The 1 Company I'm Watching the Closest During This Week's Earnings Report
At first glance, Beyond Meat (NASDAQ: BYND) may not seem like the sort of company to suffer during the coronavirus outbreak. The maker of plant-based meat alternatives sells its products in supermarkets, where consumers have been stocking up on essentials since the outbreak deepened in the U.S. Though basics like canned goods and cleaning products may top shopping lists, we can imagine Beyond Meat's plant-based burgers getting a little boost as well.
As we wait for the company's first-quarter earnings report on May 5, my short-term concern is what may have happened to Beyond Meat's restaurant and foodservice segment. (More about my long-term concern later.) In the fourth quarter of last year, that business generated about 59% of Beyond Meat's revenue. You can find Beyond Meat's products at more than 60 restaurant and foodservice locations -- including big names like Dunkin' and TGI Fridays as well as on the campuses of Harvard University and Virginia Tech.
Source Fool.com
