Since debuting on the Nasdaq in May, Beyond Meat has exploded.
The company, which Monday reported surprisingly strong quarterly sales and boosted its full-year 2019 outlook, has been partnering with grocery stores, restaurants and even meal kit subscription service Blue Apron to bring their plant-based protein to consumers -- the most recent of which was with Dunkin’ last week.
Beyond Meat sells its products in the meat section of 30,000 grocery stores, restaurants and schools in the U.S., Canada, Italy, the United Kingdom and Israel. The company’s meat-alternative has been available in some grocery stores since 2016.
The California-based company beat expectations in its first earnings report since it debuted on Wall Street.
Beyond Meat’s shares soared after it beat the Street’s first-quarter earnings and revenue forecasts.
|BYND||BEYOND MEAT, INC.||64.61||-2.75||-4.08%|
|QSR||RESTAURANT BRANDS INTERNATIONAL, INC.||56.10||+0.05||+0.09%|
|TACO||LEVY ACQUISITION CORP.||7.53||-0.01||-0.13%|
The company said it expected full-year revenue to hit $210 million this year, more than double its revenue last year. Analysts averaged Beyond Meat’s full-year revenue to hit $205 million at the time.
Dunkin' announced last Tuesday it has partnered with Beyond Meat to create a breakfast sandwich that will be available first to consumers in Manhattan.
The coffee giant unveiled the Beyond Sausage Breakfast Sandwich that is now available at participating stores in New York City. The company plans to roll out the item nationwide in the future but did not give a specific date.
The new sandwich consists of a Beyond Breakfast Sausage patty on an English muffin with cheese and egg. Customers can taste the plant-based meat sandwich at participating Manhattan restaurants, which are offering complimentary samples on Wednesday from 10 a.m. to 2 p.m. ET.
In May, Canadian coffee chain Tm Hortons -- owned by Restaurant Brands International -- said it would be testing Beyond Meat’s breakfast sausage on the Beyond Meat Vegan Sandwich, Beyond Meat Breakfast Sandwich and the Beyond Meat Farmers Breakfast Wrap. The sandwiches will be tested at a few locations in Canada to start.
If the new menu items prove to be successful, the company said it would plan on rolling out the items across Canada by the end of the year.
Carl’s Jr. announced it was partnering with Beyond Meat in January of this year, according to a release at the time.
The Beyond Famous Star burger was offered beginning on Jan. 2 at more than 1,000 locations, the release said.
In April, Tex-Mex chain Del Taco launched Beyond Meat tacos and in June brought the plant-based alternative into two of its burritos as well.
The company announced the menu expansion after revealing that its Beyond Meat tacos were one of the best-selling new products in the chain’s history. Since its nationwide launch, Del Taco sold about 2 million of the meat-free item, the company said.
The burritos were first available on June 20.
Restaurant chain TGI Fridays got in on the Beyond Meat craze way back in 2017. According to a press release from September 2017, the plant-based burger was released at six locations in the Boston area, with the possibility of expansion by the end of 2018.
FOX Business’ Kathleen Joyce, Fox News’ Alexandra Deabler and The Associated Press contributed to this report.