's founder Ethan Brown a little while ago. And I have a headline here going forward. I just had a story hit on Yahoo Finance on it. They are going to be very aggressive on pricing this summer to gain market share, Ethan Brown telling me they're going to put out value packs, offer a lot more promotions with their restaurant partners and some of the product lines they have in the stores.

Ethan Brown tells me, quote, "this is the industry's moment." He needs and wants be part of a solution. As you know, we've seen a lot of out of stocks from meat and poultry in the stores. And I think playing off what Brown told me, now is the company's chance and [INAUDIBLE] for that matter, too, to gain market share because people go into these stores. They're not finding chicken. They're not finding meat, but maybe they'll find something from Beyond Meat.

JEN ROGERS: And Brian, we've talked so much about the supply chain issues for the meat providers. Are there any supply chain issues for Beyond? Let's say they can get their pricing down so it's comparable or less. Are there any supply chain issues?

BRIAN SOZZI: No. And interesting you asked that, too, Jen, because Impossible Foods has also told us they have not had any supply chain issues. I asked Brown about this. They've put in very strict protocols, cleaning protocols in their facilities.

He told me they have not had a single case of COVID-19 in their manufacturing plant. So for them, full steam ahead. And I see in stores, their products are actually in stock. I think Tyson Foods and a lot of other traditional meat makers have to step up their game here.

JEN ROGERS: OK, Brian Sozzi with the Beyond numbers. Beyond was up over 5% today, and now it's tacking on almost 8% right now.