Plant-based protein company Beyond Meat (NASDAQ: BYND) beat Wall Street’s revenue expectations in Q3 2026, but revenue fell by 8.1% year on year to $64.53 million. On the other hand, next quarter’s revenue guidance of $56.5 million was less impressive, coming in 2.6% below analysts’ consensus estimates. Its non-GAAP loss of $2.21 per share was 10.5% below analysts’ consensus estimates.
For more on Beyond Meat, read the full research report for free.
Beyond Meat (BYND) Q3 2026 highlights:
- Revenue $64.53 million vs S&P analysts’ consensus estimates of $64 million (8.1% year-on-year decline, 0.8% beat)
- Adjusted EPS -$2.21 vs S&P analysts’ consensus estimates of -$2.00 (10.5% miss)
- Adjusted EBITDA -$24.56 million (-38.1% margin, 13.5% year-on-year decline)
- Revenue guidance $56.5 million at the midpoint for Q4 2026, below analysts’ consensus estimates of $58 million
- Operating margin -144%, down from -47.2% in the same quarter last year
- Free cash flow -$15.6 million compared to -$41.69 million in the same quarter last year
- Sales volumes fell 10.9% year on year, in line with the same quarter last year
- Market capitalization $125 million
Revenue growth
A company’s long-term revenue performance can indicate its overall quality. Even a poor business can perform well for one or two quarters, but a high-quality one grows for years.
With $253.2 million in revenue over the past 12 months, Beyond Meat is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers.
Beyond Meat struggled to generate demand over the last three years. Its revenue dropped by 10.2% annually as consumers bought less of its products.
This quarter, Beyond Meat’s revenue fell by 8.1% year on year to $64.53 million but beat Wall Street’s consensus estimates by 0.8%. Management is guiding for an 8.3% year-on-year decline in revenue next quarter.
Projected revenue growth is another way to assess companies, but not enough Wall Street analysts cover Beyond Meat for it to have reliable consensus estimates.
Volume growth
Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is essential to a successful staples business as there’s a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive.
Beyond Meat’s average quarterly sales volumes have shrunk by 14.1% over the last two years. This decline is a concern because demand for consumer staples products is typically stable. 
In Beyond Meat’s Q3 2026, sales volumes dropped 10.9% year on year. This result represents a further deceleration from its historical levels, showing the business is struggling to move its products.
Key takeaways from Beyond Meat’s Q3 results
Beyond Meat’s narrow revenue beat against analysts’ consensus estimates was offset by misses on EBITDA and EPS, making Q3 a softer quarter overall. Shares edged lower 1% to $7.09 immediately after the results.
Beyond Meat had a disappointing quarter, but is the stock worth considering at the current price? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation when deciding if the stock is a buy. Read the full research report here (it’s free).
