The Los Angeles-based company’s first earnings report since going public in May forecasted sales exceeding US$210 million this year. That would surpass analysts’ estimates and double 2018’s results. Executives called their estimates “conservative,” saying that the company’s second and third quarters—which take place during barbecue season—would be their strongest. The company reported a net loss of US$6.6 million, up from US$5.7 million last year but still beat analysts’ forecasts. The losses were attributed to higher operating expenses. Beyond Meat’s stock was up 43.29 per cent in late afternoon trading on Friday.(Financial Times, Bloomberg)

Talking point: The plant-based meat-alternative industry continues to grow, with some analysts estimating a US$100-billion market over the next 15 years. Beyond Meat’s competition is heating up, with its Silicon Valley-based rival Impossible Foods signing a U.S. distribution deal with Burger King in April. Beyond Meat’s partnership with A&W Canada led to the plant-based patties being sold out at restaurants weeks following its launch in July 2018, and has since been expanded to A&W’s breakfast products. In Toronto, Tim Hortons is testing a new line of breakfast sandwiches and wraps with Beyond Meat’s meatless sausage patties. If successful, the line will be launched across Canada. And, last week, Beyond Meat announced its European expansion plans for 2020. Executives hinted on Thursday that a big customer announcement could be coming soon.