Beyond Meat, Inc. Q3 2026 Earnings Recap

Beyond Meat’s shares fell 15.2% after earnings, signaling investor concern that the turnaround remains constrained by declining revenue and persistent weakness in its core U.S. business. Revenue was down 8% year over year, and management cited inflation and misinformation as ongoing headwinds in U.S. retail and food service.

Key Takeaways

• Q3 net revenue was $64.5 million, at the high end of the company’s $60 million–$65 million guidance, but 8% below a year earlier.
• Gross margin improved to 19.3% from 7.4% a year ago, while cost of goods sold fell to $3.90 per pound; management said its long-term gross-margin goal is 30% or higher.
• International retail grew 13.3% year over year for a third consecutive quarter, while U.S. core product performance varied across retail accounts.
• Management said restructuring-related charges, including asset impairment and campus-lease activities, weighed on operating expenses; it expects lease actions to meaningfully reduce future payments.
• Beyond Steak Filet has gained early traction online and at several retailers, but management described that traction as early.