Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Beyond Meat Serves Up McDonald's, Yum! Brands Deals; Shares Sizzle

Published 25/02/2021, 21:35
Updated 25/02/2021, 21:48
©  Reuters

© Reuters

Yasin Ebrahim

Investing.com - Beyond Meat soared in after-hours Thursday after the plant-based food company said it had signed agreements with McDonald's and Yum! Brands (NYSE:YUM).  

Beyond Meat (NASDAQ:BYND) was up 2% in after hours trading. 

Under the three-year global strategic agreement with McDonald's,  Beyond Meat's will be the preferred supplier for the patty in McDonald's McPlant burger, a new plant-based burger being tested in select McDonald’s (NYSE:MCD) markets globally. The relationship between the two began in 2019 with the Canadian test of a sandwich made with Beyond Meat’s plant-based patty. 

Beyond Meat and Yum! Brands, meanwhile, will co-create and offer plant-based protein menu items at KFC, Pizza Hut and Taco Bell over the next several years.

The positive update offset fourth-quarter results that fell short of Wall Street estimates.

The meatless-based products company reported a loss of 34 cents a share on revenue of $101.9 million, missing consensus estimates

 

 

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.