What Jim Cramer Liked About Beyond Meat's First Earnings Report
Curious about Beyond Meat's quarter?
Jim Cramer breaks down what he was paying attention to in the earnings report.
But, before diving into Cramer's thoughts on the quarter.
Here's Beyond's earnings.
The adjusted loss in the quarter was 14 cents a share vs.
Expectations of a loss of 15 cents.
Revenue rose 215% to $40.2 million and beat forecasts of $38.9 million.
Cramer said that he thinks that the soaring in Beyond's stock is textbook.
What does he mean by that?
Textbook means that when a company goes public and then they impress Wall Street, the stock is going to go up.
In terms of Beyond Meat, "they [had] a really great quarter, I mean much better than expected revenues, a real path to profitability, going to win some very, very big contracts." And, here's what Cramer liked about the call.
"But I do think that when [Beyond] talked about the mistakes, what, what they're basically saying is that [their competitors] don't have the right ingredients.
And [Beyond does].
Now, I think anyone who reads the full ingredients list [knows that there's] a lot of chemicals.
It's definitely not pure," he said.
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