Track market-moving stories before they get noisy

Iconic Strip destinations heat up the season with a dynamic lineup of soccer watch parties, high-energy sporting events, holiday fireworks, poolside events and limited-time travel offers

, /PRNewswire/ -- MGM Resorts International is turning up the heat on summer travel with a lineup of vacation deals, high-energy entertainment and destination-wide events across its Las Vegas properties. From poolside fun and major sports event-viewing to patriotic celebrations and vacation packages, guests can live it up with a season-long slate of offerings designed for the ultimate escape.

MGM Resorts Sets Ultimate Summer Stage for Spectacle, Sports and Sun in Las Vegas. MGM Resorts destinations across Las Vegas will turn up the energy throughout the summer with experiences ranging from Dive In Movies at The Cosmopolitan of Las Vegas and world soccer championship viewing parties to Flavor Flav's SHE Weekend celebrations and America250 fireworks spectaculars. MGM Resorts also recently introduced a new all-inclusive vacation experience, along with special offers for military members and veterans, creating even more ways for guests to experience Las Vegas this season.

For additional information and reservations, visit mgmresorts.com.

Summer Travel Offers and All-Inclusive Vacation Experiences

All-Inclusive Vacation Experience. MGM Resorts' new all-inclusive vacation experience bundles hotel accommodations, daily resort fees, dining, entertainment and parking into a single upfront price – starting at $330 plus tax for a two-night stay for two guests – at Luxor Hotel & Casino and Excalibur Hotel & Casino. Dates: Available now Military & Veterans Program Offer. MGM Resorts will honor active-duty military members, veterans and eligible spouses with a special Military & Veterans Program available for stays through July 7. The limited-time offer includes room upgrades based on availability, spa and salon savings, and discounts at participating bars and restaurants, entertainment and retail outlets. Dates: Now through July 7 Semi-Annual Summer Sale. MGM Resorts' Semi-Annual Summer Sale will give guests exclusive seasonal savings for bookings made now through July 7. MGM Rewards members can receive up to 45% off room rates or up to 35% off plus a food and beverage credit, while non-members can access savings up to 30% off room rates or up to 20% off plus a food & beverage credit. Dates: Now through July 7 Summer of Entertainment. MGM Resorts invites guests to experience an unforgettable lineup of entertainment and attractions all summer long with exclusive limited-time offers available now through September 7. From headlining performances by New Kids On The Block and Sammy Hagar at Dolby Live at Park MGM to special events such as Las Vegas Songwriters Festival at Mandalay Bay, along with savings on select shows and attractions across the Las Vegas Strip including Cirque du Soleil productions, comedy, magic and family-friendly experiences. For additional information and to purchase tickets, visit mgmresorts.com/entertainment. Summer Soccer Viewing Experiences / June 11 – July 19
Throughout the summer, MGM Resorts destinations across the Las Vegas Strip will unite fans for the season's biggest international soccer matches with themed events, specialty food and beverage offerings and high-energy viewing experiences. Fans will have the opportunity to watch all of the tournament games at BetMGM Sports Books along with participating locations at Bellagio (COMO Poolside Cafe & Bar); ARIA (Proper Eats Food Hall and Lift Bar); The Cosmopolitan of Las Vegas (Clique Bar & Lounge, China Poblano and Zuma); MGM Grand (Level Up and TAP Sports Bar); Mandalay Bay (Tailgate Beach Club and Rhythm & Riffs); Park MGM (Eataly Bar and Pool); New York-New York (Nine Fine Irishmen, Beerhaus, Tom's Watch Bar, Coyote Ugly, Bar at Times Square, Center Bar, The Chocolate Bar, Pour 24 and a Brooklyn Bridge viewing area); Luxor (Centra and Public House); and Excalibur (TAP Sports Bar).

Flavor Flav's SHE Weekend Celebrates Women's Sports / July 16 - 19
In partnership with Flavor Flav, MGM Resorts will celebrate SHE Weekend, a multi-day event honoring female world-class athletes. The weekend will feature appearances and activations tied to athletes and personalities from across women's sports, highlighted by a Las Vegas Strip parade culminating with a celebration in Toshiba Plaza.

Summer of Sports at MGM Resorts
As the premier destination for world-class sports and entertainment on the Las Vegas Strip, MGM Resorts is set to deliver an unparalleled summer of high-stakes action. Fans can experience the thrill of UFC 329 at T-Mobile Arena (July 11); witness the WNBA's defending champion Las Vegas Aces take on Caitlin Clark and the Indiana Fever at T-Mobile Arena (July 5); feel the energy of Power Slap 21 at The Cosmopolitan (July 10); and catch the inaugural Players Era Volleyball tournament at T-Mobile Arena (August 29 – 30). For event information and tickets, visit mgmresorts.com.

Patriotic Celebrations / June 6 – July 25
The Las Vegas skyline will light up throughout the summer in honor of America250 with synchronized fireworks spectaculars from multiple locations including ARIA and MGM Grand. Guests also can experience patriotic-themed moments including illuminated Fountains of Bellagio shows, holiday-inspired lighting displays at Luxor and Mandalay Bay and themed Dive In Movie nights at The Cosmopolitan on select dates throughout the summer.

Citywide Fireworks: June 6 – July 25 (Every Saturday) Fountains of Bellagio Patriotic Lights: July 3 - 5 Mandalay Bay & Luxor Building Lights: June 13, July 3 – 5 and July 11 New York-New York Bridge Bash: Celebrate July 4th with the New York-New York Bridge Bash featuring live entertainment, food and beverage carts and family-friendly activities. The action kicks off at 3 p.m. and leads up to the spectacular fireworks viewing at 9 p.m. Dive In Movies Under the Stars / June 8 – August 17
Every Monday throughout the summer, guests of all ages are invited to enjoy fan-favorite films at The Cosmopolitan of Las Vegas' Boulevard Pool. Featuring a 65-foot digital marquee set against the dazzling backdrop of the Las Vegas skyline, this unique cinematic setting blends the laid-back vibe of a Las Vegas pool with the thrill of the big screen, creating the ultimate night under the stars. Scheduled films range from family-friendly comedies to action-packed blockbusters, including A Minecraft Movie, Clueless, Rush Hour, National Treasure, Space Jam and Ferris Bueller's Day Off. Movies begin at 8 p.m. In addition to the Monday movie series, guests can enjoy special fireworks evenings on select Saturdays throughout the summer.

Dive In Movies: June 8 – August 17 (Every Monday) Summer Fireworks Nights: June 13, July 4 and July 11 Summer Prix Fixe Program – Taste of Summer / June 14 – September 1
Guests are invited to enjoy the Taste of Summer featuring a variety of menu options showcasing some of The Strip's hottest restaurants. Participating venues range from Harvest and The Mayfair Supper Club at Bellagio to China Poblano and Amaya at The Cosmopolitan of Las Vegas as well as Orla and Strip Steak at Mandalay Bay and Primrose at Park MGM. For a full selection of restaurants, menus and pricing, visit MGM Resorts Food & Beverage.

Forward Looking Statements
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the Company's expectations regarding the events and offers described herein. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and the Company may not be able to realize them. The Company does not guarantee that the events or offers described herein will happen as described (or that they will happen at all). These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks related to the economic and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of conversion or expansion projects, risks relating to domestic and international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

Media Contacts
MGM Resorts International Public Relations
[email protected]

Kirvin Doak Communications for MGM Resorts International
[email protected]

SOURCE MGM Resorts International

Key Takeaways CVX applied for RIGI approval for a $13.8B unconventional oil project in El Trapial, Vaca Muerta.Chevron said that RIGI offers regulatory stability, tax benefits and investment protections.Chevron holds key El Trapial concessions and a 50% interest in Loma Campana and Narambuena. Chevron Corporation (CVX - Free Report) , a Houston-based multi-national energy corporation and the second-largest oil company in the United States, has reportedly submitted an application to participate in Argentina’s Large Investment Incentive Regime (RIGI, for its Spanish acronym) for a groundbreaking $13.8-billion (19.69 trillion pesos) unconventional oil initiative in the El Trapial area of the Vaca Muerta shale formation. According to Reuters, Chevron disclosed the filing on Tuesday, indicating that the project could rank among the largest new investments in Argentina’s rapidly expanding shale industry, subject to government approval.

The Vaca Muerta region is internationally known for its vast shale oil and gas resources and is a key pillar of Argentina’s efforts to boost energy exports and strengthen foreign currency earnings. Chevron’s engagement reinforces its long-standing commitment to Argentina, primarily through its subsidiary Chevron Argentina, which has concentrated efforts on crude oil and natural gas production in Neuquén province.

Chevron’s Strategic Presence in El Trapial & Vaca MuertaChevron Argentina’s operations in El Trapial date back to 1999, with it holding a substantial footprint in both conventional and unconventional hydrocarbon resources. In 2022, Chevron Argentina secured a 35-year concession from the Neuquén province for unconventional oil and gas development in El Trapial East, granting full ownership and operational control of two blocks: El Trapial-Curamched for conventional resources and El Trapial-Este for unconventional extraction. Together, these blocks encompass 111,000 net acres, representing a significant strategic asset in Argentina’s shale industry.

In addition to El Trapial, Chevron maintains a non-operated 50% interest in the Loma Campana and Narambuena concessions, managed through a partnership with Argentina-based integrated oil and gas company, YPF Sociedad Anonima (YPF - Free Report) , diversifying its portfolio in Argentina’s hydrocarbon sector.

RIGI Incentive Scheme: Unlocking Argentina’s Energy PotentialThe Large Investment Incentive Regime (“RIGI”), promoted by president Javier Milei’s administration, is designed to attract international capital to Argentina’s energy, mining and infrastructure sectors. Established by Law No. 27,742 in July 2024 and implemented through Decree No. 749/2024, RIGI focuses on large-scale projects exceeding $200 million, offering a framework for regulatory predictability, investment stability and legal security.

The incentive program provides multiple advantages, including tax relief, customs benefits and foreign exchange protections, positioning Argentina as a highly attractive destination for global energy investors. Chevron emphasized that frameworks like RIGI are important for Argentina’s energy sector because they provide regulatory stability and encourage long-term investment.

Economic & Strategic Implications of Chevron’s InvestmentChevron’s proposed investment reaches a transformative milestone for Argentina’s shale oil sector, creating opportunities for economic growth and energy independence. The project is expected to stimulate local employment, enhance technological expertise and strengthen Argentina’s capacity to export crude oil and natural gas to international markets.

El Trapial’s unconventional resources could play an important role in increasing Argentina’s foreign currency inflows, aligning with the government’s broader economic priorities. By advancing large-scale development, Chevron positions itself as a pivotal partner in the country’s energy expansion, leveraging advanced extraction technologies and decades of operational experience.

Chevron’s Global Strategy & Regional PartnershipsBeyond Argentina, Chevron has been actively expanding its Latin American energy portfolio. In April, Chevron entered an asset exchange agreement with Petróleos de Venezuela, aiming to grow its participation in Venezuela’s heavy oil sector while divesting certain gas assets. This strategic maneuver aligns with Chevron’s broader objective of optimizing its regional energy holdings and capitalizing on high-potential hydrocarbon reserves across the continent.

Chevron’s commitment to Argentina is further demonstrated by its long-term concessions, robust infrastructure and technical expertise applied to sustainable resource development, ensuring that projects such as El Trapial meet international operational standards while maximizing the economic benefit to the local community.

Outlook for Argentina’s Shale IndustryThe approval of Chevron’s RIGI application could catalyze substantial growth in the Vaca Muerta region, attracting additional foreign investment and reinforcing Argentina’s position as a global energy hub. As one of the world’s largest shale formations, Vaca Muerta offers unmatched potential for unconventional oil and gas production, making Chevron’s involvement a pivotal moment in the country’s energy trajectory.

The project emphasizes the importance of predictable regulatory frameworks and targeted incentives in promoting large-scale energy investments, while also laying the groundwork for sustainable economic development. By leveraging Chevron’s expertise and the legal protections offered under RIGI, Argentina is poised to unlock the full potential of its unconventional resources, driving long-term growth and regional energy leadership.

ConclusionChevron’s proposed billion-dollar investment in El Trapial, Vaca Muerta represents a historic opportunity for it and Argentina’s energy sector. With the support of RIGI, Chevron is set to play a transformative role in developing one of the largest shale oil and gas reserves globally, boosting exports, generating employment and advancing the country’s energy infrastructure. The initiative exemplifies the synergy between multi-national expertise and government-led incentives, paving the way for sustained energy growth in Argentina and establishing a blueprint for future large-scale projects.

CVX's Zacks Rank & Other Key PicksCurrently, CVX carries a Zacks Rank #2 (Buy) and YPF sports a Zacks Rank #1 (Strong Buy). YPF Sociedad Anonima is Argentina’s leading energy company, engaged in the exploration, production, refining and distribution of oil and natural gas. YPF plays a central role in the country’s energy sector and is a key driver of domestic fuel supply and hydrocarbon development.

Investors interested in the energy sector might look at some other top-ranked stocks like  Imperial Oil (IMO - Free Report) and Marathon Petroleum (MPC - Free Report) , sporting a Zacks Rank #1 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Imperial Oil is valued at $58.86 billion. It is a major Canadian petroleum company involved in crude oil production, refining and fuel distribution, with operations concentrated in Canada. A majority-owned subsidiary of ExxonMobil, Imperial Oil benefits from advanced technology and expertise while maintaining a strong presence in Canada's energy sector.

Marathon Petroleum is valued at $76.49 billion. It is one of the largest downstream energy companies in the United States, operating extensive refining, transportation and fuel marketing networks. Through its refining assets and retail fuel brands, Marathon Petroleum supplies gasoline, diesel and other petroleum products to consumers and businesses nationwide.

Around 20 million barrels of oil per day (BPD) traversed the Strait of Hormuz before the war with Iran. That accounted for about 25% of the global seaborne oil trade and around 20% of the total global supply. According to tanker tracking data, oil flows through the Strait of Hormuz have slowed to a trickle since the war with Iran began.

However, that trickle might be bigger than first thought. Some ships are paying tolls to Iran while others are quietly escaping the Strait at night with their transponders off. These additional flows are helping keep oil prices down. Here’s a look at what it means for oil stocks.

Image source: Getty Images.

The “ghost” fleetAccording to a JPMorgan estimate, visible traffic through the Strait of Hormuz is only about 15% of the pre-war level. That suggests there’s a massive energy supply gap. Pipelines bypassing the Strait of Hormuz (Saudi Arabia’s 7 million BPD East-West Pipeline and the 1.8 million BPD Abu Dhabi Crude Oil Pipeline) are helping offset some of this gap. Meanwhile, higher oil prices are causing some demand destruction. The world is making up the remaining shortfall by drawing down excess inventory and tapping emergency stockpiles, such as the U.S. Strategic Petroleum Reserve.

However, many oil market analysts believe that there’s additional oil flowing out of the Persian Gulf through “ghost” fleets. According to an estimate by Piper Sandler, around 2.9 million BPD made it through the Strait of Hormuz last month. That includes about 2.1 million BPD from tankers that paid tolls to Iran and another 900,000 BPD of “ghost” transits, tankers that quietly escaped in the dark with their transponders off.

These workarounds have helped keep oil prices from getting out of hand. While Brent oil, the global benchmark, surged from its pre-war level of around $70 a barrel to a high of about $114, it was recently in the low $90s.

Time is tickingDespite some leakage, Iran has impeded oil flows out of the Strait of Hormuz for more than 100 days. While this supply issue hasn’t yet caused the nightmare scenario that many initially envisioned with crude prices spiking to record levels, that risk remains. Global crude oil inventories are draining fast due to an estimated supply loss of over 1 billion barrels since the war began. 

Some key oil storage hubs are approaching their operational minimum. For example, the Cushing, Oklahoma, oil storage hub -- one of the largest in the world -- had 22.4 million barrels in inventory at the end of May, down 4 million barrels compared to the pre-war level (and well below its 78.5 million barrel capacity). Cushing could face operational challenges when its inventory drops below 20 million barrels.

As inventory levels fall towards operational minimums, it could spark a surge in oil prices. Piper Sandler is already predicting that oil will average $130 a barrel in July and August, given the unlikelihood of a full reopening of the Strait of Hormuz anytime soon. Meanwhile, JPMorgan sees a risk of oil surging above $150 a barrel.

The bull case for oil stocksWhile more oil is likely escaping the Strait of Hormuz than tracking data suggests, it’s not enough to offset the looming supply crisis. Oil prices will likely start surging as global oil inventories drop below operational minimums.

This outlook bodes well for oil stocks. For example, while shares of oil giants ExxonMobil (XOM +0.28%) and Chevron (CVX +0.63%) are already up over 20% this year, they currently sit more than 10% below their recent peaks because crude prices have fallen from their highs. However, their shares will likely surge if oil prices start moving higher again, which is increasingly likely due to the lack of progress towards a peace deal between the U.S. and Iran. Meanwhile, oil prices would likely remain elevated even if there’s a peace deal, given the time it will take to rebuild depleted global oil stockpiles.

Today's Change

(

0.28

%) $

0.41

Current Price

$

147.01

This scenario of higher oil prices for longer will enable Exxon and Chevron to generate more cash flow going forward. Chevron initially expected to grow its free cash flow at a 10% annual rate through 2030 at $70 oil, while ExxonMobil anticipated producing $145 billion in cumulative free cash flow during that period at $65 oil. Both will likely exceed those targets. That makes them look like even better long-term investments.

Amid growing concerns about the reliability of oil supplies due to heightened tensions in the Strait of Hormuz, the strength and durability of multinational oil companies have come under scrutiny.

ExxonMobil (XOM +0.28%) announced yesterday that its operations in Guyana generated $4.7 billion in profit last year, highlighting the significance of the South American nation’s offshore oil boom as a buffer against the geopolitical crisis in the Middle East.

Incidentally, another supermajor, Chevron (CVX +0.63%), through its acquisition of Hess, had disclosed a $2.89 billion profit in 2025 from Guyana. It’s no secret that oil companies and investors are looking to diversify their energy investments away from any single region.

Image source: Getty Images.

The world's best oilfield nobody is talking aboutAt 6.6 million acres, the Stabroek block is a giant, low-cost, high-margin oil discovery located in deepwater territory. While ExxonMobil has a 45% working interest, Chevron has a 30% interest through Hess. The Chinese state-owned oil company CNOOC holds the remaining 25%.

Since ExxonMobil discovered this oilfield in 2015, the consortium has identified more than 11 billion barrels of recoverable oil, making it the largest crude oil discovery over the last decade.

What sets Stabroek apart is its economics. On some projects, including ExxonMobil's Yellowtail development, breakeven costs are as low as $25 per barrel, far below the global average and roughly half the onshore breakeven of many U.S. shale plays. EBITDA margins for ExxonMobil Guyana Limited hit 58% in 2024.

It’s difficult to dispute these numbers in an era when big oil's critics argue the sector faces structural decline.

Chevron's $53 billion bet is paying offFor Chevron, the acquisition of Hess, which closed in July 2025, was essentially a gamble to gain a foothold in Guyana, a move critical to the company’s long-term growth ambitions.

The timing now appears to favor Chevron. Production from the block reached 900,000 barrels per day in November 2025, a milestone achieved just a decade after the first discovery here. Given the complexity of deepwater projects, industry experts see this as an extraordinary achievement.

A fourth floating production, storage, and offloading (FPSO) vessel, the ONE GUYANA, was commissioned in mid-2025, ramping up Chevron's overall production to a record high.

Today's Change

(

0.63

%) $

1.17

Current Price

$

186.99

The growth runway looks lucrativeBut beyond the companies' profits last year, the oilfield is expected to generate far greater profits in the coming years.

ExxonMobil intends to develop seven major projects on the Stabroek block with a combined investment exceeding $60 billion. The fifth and sixth projects, Uaru and Whiptail, are anticipated to begin production in 2026 and 2027, respectively, at approximately 250,000 barrels per day each.

The company is also expecting production from its seventh development, the $6.8 billion Hammerhead project, to begin in 2029.

Currently, ExxonMobil is awaiting regulatory approval for its eighth development, Longtail. Once approved, the total installed production capacity of the Stabroek block would reach 1.7 million barrels per day — more than the current output of OPEC members Libya and Nigeria.

The company estimates production capacity could exceed 1.2 million barrels per day by 2027, reaching 1.7 million barrels per day by 2030.

A project that boosts dividend growth Guyana is emerging as perhaps one of the most influential upstream stories globally within energy – a place where two American supermajor oil companies are already generating billions in profit from an oilfield that is still very much in the early stages of its productive life.

However, there is an essential fact that investors need to recognize: Guyana is not an isolated trade. A share of profit from this lucrative oilfield is via two of the most investor-friendly balance sheets in the S&P 500.

ExxonMobil, for example, has delivered 43 consecutive years of annual dividend increases and plans to repurchase $20 billion worth of shares this year. Chevron, on the other hand, has increased its dividend payments for 39 consecutive years, and its dividend currently yields 3.81%. Both ExxonMobil and Chevron are essentially ideal candidates for income-seeking investors.

Today's Change

(

0.28

%) $

0.41

Current Price

$

147.01

What’s in it for investors?The investor takeaway is this: Guyana is a long-duration, low-cost oilfield that‌’s profitable for both companies across a wide range of oil price scenarios.

ExxonMobil's 2030 corporate plan targets $25 billion in earnings growth and $35 billion in cash flow growth versus 2024 levels without raising capital spending, with Guyana, the Permian Basin, and liquified natural gas (LNG) projects in Papua New Guinea and Mozambique expected to make up about 65% of company-wide production volumes by 2030 — which means retail investors are buying a portfolio, not a single asset.

Investors looking to build a diversified portfolio of energy investments that are structurally advantaged amid volatile oil prices should consider ExxonMobil and Chevron. These two are arguably the best dividend oil stocks to invest in, with Guyana becoming increasingly central to their investment cases.

Key Takeaways Chevron's Tengiz expansion added about 260,000 barrels/day, lifting capacity to roughly 1M BOE/d.CVX expects TCO to support production growth in 2025 and 2026 and free cash flow through 2030.Chevron received a $1B TCO loan repayment in Q1 2026 and expects more repayments this year. Chevron Corporation’s (CVX - Free Report) 50% stake in Tengizchevroil (TCO), which operates the giant Tengiz and Korolev oil fields in Kazakhstan, is one of the company’s most valuable international upstream investments. TCO is a key contributor to Chevron’s reserve base, with Kazakhstan accounting for nearly 11% of the company’s proved reserves. The asset recently entered a new growth phase following the completion of the Future Growth Project (FGP) and Wellhead Pressure Management Project in 2025.

The FGP increased Tengiz crude production capacity by approximately 260,000 barrels per day, lifting total gross production capacity to around 1 million barrels of oil equivalent per day (BOE/d). This expansion has become a major driver of Chevron’s production growth, contributing significantly to the company’s 2025 output increase and expected growth in 2026. Management views TCO as a cornerstone asset supporting long-term production and free cash flow growth through 2030.

TCO is also transitioning from a capital-intensive project to a cash-generating asset. Chevron has provided substantial financing for its expansion and received a $1 billion loan repayment in the first quarter of 2026. It also expects additional repayments during the year, further boosting cash flow.

Although higher depreciation expenses and weaker commodity realizations temporarily pressured earnings in 2025, TCO’s long-term value proposition remains strong. The project provides large-scale, low-cost production growth, high-margin barrels, rising free cash flow and meaningful capital returns. As a result, TCO is expected to be one of Chevron’s largest contributors to cash generation and shareholder value creation over the remainder of the decade.

Other Oil Majors Operating in KazakhstanExxon Mobil Corporation (XOM - Free Report) is a major international investor in Kazakhstan’s energy industry, playing a key role in the development of the country’s vast oil and gas resources. Through its local subsidiaries, including ExxonMobil Kazakhstan Inc., the company collaborates closely with the Kazakh government and national oil company, KazMunayGas, to advance exploration, production and transportation activities. A cornerstone of ExxonMobil’s presence in the country is its 25% stake in the TCO joint venture, which operates the world-class Tengiz oil field located along the northeastern coast of the Caspian Sea, one of Kazakhstan’s most significant energy assets.

TotalEnergies SE (TTE - Free Report) has established a strong presence in Kazakhstan through a balanced energy strategy that combines large-scale oil and gas operations with growing investments in renewable energy. The company is a key contributor to the nation’s hydrocarbon production and supports Kazakhstan’s position as a major global energy supplier. TotalEnergies owns a 16.81% interest in the North Caspian Project’s Kashagan field, one of the world’s largest offshore oil developments in the Caspian Sea. At the same time, TTE is advancing Kazakhstan’s energy transition through the Mirny Project, a major renewable energy initiative aligned with the country’s 2060 net-zero emissions target.

CVX’s Price Performance, Valuation & EstimatesShares of Chevron have gained 26% in the past six months compared with the Oil/Energy sector’s growth of 20.6%.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for CVX’s 2026 earnings is pegged at $15.74 per share, indicating 115.9% year-over-year growth. The positive earnings estimate outlook makes the stock attractive for investors.

Image Source: Zacks Investment Research

From a valuation perspective — in terms of forward price-to-earnings ratio — Chevron is trading at a premium compared with the industry average.

Image Source: Zacks Investment Research

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Chevron is continuing to look at new ​opportunities in the Middle ‌East and may have more exposure to the region in ​the future, Chief Executive Officer ​Mike Wirth said on Friday.

Key Takeaways Chevron, YPF and Pluspetrol are expected to ink contracts for TGS' $3B Argentina NGL project.The partners are expected to take up about 80% of the project's capacity, lifting FID prospects.TGS' project could support Vaca Muerta growth and Argentina's push to reduce energy imports. Chevron Corporation (CVX - Free Report) is reportedly set to partner with two Argentine energy players, namely YPF and Pluspetrol, to ink new contracts with Transportadora de Gas del Sur (TGS - Free Report) for a natural gas liquids (NGLs) project in Argentina. The contract entails supplying natural gas for the proposed $3 billion project led by TGS.

The report mentioned that Chevron, YPF and Pluspetrol are expected to take up approximately 80% of the project’s capacity. The signing of these contracts significantly increases the likelihood of the project reaching a final investment decision. The project involves converting natural gas, including the gas extracted alongside oil from the producing wells, into high-value liquids such as butane and propane. The higher value natural gas liquids produced can then be exported to international markets.

In recent years, Argentina’s Vaca Muerta shale has gained significant recognition as one of the world’s largest unconventional gas reserves, and several companies, including Chevron, are planning to expand their presence in the shale basin. The liquids project, developed by TGS, is one of many processing and export ventures expected to boost production from the Vaca Muerta shale and help the country become an energy supplier over the coming years.

Notably, these projects will help Argentina reduce its dependence on energy imports and boost foreign exchange reserves. TGS has previously stated that it will finance a part of this multi-million dollar project using its own capital. For Chevron, this deal stands to expand its footprint in Argentina’s booming shale industry and benefit from the shale basin's significant resource potential.

Zacks Rank and Key PicksCVX currently carries a Zacks Rank #3 (Hold) while TGS carries a Zacks Rank #2 (Buy).

Some better-ranked stocks from the energy sector are Cenovus Energy (CVE - Free Report) and W&T Offshore (WTI - Free Report) . While Cenovus sports a Zacks Rank #1 (Strong Buy) at present, W&T Offshore carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cenovus Energy Inc. is a Canadian integrated energy company with operations spanning the upstream, midstream and downstream sectors. The company is involved in exploration and production from its low-cost oil sands and heavy oil assets in Canada. The strategic MEG Energy acquisition is expected to boost Cenovus Energy's production levels in 2026.

W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company’s recent acquisition of six shallow-water fields in the Gulf of America boosts its future production prospects, which is expected to enhance its revenues. 

The Zacks Oil and Gas - Refining & Marketing industry looks well placed for continued strength. U.S. refiners are benefiting from reliable access to domestic and Canadian crude supplies, which gives them an edge when global oil flows face disruptions. Product inventories also remain tight, especially for diesel, gasoline and jet fuel, while demand from travel, freight, agriculture and exports stays firm. That mix can support pricing power and refining margins. The industry’s outlook is further backed by a strong Zacks Rank, improving earnings estimates and solid one-year performance versus the broader energy sector and the S&P 500. Valuation also remains reasonable, with the group trading below both the sector and market on EV/EBITDA. In this favorable setting, flexible refiners with strong operations and shareholder-friendly strategies stand out. Valero Energy (VLO - Free Report) , Phillips 66 (PSX - Free Report) and HF Sinclair (DINO - Free Report) look especially attractive, making them excellent investment options.

Industry Overview The Zacks Oil and Gas - Refining & Marketing industry consists of companies involved in selling refined petroleum products (including heating oil, gasoline, jet fuel, residual oil, etc.) and a plethora of non-energy materials (like asphalt, road salt, clay and gypsum). Some companies operate refined product terminals, storage facilities and transportation services. The primary activity of these firms involves purchasing crude or other feedstocks and processing them into a wide variety of refined products. Refining margins are extremely volatile and generally reflect the state of petroleum product inventories, demand for refined products, imports, regional differences and capacity utilization in the industry. Other major determinants of refining profitability are the light/heavy and sweet/sour spreads. Refining companies are also prone to unplanned outages.

3 Trends Defining the Oil and Gas - Refining & Marketing Industry's Future Reliable U.S. Supply is Becoming a Bigger Advantage: Refiners with access to secure North American crude supplies are in a better position when global oil flows are disrupted. While some overseas refineries may struggle with crude availability or shipping delays, many U.S. refiners can keep running because they are linked to domestic and Canadian supply networks. This matters because steady operations help the industry meet demand for gasoline, diesel and jet fuel when global markets are tight. In simple terms, a reliable supply can turn market stress into an opportunity for stronger margins.

Low Product Inventories Can Support Refining Margins: Demand for transportation fuels remains fairly resilient, even with higher prices. At the same time, inventories of products like diesel, gasoline and jet fuel are tight in several markets. This creates a favorable setup for refiners because buyers still need fuel, but supply is not easy to rebuild quickly. Jet fuel and distillates appear especially strong, helped by travel, freight, agriculture and export demand. When inventories are low and replacement supply is limited, refiners usually have better pricing power. That can support industry earnings through the current cycle.

Flexibility is Becoming More Valuable Than Size Alone: The best-positioned refiners are not just running large plants. They are also adjusting what they produce based on market needs. When jet fuel is short, they can shift more output toward jet. When gasoline demand improves, they can raise gasoline yields. When heavy crude is discounted, complex refineries can process more of it and capture better economics. This flexibility helps the industry respond quickly to changing crude prices, product shortages and regional imbalances. In a volatile market, the ability to change the product mix can protect margins and improve cash generation.

Zacks Industry Rank Indicates Positive Outlook The Zacks Oil and Gas - Refining & Marketing is a 16-stock group within the broader Zacks Oil - Energy sector. The industry currently carries a Zacks Industry Rank #7, which places it in the top 3% of 245 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates fairly strong near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

The industry’s position in the top 50% of the Zacks-ranked industries is a result of improving earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are becoming optimistic about this group’s earnings growth potential. As a matter of fact, the industry’s earnings estimates for 2026 have gone up 65.7% in the past year.

Considering the encouraging dynamics of the industry, we will present a few stocks that you may want to consider for your portfolio. But it’s worth taking a look at the industry’s shareholder returns and current valuation first.

Industry Outperforms Sector & S&P 500 The Zacks Oil and Gas - Refining & Marketing industry has fared better than the broader Zacks Oil - Energy Sector as well as the Zacks S&P 500 composite over the past year.

The industry has gone up 72.3% over this period compared with the broader sector’s increase of 50.7%. Meanwhile, the S&P 500 has gained 33.2%.

One-Year Price Performance

Industry's Current Valuation Since oil and gas companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio. This is because the valuation metric takes into account not just equity but also the level of debt. For capital-intensive companies, EV/EBITDA is a better valuation metric because it is not influenced by changing capital structures and ignores the effect of noncash expenses.

On the basis of the trailing 12-month enterprise value-to EBITDA (EV/EBITDA), the industry is currently trading at 6.40X, significantly lower than the S&P 500’s 17.61X. It is also below the sector’s trailing 12-month EV/EBITDA of 7.19X.

Over the past five years, the industry has traded as high as 6.42X and as low as 1.77X, with a median of 3.61X, as the chart below shows.

Trailing 12-Month Enterprise Value-to-EBITDA (EV/EBITDA) Ratio (Past Five Years)

3 Stocks to Buy Valero Energy: Valero Energy is a major independent energy company focused on liquid transportation fuels. It operates 14 refineries with about 3 million barrels per day of high-complexity throughput capacity, supported by logistics and wholesale networks across key markets. The Zacks Rank #1 (Strong Buy) company also runs 12 ethanol plants with 1.7 billion gallons of annual capacity.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Beyond refining, Valero is growing in low-carbon fuels through Diamond Green Diesel, which produces renewable diesel and sustainable aviation fuel from recycled feedstocks such as used cooking oil and animal fats. Its strategy centers on disciplined spending, reliable operations, cost control and steady shareholder returns.

The Zacks Consensus Estimate for 2026 earnings of VLO indicates 126.3% growth. It beat the Zacks Consensus Estimate for earnings in each of the last four quarters, with the average being 28%. The company’s shares have increased 116.7% in a year.

Price and Consensus: VLO

Phillips 66: Phillips 66 is an integrated energy company with operations spanning midstream, chemicals, refining, marketing, specialties and renewable fuels. Its asset base connects supply from the wellhead to end consumers, supported by reliable feedstocks, strong operations and access to premium markets across more than 80 countries.

This #1 Ranked company trades large volumes of crude, clean products, NGLs, renewable feedstocks and natural gas, helped by a broad commercial network and global shipping reach. In first-quarter 2026, PSX reported earnings of $207 million and returned $778 million to its shareholders, while staying focused on disciplined spending, debt reduction and steady dividends.

Phillips 66’s expected EPS growth rate for three to five years is currently 38.6%, which compares favorably with the industry's growth rate of 26.4%. The company beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 67.8%. Shares of the company have gained 70.8% in a year.

Price and Consensus: PSX

HF Sinclair: HF Sinclair is a Dallas-based energy company operating across refining, marketing, midstream, lubricants and renewables. It runs seven refineries with 678,000 barrels per day of capacity across the Mid-Continent, West and Pacific Northwest regions. The Zacks Rank #1 company also owns a broad pipeline, storage and terminal network that supports fuel movement across key U.S. markets.

Its well-known Sinclair brand reaches over 1,700 branded retail sites, while its lubricants business sells products in more than 80 countries. HF Sinclair is also building scale in renewable diesel, with about 380 million gallons of annual capacity, supporting cleaner fuel demand and long-term growth.

HF Sinclair has a market capitalization of nearly $13 billion. DINO beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 203.6%. The Zacks Consensus Estimate for HF Sinclair’s 2026 earnings per share indicates 40.5% year-over-year growth. Shares of DINO have gained 127.8% in a year.

Price and Consensus: DINO

Phillips 66 is well-positioned for a significant windfall from elevated crack spreads driven by global supply disruptions and the Iran War. Refining margins surged to $10.11/barrel, with spreads near $60, potentially delivering $7B+ cumulative windfall through 2027, or ~$20/share. Operational improvements and cost reductions, alongside a 50% capital return policy, support robust shareholder returns and accelerated debt reduction.

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced that the Board of Directors has appointed Greg Hayes to serve as lead independent director, effective immediately.

“We are pleased to have Greg step into the role of Lead Independent Director," said Mark Lashier, Chairman and Chief Executive Officer of Phillips 66. “His distinguished leadership experience and deep knowledge of Phillips 66 position him well for this responsibility. I look forward to his leadership.”

As previously disclosed, Glenn Tilton and Marna Whittington did not stand for re-election at Phillips 66’s Annual Meeting of Shareholders and accordingly retired from the Board at the end of their terms. Doug Terreson will succeed Whittington as Chair of the Audit and Finance Committee.

Tilton, who served as Lead Independent Director, echoed Lashier’s praise for Hayes, “Greg’s sound and practical perspectives have been valuable assets to the Board over the past four years. I have enjoyed working with him and have full confidence in his ability to serve as Lead Independent Director.”

“I want to thank Glenn and Marna for their substantial contributions to the Board and for their years of dedicated service to Phillips 66,” said Hayes. “Looking ahead, the Board is confident in our strategy and ability to drive consistent, compelling value for our shareholders.”

About Phillips 66

Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company's portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

Phillips 66 is rated Buy, with all business segments generating strong profits and benefiting from a favorable refining upcycle. PSX's operational improvements, supply rationalizations, and global inventory depletion position it for higher and more sustainable cash generation than previous cycles. Despite recent debt accumulation from commodity volatility, PSX expects normalization and plans to retire $8B in debt, targeting $17B net debt by 2027.

CompaniesMay 18 (Reuters) - Refiner Phillips 66 (PSX.N), opens new tab said on Monday it would move ahead with the ​Zeus Gas Plant in the Permian Basin and a ‌third Coastal Bend Fractionator in Texas, expanding its network to capture growing volumes of gas and natural gas liquids from the top U.S. shale field.

Shares ​of the company were up 2.3% in premarket trading.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

The ​Zeus Gas Plant will have the capacity to process ⁠300 million cubic feet per day of gas and will include ​the new Midland Express pipeline, the company said.

The roughly 45-mile, 20-inch ​pipeline will connect Phillips 66's Permian Basin gathering systems and move up to 230 million cubic feet per day of raw natural gas from the field.

The ​third Coastal Bend Fractionator, previously called Corpus Christi Fractionator, will have a capacity ​of 100,000 barrels per day.

Both projects are expected to start operations in 2028.

A ‌fractionator ⁠separates mixed natural gas liquids into individual products such as ethane, propane and butane, allowing them to be marketed, transported or exported separately.

The projects are expected to support rising production from the Permian ​Basin by adding ​gas processing ⁠and NGL fractionation capacity. Phillips 66 said they would help move growing volumes through its integrated system ​and connect supply to downstream assets and premium ​markets.

Phillips ⁠66 has been pushing to expand its midstream footprint as rising Permian Basin production drives demand for more gas processing, pipeline and natural liquids ⁠infrastructure.

Setting ​up the Zeus Gas Plant and the third ​Coastal Bend Fractionator fall within the range of the company's previously announced capital spending plan of $2.0 billion ​to $2.5 billion.

Reporting by Dharna Bafna in Bengaluru; Editing by Leroy Leo

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Phillips 66 (PSX - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Phillips 66 currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if PSX is a promising momentum pick, let's examine some Momentum Style elements to see if this oil refiner holds up.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For PSX, shares are up 2.7% over the past week while the Zacks Oil and Gas - Refining and Marketing industry is up 2.68% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 12.68% compares favorably with the industry's 12.68% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of Phillips 66 have risen 13.13%, and are up 40.14% in the last year. In comparison, the S&P 500 has only moved 8.69% and 26.52%, respectively.

Investors should also pay attention to PSX's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. PSX is currently averaging 2,555,843 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with PSX.

Over the past two months, 8 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost PSX's consensus estimate, increasing from $11.76 to $17.64 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that PSX is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Phillips 66 on your short list.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Let's take a look at what these Wall Street heavyweights have to say about Phillips 66 (PSX - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Phillips 66 currently has an average brokerage recommendation (ABR) of 1.93, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 21 brokerage firms. An ABR of 1.93 approximates between Strong Buy and Buy.

Of the 21 recommendations that derive the current ABR, 11 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 52.4% and 9.5% of all recommendations.

Brokerage Recommendation Trends for PSX

Check price target & stock forecast for Phillips 66 here>>>

The ABR suggests buying Phillips 66, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.

Should You Invest in PSX?In terms of earnings estimate revisions for Phillips 66, the Zacks Consensus Estimate for the current year has increased 14% over the past month to $17.64.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Phillips 66. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Phillips 66 may serve as a useful guide for investors.

In the latest trading session, Phillips 66 (PSX - Free Report) closed at $180.24, marking a +2.48% move from the previous day. This move outpaced the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.42%.

Shares of the oil refiner witnessed a loss of 0.18% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.92%, and underperforming the S&P 500's gain of 6.32%.

The investment community will be paying close attention to the earnings performance of Phillips 66 in its upcoming release. The company is forecasted to report an EPS of $5.83, showcasing a 144.96% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $35.36 billion, reflecting a 5.49% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $17.64 per share and a revenue of $140.94 billion, indicating changes of +173.91% and +3.21%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.74% upward. At present, Phillips 66 boasts a Zacks Rank of #1 (Strong Buy).

Looking at valuation, Phillips 66 is presently trading at a Forward P/E ratio of 9.97. For comparison, its industry has an average Forward P/E of 9.1, which means Phillips 66 is trading at a premium to the group.

One should further note that PSX currently holds a PEG ratio of 0.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Refining and Marketing industry was having an average PEG ratio of 0.36.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Phillips 66 (PSX - Free Report) closed the most recent trading day at $179.00, moving -2.41% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.26%. Elsewhere, the Dow saw an upswing of 0.17%, while the tech-heavy Nasdaq depreciated by 0.97%.

The oil refiner's stock has climbed by 4.6% in the past month, exceeding the Oils-Energy sector's gain of 0.73% and the S&P 500's gain of 0.23%.

The upcoming earnings release of Phillips 66 will be of great interest to investors. It is anticipated that the company will report an EPS of $5.83, marking a 144.96% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $35.36 billion, up 5.49% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.64 per share and revenue of $140.94 billion. These totals would mark changes of +173.91% and +3.21%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Phillips 66. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.41% higher. Phillips 66 presently features a Zacks Rank of #1 (Strong Buy).

From a valuation perspective, Phillips 66 is currently exchanging hands at a Forward P/E ratio of 10.4. This expresses a premium compared to the average Forward P/E of 9.76 of its industry.

We can also see that PSX currently has a PEG ratio of 0.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Refining and Marketing industry stood at 0.38 at the close of the market yesterday.

The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 20, this industry ranks in the top 9% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

EL SEGUNDO, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein CompanyTM (the “Company” or “Beyond Meat”), today reported financial results for its first quarter ended March 28, 2026.

First Quarter 2026 Financial Highlights1

Net revenues were $58.2 million, a decrease of 15.3% year-over-year.Gross profit was $2.0 million, or gross margin of 3.4%, compared to gross loss of $6.9 million, or gross margin of -10.1%, in the year-ago period. Gross profit and gross margin included $0.5 million in expenses related to the cessation of the Company’s operational activities in China, compared to $0.9 million in the year-ago period. Loss from operations was $41.1 million, or operating margin of -70.6%, compared to loss from operations of $64.4 million, or operating margin of -93.6%, in the year-ago period. Loss from operations included the following charges recorded in operating expenses: $3.7 million in incremental share-based compensation expense related to the Company’s convertible debt exchange; $0.8 million in certain non-routine SG&A expenses; $0.4 million in amortization of costs related to a partial lease termination of a portion of the Company’s campus headquarters building in El Segundo, California (the “Campus Headquarters”); and $0.2 million in incremental legal and other fees and expenses associated with arbitration proceedings related to a previously-disclosed contractual dispute with a former co-manufacturer, compared to $4.6 million in the year-ago period. Net loss was $28.5 million, compared to net loss of $61.1 million in the year-ago period. Net loss per common share was $0.06, compared to net loss per common share of $0.80 in the year-ago period.Adjusted EBITDA was a loss of $27.8 million, or -47.7% of net revenues, compared to an Adjusted EBITDA loss of $50.5 million, or -73.5% of net revenues, in the year-ago period.
________________________________
1 This release includes references to non-GAAP financial measures. Refer to “Non-GAAP Financial Measures” later in this release for the definitions of the non-GAAP financial measures presented and a reconciliation of these measures to their closest comparable GAAP measures.

Beyond Meat President and CEO Ethan Brown commented, “This quarter marked a decisive broadening of our Company aperture to include the rapidly growing functional food and beverage category. Even as we apply our brand, expertise and technology to adjacent markets, we remain highly focused on the performance of our core business, which we believe will deliver substantial long-term value. To this end, we are pleased to report significant operating expense improvement and our lowest quarterly cash use in over two years.” 

Brown continued, “We look forward to continuing this transformative work across the balance of the year.”

First Quarter 2026

Net revenues decreased 15.3% to $58.2 million in the first quarter of 2026, compared to $68.7 million in the year-ago period. The decrease in net revenues was primarily driven by a 19.5% decrease in volume of products sold, partially offset by a 5.4% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by lower sales of burger and chicken products to Quick Service Restaurant (“QSR”) customers in the international foodservice channel, and by weak category demand and reduced points of distribution in the U.S. retail and foodservice channels. The increase in net revenue per pound was primarily driven by changes in product sales mix and favorable changes in foreign currency exchange rates, partially offset by higher trade discounts.

U.S. retail channel net revenues decreased 15.3% to $26.6 million in the first quarter of 2026, compared to $31.4 million in the year-ago period. The decrease in U.S. retail channel net revenues was primarily driven by a 14.7% decrease in volume of products sold and a 0.6% decrease in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand and reduced points of distribution within certain channels. The decrease in net revenue per pound was primarily driven by higher trade discounts and price decreases of certain of the Company’s products, partially offset by changes in product sales mix.

U.S. foodservice channel net revenues decreased 29.7% to $6.6 million in the first quarter of 2026, compared to $9.4 million in the year-ago period. The decrease in U.S. foodservice channel net revenues was primarily driven by a 31.8% decrease in volume of products sold, partially offset by a 3.0% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by weak category demand and reduced points of distribution, including the lapping of sales of chicken products to a QSR customer in the year-ago period. The increase in net revenue per pound was primarily driven by changes in product sales mix and, to a lesser extent, lower trade discounts, partially offset by price decreases of certain of the Company’s products.

International retail channel net revenues increased 8.1% to $13.7 million in the first quarter of 2026, compared to $12.7 million in the year-ago period. The increase in international retail channel net revenues was primarily driven by a 7.8% increase in net revenue per pound and a 0.3% increase in volume of products sold. The increase in net revenue per pound was primarily driven by favorable changes in foreign currency exchange rates and price increases of certain of the Company’s products, partially offset by higher trade discounts. The increase in volume of products sold was primarily driven by improved demand and limited distribution gains in European markets, partially offset by certain distribution losses in Canada.

International foodservice channel net revenues decreased 25.9% to $11.3 million in the first quarter of 2026, compared to $15.3 million in the year-ago period. The decrease in international foodservice channel net revenues was primarily driven by a 32.6% decrease in volume of products sold, partially offset by a 10.2% increase in net revenue per pound. The decrease in volume of products sold was primarily driven by lower sales of burger and chicken products to certain QSR customers. The increase in net revenue per pound was primarily driven by favorable changes in foreign currency exchange rates and lower trade discounts, partially offset by changes in product sales mix.

Net revenues by channel (unaudited):

The following table presents the Company’s net revenues by channel for the periods presented:

  Three Months Ended Change(in thousands) March 28, 2026 March 29, 2025 Amount %U.S.:        Retail $26,554 $31,360 $(4,806) (15.3)%Foodservice  6,618  9,413  (2,795) (29.7)%U.S. net revenues  33,172  40,773  (7,601) (18.6)%International:        Retail  13,709  12,682  1,027  8.1%Foodservice  11,325  15,276  (3,951) (25.9)%International net revenues  25,034  27,958  (2,924) (10.5)%Net revenues $58,206 $68,731 $(10,525) (15.3)%
Volume of products sold by channel (unaudited):

The following table presents the Company’s consolidated volume of products sold in pounds for the periods presented:

  Three Months Ended Change(in thousands) March 28, 2026 March 29, 2025 Amount %U.S.:        Retail 4,899 5,740 (841) (14.7)%Foodservice 1,076 1,578 (502) (31.8)%International:        Retail 2,672 2,664 8  0.3%Foodservice 3,184 4,724 (1,540) (32.6)%Volume of products sold 11,831 14,706 (2,875) (19.5)%
Gross profit in the first quarter of 2026 was $2.0 million, or gross margin of 3.4%, compared to gross loss of $6.9 million, or gross margin of -10.1%, in the year-ago period. Gross profit and gross margin in the first quarter of 2026 included $0.5 million in expenses related to the cessation of the Company’s operational activities in China, compared to $0.9 million in the year-ago period. Additionally, gross profit and gross margin in the first quarter of 2026 were positively impacted by decreased cost of goods sold per pound and by increased net revenue per pound. The decrease in cost of goods sold per pound primarily reflected lower inventory provision and reduced manufacturing expenses, including depreciation, partially offset by increased materials costs.

Operating expenses were $43.1 million in the first quarter of 2026, compared to $57.4 million in the year-ago period. Operating expenses in the first quarter of 2026 included $3.7 million in incremental share-based compensation expense related to the Company’s convertible debt exchange, $0.8 million in certain non-routine SG&A expenses, $0.4 million in amortization of costs related to a partial lease termination of a portion of the Company’s Campus Headquarters, and $0.2 million in incremental legal and other fees and expenses associated with arbitration proceedings related to a contractual dispute with a former co-manufacturer, compared to $4.6 million in the year-ago period. Notwithstanding these items, the decrease in operating expenses compared to the first quarter of 2025 was primarily driven by lower product donation costs, lower legal expenses and lower salary and related expenses.

Loss from operations in the first quarter of 2026 was $41.1 million, compared to $64.4 million in the year-ago period. The reduction in loss from operations was driven by the decrease in operating expenses and the increase in gross profit.

The following table summarizes certain charges recorded in the Company’s consolidated statement of operations for the first quarter of 2026 (unaudited):

(in thousands) Three Months Ended March 28, 2026Charges recorded in cost of goods sold  Expenses related to cessation of operational activities in China $546Total charges recorded in cost of goods sold $546   Charges recorded in operating expenses  Incremental non-cash share-based compensation expense $3,695Certain non-routine SG&A expenses  838Amortization of costs related to partial lease termination  387Incremental legal expenses related to contractual dispute with former co-manufacturer 207Total charges recorded in operating expenses $5,127Total $5,673
Total other income, net, was $12.6 million in the first quarter of 2026, compared to total other income, net, of $3.3 million in the year-ago period. The increase in total other income, net, was primarily due to a non-cash gain from the remeasurement of derivative liability and gain on debt extinguishment, partially offset by an increase in interest expense related to the Company’s delayed draw term loan facility and net realized and unrealized foreign currency transaction losses due to unfavorable changes in foreign currency exchange rates of the Euro.

Net loss was $28.5 million in the first quarter of 2026, compared to net loss of $61.1 million in the year-ago period. Net loss per common share was $0.06, compared to net loss per common share of $0.80 in the year-ago period. The decrease in net loss in the first quarter of 2026 was primarily driven by the decrease in loss from operations and the increase in total other income, net.

Adjusted EBITDA was a loss of $27.8 million, or -47.7% of net revenues, in the first quarter of 2026, compared to an Adjusted EBITDA loss of $50.5 million, or -73.5% of net revenues, in the year-ago period.

Balance Sheet and Cash Flow Highlights

The Company’s cash and cash equivalents balance, including restricted cash, was $205.8 million and total outstanding carrying value of debt, net of debt discount, was $411.6 million as of March 28, 2026, which included the total undiscounted future cash flows of the new 2030 Notes recorded at the completion of the Company’s convertible debt exchange. Net cash used in operating activities was $5.0 million in the three months ended March 28, 2026, compared to $26.1 million in the year-ago period. Capital expenditures totaled $2.5 million in the three months ended March 28, 2026, compared to $4.5 million in the year-ago period. Net cash used in investing activities was $1.8 million in the three months ended March 28, 2026, compared to $4.1 million in the year-ago period. Net cash used in financing activities was $4.5 million in the three months ended March 28, 2026, compared to $0.6 million in the year-ago period.

Subsequent to the three months ended March 28, 2026, an additional $62.6 million in aggregate principal amount of 2030 Notes were converted into shares of the Company’s common stock and the Company issued 52,092,284 Conversion Shares to such converting noteholders and an aggregate of 3,869,808 anti-dilution restricted stock units to certain key employees.

Second Quarter 2026 Outlook

The Company continues to experience an elevated level of uncertainty and volatility within its operating environment, which has, and may continue to have, unforeseen impacts on the Company’s actual realized results. In light of this uncertainty, the Company is limiting its outlook to the following:

In the second quarter of 2026, net revenues are expected to be approximately $60 million to $65 million. Conference Call and Webcast

The Company will host a conference call today to discuss these results at 5:00 p.m. Eastern, 2:00 p.m. Pacific. Investors interested in participating in the live call can dial 412-902-4255. There will also be a simultaneous, live webcast available on the Investors section of the Company’s website at www.beyondmeat.com. The webcast will also be archived.

About Beyond Meat

Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein CompanyTM, is a plant protein company offering a portfolio of plant-based products made from simple ingredients without GMOs, no added hormones or antibiotics, and 0 mg of cholesterol per serving. Founded in 2009, Beyond Meat’s core products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat’s brand promise, Eat What You Love®, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based protein to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. Visit www.BeyondMeat.com and follow @BeyondMeat on Facebook, Instagram, Threads and LinkedIn.

Forward-Looking Statements

Certain statements in this release constitute “forward-looking statements" within the meaning of the federal securities laws, including statements related to the Company’s expectations with respect to its second quarter 2026 outlook, the long-term value of its core business, its strategic repositioning and expansion into adjacent product categories, and anticipated market receptivity.

Forward-looking statements are based on management's current opinions, expectations, beliefs, plans, objectives, assumptions and projections regarding financial performance, prospects, future events and future results, including ongoing uncertainty related to macroeconomic issues, including high inflation and interest rates, prolonged, weakening demand in the plant-based meat category, ongoing concerns about the likelihood of a recession and increased competition, among other matters, and involve known and unknown risks that are difficult to predict. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “project,” “predict,” “outlook,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which or whether, such performance or results will be achieved. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Beyond Meat believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. There are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, but not limited to: a further decrease in demand, and the underlying factors negatively impacting demand, in the plant-based meat category, including the exacerbation of weakness in the category by macroeconomic trends; the success of our marketing initiatives and the ability to maintain and grow our brand awareness, maintain, protect and enhance our brand, or rebrand altogether, attract and retain new customers and maintain and grow our market share, particularly while we are seeking to reduce our operating expenses; the success of our strategic repositioning to Beyond The Plant Protein Company, including risks related to brand dilution or confusion, the failure to achieve meaningful consumer acceptance of an expanded portfolio of plant-based protein offerings across multiple categories and adjacencies, and the diversion of management time and financial resources from our existing business or other priorities; changes in the retail landscape, including our ability to maintain and expand our distribution footprint, the timing, success and level of trade and promotion discounts, our ability to maintain and grow market share and increase household penetration, repeat purchases, buying rates (amount spent per buyer) and purchase frequency, our ability to maintain and increase sales velocity of our products, and the timing and success of our efforts to expand distribution channels, such as our direct-to-consumer (DTC) channel, and planned new products or recently launched products; our ability to successfully innovate and commercialize new plant-based protein products, including in adjacent categories outside of our core, meat analogue offerings, such as our Beyond Immerse functional beverage line of sparkling plant-based protein drinks, and consumer acceptance of such new products; the sufficiency of our cash and cash equivalents to meet our liquidity needs, including estimates of our expenses, future revenues, capital expenditures and capital requirements; our ability to obtain additional equity and/or debt financing, the terms of any such financing, and our ability to continue to bolster our balance sheet, particularly because we no longer satisfy the eligibility requirements for use of a registration statement on Form S-3 and, as a result, are unable to access our ATM program; risks associated with our indebtedness, leverage and liquidity relating to our significant debt, including our ability to repay or refinance and otherwise satisfy our obligations under each of the Loan and Security Agreement, our 0% Convertible Senior Notes due 2027 (the “2027 Notes”) that remain outstanding and our 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (the “2030 Notes” and, together with the 2027 Notes, the “Notes”) issued in the exchange offer related to the 2027 Notes, which was completed on October 30, 2025 (the “Exchange Offer”), and our ability to comply with the covenants in the Loan and Security Agreement and respective indentures governing the Notes; our ability to raise the funds necessary to repurchase the Notes for cash, under certain circumstances, or to pay any cash amounts due under the Notes; the impact of the Exchange Offer on future availability of our pre-change net operating loss carryforwards and other tax attributes to offset our future net taxable income; the annual limitations on utilization of any remaining operating loss and tax credit carryforwards due to ownership change limitations provided by the Internal Revenue Code and similar state tax provisions, and the outcomes of any related audits or examinations; the significant dilution to our stockholders that resulted from the Exchange Offer and the additional dilution that will result if we exchange any portion of our outstanding Notes for equity, issue shares of our common stock with respect to the 2030 Notes (including any 2030 Notes issued as payment-in-kind interest on such 2030 Notes), including in connection with conversions of the 2030 Notes at our option or at the option of holders, upon equitization of the 2030 Notes, as payment of accrued interest in the form of common stock or in payment of certain make-whole payments on the 2030 Notes, in each case pursuant to the terms of the 2030 Notes, or if the lenders under the Loan and Security Agreement exercise their related warrants to purchase shares of our common stock (the “Warrants”), as further described herein; provisions in the respective indentures governing the Notes and in the Loan and Security Agreement delaying or preventing an otherwise beneficial takeover of us; and any adverse impact on our reported financial condition and results from the accounting methods for the Notes; our ability to remediate the existing material weaknesses in our internal control over financial reporting and maintain effective internal control over financial reporting and disclosure controls and procedures; risks and uncertainties related to failures to maintain effective internal control over financial reporting, and related to the identification of errors in our previously issued financial statements, and a potential need to restate financial statements in such instances; market price fluctuations in the price of our common stock, whether due to dilution, adverse business or financial performance or the perception of such adverse performance, failure to meet the Nasdaq continued listing requirement for minimum bid price or other Nasdaq listing requirements and the potential delisting of our common stock, or market and trading dynamics unrelated to our underlying business, operating and financial performance or prospects or macro or industry fundamentals which may not coincide in timing with the disclosure of news or developments by or affecting us, could cause the market price of our common stock to fluctuate dramatically or decline rapidly, regardless of any developments in our business or financial results; the impact of general economic conditions in the U.S. and international markets on us, our customers, our suppliers, our vendors and consumers, including concerns related to inflation, geopolitical and economic uncertainty and instability, a potential recession, the shutdown of the federal government including regulatory agencies, tariffs and trade wars, and the effects of those conditions on consumer spending; the impact of adverse and uncertain political conditions in the U.S. and international markets, such as greater restrictions on free trade through significant increases in tariffs on raw materials, ingredients, finished goods and other products and supplies imported into the United States and increased uncertainty surrounding international trade policy and regulations, trade wars, including through the implementation of retaliatory tariffs or related counter-measures, and the negative effects of anti-American sentiment, the conflict in the Middle East, as well as the impact of inflation and high interest rates on consumer behavior, including higher food, grocery, raw materials, transportation, energy, labor and fuel costs; risks and uncertainties related to identifying and executing our current and future cost-reduction initiatives, cost structure improvements, workforce reductions, executive leadership changes and other organizational changes, including realignment of reporting structures, and the timing and success of continuing to reduce operating expenses and achieving our profitability, cash flow and financial performance objectives; our ability to streamline operations and improve cost efficiencies, which could result in the contraction of our business and the continued implementation of significant cost cutting measures such as further downsizing, consolidating or exiting certain operations, including product lines, domestically and/or abroad; the timing and success of narrowing our commercial focus to certain anticipated growth opportunities; accelerating activities that prioritize gross margin expansion and cash generation, including as part of our review of our global operations initiated in 2023 (“Global Operations Review”); changes to our pricing architecture; cash-accretive inventory reduction initiatives; and further cost-reduction initiatives; our ability to successfully execute our Global Operations Review and any resulting strategic plans, including the exit or discontinuation of select product lines; the impact of non-cash charges such as provision for excess and obsolete inventory and potential additional impairment charges, write-offs, disposals and accelerated depreciation of fixed assets, and losses on sale and write-down of fixed assets and assets held for sale; further optimization of our manufacturing capacity and real estate footprint; workforce reductions; and the cessation of our operational activities in China in 2025; our ability to successfully execute the transformation office initiatives including, among other things, positioning the business for a more fundamental resizing of operating expenses, driving margin recovery, including through targeted investments in our facilities and supply chain cost reductions, reducing inventory and associated carrying costs through SKU rationalization and the discontinuation of certain product lines, and preserving cash and monetizing non-strategic or idle assets; our ability to meet our obligations under leases for our corporate offices, manufacturing facilities and warehouses, including matters relating to our Campus Headquarters including, without limitation, the ability to meet our obligations under our Campus Headquarters lease, as amended from time to time (the “Campus Lease”), the impact of workforce reductions or other cost-reduction initiatives on our space demands, the impact of the surrender of a portion of the existing premises, the impact of the sublease of a portion of the existing premises, other efforts to develop, repurpose or consolidate our use of our leased premises, and the timing and success of surrendering, subleasing, assigning or otherwise transferring, developing or repurposing the remaining used or excess leased space or negotiating additional partial lease terminations and/or subleases or other dispositions of our Campus Headquarters on terms advantageous to us or at all, including any potential additional impairment charges that may result; reduced consumer confidence and changes in consumer spending, including spending to purchase our products, and negative trends in consumer purchasing patterns due to levels of consumers’ disposable income, credit availability and debt levels, and economic conditions, including due to potential recessionary and inflationary pressures, and geopolitical instability and wars; our inability to properly manage and ultimately sell our inventory in a timely manner, which has in the past and could in the future require us to sell our products through liquidation channels at lower prices, write-down or write-off excess or obsolete inventory, or increase inventory provision; ongoing and persistent declines in demand in the plant-based meat category and for our products, or strategic decisions that result in changes to our product portfolio, including the potential discontinuation of certain product lines through initiatives stemming from our transformation office and program or other strategic measures, which may require us to write-down or write-off excess or obsolete inventories; impairment charges, including due to any future changes in estimates, judgments or assumptions, failure to achieve forecasted operating results, due to weakness in the economic environment, demand for our products or other factors, changes in market conditions and declines in our publicly-quoted stock price and market capitalization, failure to sublease, assign or otherwise transfer any excess space or negotiate additional partial lease terminations and/or subleases or other dispositions of our Campus Headquarters or other facilities on terms advantageous to us or at all, and the cessation of our operational activities in China in 2025; our ability to accurately predict consumer taste preferences, trends and demand and successfully innovate, introduce and commercialize new products, including in new geographic markets; the effects of competitive activity from our market competitors, including through consolidation in the plant-based food industry or vertical consolidation of diversified food businesses with existing plant-based food businesses, and new market entrants, which may include companies with substantially greater financial resources than us; our ability to protect our brand against misinformation about our products and the plant-based meat category, real or perceived quality or health issues with our products, marketing campaigns aimed at generating negative publicity regarding our products and the plant-based meat category, including regarding the nutritional value of our products, and other issues that could adversely affect our brand and reputation; disruption to, and the impact of uncertainty in, our domestic and international supply chain, including labor shortages and disruption, shipping delays and disruption, the impact of tariffs on raw materials, ingredients, finished goods and other products and supplies imported into the U.S., and the impact of cyber incidents at suppliers and vendors; the impact of uncertainty as a result of doing business internationally, including as a result of the cessation of our operational activities in China in 2025; the volatility of or inability to access the capital markets, including due to macroeconomic factors, geopolitical tensions, trade policy uncertainty (including tariffs and retaliatory trade measures), or the outbreak or escalation of hostilities or war—for example, the ongoing war between Russia and Ukraine and the conflict in the Middle East, and their impacts on the surrounding areas and global economy; changes in the foodservice landscape, including the timing, success and level of marketing and other financial incentives to assist in the promotion of our products, our ability to maintain and grow market share and attract and retain new foodservice customers or retain existing foodservice customers, and our ability to introduce and sustain offering of our products on menus; the timing and success of distribution expansion and new product introductions, including the success of our DTC channel, and the timing and success of planned new products or recently launched products in increasing revenues and market share, including the success of our distribution partnership with Big Geyser for Beyond Immerse; our ability to differentiate and continuously create innovative products, respond to competitive innovation and achieve speed-to-market, including the timing and success of planned new products or recently launched products; the timing and success of strategic Quick Service Restaurant (“QSR”) partnership launches and limited time offerings resulting in permanent menu items and our ability to attract and retain QSR and other strategic customers; the outcomes of, and costs related to, legal or administrative proceedings, including any settlements, appeals from initial decisions or other developments in such proceedings, or new legal or administrative proceedings filed against us; foreign currency exchange rate fluctuations; the effectiveness of our business systems and processes; our estimates of the size of our market opportunities and ability to accurately forecast market conditions; our ability to effectively optimize our manufacturing and production capacity, and real estate footprint, including consolidating manufacturing facilities and production lines, exiting co-manufacturing arrangements or entering into new arrangements under terms that are ultimately beneficial to us and effectively managing capacity for specific products with shifts in demand; risks associated with underutilization of capacity which have in the past and could in the future give rise to increased cost of goods sold per pound, underutilization fees, termination fees and other costs to exit certain supply chain arrangements and product lines, and/or the write-down or write-off of certain equipment and other fixed assets and impairment charges, all of which could negatively impact gross margin, driving less leverage on fixed costs and delaying the speed at which cost savings initiatives positively impact our financial results; our ability to accurately forecast our future results of operations and financial goals or targets, including as a result of fluctuations in demand for our products and in the plant-based meat category generally, increased competition, and the impact of broader macroeconomic conditions and market uncertainty; our ability to accurately forecast demand for our products and manage our inventory, including the impact of customer orders ahead of holidays and the timing of customer promotions, shelf reset activities, and price increases as a result of tariffs or otherwise; customer and distributor changes and buying patterns, such as reductions in targeted inventory levels; and supply chain and labor disruptions, including due to the impact of cyber incidents at suppliers and vendors; our operational effectiveness and ability to fulfill orders in full and on time; variations in product selling prices and costs, the timing and success of changes to our pricing architecture, our ability to pass on price increases in full or at all, including due to the impact of tariffs and macroeconomic conditions, and the mix of products sold; our ability to successfully enter new geographic markets, manage our international business and comply with any applicable laws and regulations, including risks associated with doing business in foreign countries, and our ability to comply with the U.S. Foreign Corrupt Practices Act or other anti-corruption laws; the effects of global outbreaks of pandemics, epidemics or other public health crises, or fear of such crises; our ability to attract, maintain and effectively expand our relationships with key strategic foodservice partners; our ability to attract and retain our suppliers, distributors, vendors, co-manufacturers and customers; our ability to procure sufficient high-quality raw materials at competitive prices to manufacture our products; the availability of pea and other proteins and avocado oil that meet our standards; our ability to diversify the protein sources and avocado oil sources used for our products; our ability to successfully execute our strategic initiatives; the volatility associated with ingredient, packaging, transportation and other input costs, including due to the impact of tariffs and rising energy and fuel costs; our ability to keep pace with technological changes impacting the development of our products and implementation of our business needs; significant disruption in, or breach in security of our or our suppliers’ or vendors’ information technology systems, including any inability to detect or timely report any cybersecurity incidents, and resultant interruptions in service and any related impact on our reputation, including data privacy, and any potential impact on our supply chain, including on customer demand, order fulfillment and lost sales, and the resulting timing and/or amount of net revenues recognized; the ability of our transportation providers to ship and deliver our products in a timely and cost-effective manner; senior management and key personnel changes, the attraction, training and retention of qualified employees and key personnel, and our ability to maintain our company culture; risks related to use of a professional employer organization to administer human resources, payroll and employee benefits functions for certain of our international employees, and use of certain third party service providers for the performance of several business operations including payroll, human capital, supply chain optimization, financial reporting and accounting, and certain other management services; the impact of potential workplace hazards; the effects of natural or man-made catastrophic or severe weather events, including events brought on by climate change, particularly involving our or any of our co-manufacturers’ manufacturing facilities, our suppliers’ facilities or any other vital aspects of our supply chain; accounting estimates based on judgment and assumptions that may differ from actual results; changes in laws and government regulation, and their enforcement, affecting our business, including the U.S. Food and Drug Administration and the U.S. Federal Trade Commission governmental regulation, and state, local and foreign regulation; new or pending legislation, or changes in laws, regulations or policies of governmental agencies or regulators, both in the U.S. and abroad, affecting plant-based meat, the labeling, packaging or naming of our products, including requirements regarding nutrient content claims, or our brand name or logo; the failure of acquisitions and other investments to be efficiently integrated and produce the results we anticipate; risks inherent in investment in real estate; adverse developments affecting the financial services industry, including the potential failure of financial institutions with which we have deposits or other business relationships; the financial condition of, and our relationships with our suppliers, vendors, co-manufacturers, distributors, retailers and foodservice customers, and their future decisions regarding their relationships with us; our ability and the ability of our suppliers, vendors and co-manufacturers to comply with food safety, environmental or other laws or regulations and the impact of any non-compliance on our operations, brand reputation and ability to fulfill orders in full and on time; seasonality, including increased levels of grilling activity and higher levels of purchasing by customers ahead of holidays, customer shelf reset activity and the timing of product restocking by our retail customers; the impact of increased scrutiny from a variety of stakeholders, institutional investors and governmental bodies on environmental, social and governance (“ESG”) practices; our suppliers’ and our co-manufacturers’ ability to protect our proprietary technology, intellectual property and trade secrets adequately; the impact of changes in tax laws; and the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”) on April 9, 2026, the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 28, 2026 to be filed with the SEC, as well as other factors described from time to time in the Company’s filings with the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Such forward-looking statements are made only as of the date of this release. Beyond Meat undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events, changes in assumptions or otherwise, except to the extent required by applicable laws. If the Company does update one or more forward-looking statements, no inference should be made that it will make additional updates with respect to those or other forward-looking statements.

Non-GAAP Financial Measures

The Company refers to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release, including: Adjusted loss from operations, Adjusted operating margin, Adjusted net loss, Adjusted net loss per diluted common share, Adjusted EBITDA and Adjusted EBITDA as a % of net revenues. See “Non-GAAP Financial Measures” below for additional information and reconciliations of such non-GAAP financial measures.

Availability of Information on Beyond Meat’s Website and Social Media Channels

Investors and others should note that Beyond Meat routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Beyond Meat Investor Relations website. The Company also intends to use certain social media channels as a means of disclosing information about it and its products to consumers, and its customers, investors and the public (e.g., @BeyondMeat on Facebook, Instagram, Threads and LinkedIn. The information posted on social media channels is not incorporated by reference in this press release or in any other report or document we file with the SEC. While not all of the information that the Company posts to the Beyond Meat Investor Relations website or to social media accounts is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Beyond Meat to review the information that it shares at the “Investors” link located at the bottom of the Company’s webpage at https://investors.beyondmeat.com/investor-relations and to sign up for and regularly follow the Company’s social media accounts. Users may automatically receive email alerts and other information about the Company when enrolling an email address by visiting “Request Email Alerts” in the “Investors” section of Beyond Meat’s website at https://investors.beyondmeat.com/investor-relations.

Contacts
Media:
Shira Zackai
[email protected]

Investors:
Raphael Gross
[email protected]

Correction of Previously Issued Interim Unaudited Condensed Consolidated Financial Statements

During the fourth quarter and full year 2025 financial close procedures, the Company identified errors in its previously issued interim unaudited condensed consolidated financial statements for the three months ended March 29, 2025 relating to (i) inventory valuation and (ii) debt issuance costs. The Company determined that the errors identified were immaterial to its previously issued interim unaudited condensed consolidated financial statements for the three months ended March 29, 2025 and has corrected these errors prospectively in the interim unaudited condensed consolidated financial statements for the three months ended March 29, 2025 in accordance with Accounting Standards Codification 250, “Accounting Changes and Error Corrections.”

As a result, the comparative financial information for the three months ended March 29, 2025 included in the unaudited condensed consolidated financial statements and related non-GAAP reconciliations presented herein reflects these corrections and may differ from amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2025.

To assist investors in reconciling amounts previously reported to the “as corrected” amounts presented herein, the Company has included the following tables that summarize the affected line items and totals. Readers should review these tables together with the discussion above, the unaudited condensed consolidated financial statements included herein, and the additional detail in the Company’s Quarterly Report on Form 10‑Q for the quarter ended March 28, 2026, when filed with the SEC.   

Q1 2025 Condensed Consolidated Statements of Operations (Unaudited) — Previously Reported vs. As Corrected (Unaudited)         (in thousands) Three Months Ended March 29, 2025  As Previously Reported Inventory Valuation Debt Issuance Costs As CorrectedCost of goods sold $69,796  $5,861  $—  $75,657 Gross loss $(1,065) $(5,861) $—  $(6,926)Selling, general and administrative expenses $47,672  $—  $2,310  $49,982 Total operating expenses $55,134  $—  $2,310  $57,444 Loss from operations $(56,199) $(5,861) $(2,310) $(64,370)Loss before taxes $(52,905) $(5,861) $(2,310) $(61,076)Net loss $(52,916) $(5,861) $(2,310) $(61,087)Net loss per share available to common stockholders—basic and diluted $(0.69) $(0.08) $(0.03) $(0.80) Q1 2025 Condensed Consolidated Statement of Cash Flows (Unaudited) — Previously Reported vs. As Corrected (Unaudited)         (in thousands) Three Months Ended March 29, 2025  As Previously Reported Inventory Valuation Debt Issuance Costs As CorrectedNet loss $(52,916) $(5,861) $(2,310) $(61,087)Inventories $14,113  $5,861  $—  $19,974 Prepaid expenses and other current assets $(4,425) $—  $2,310  $(2,115)  BEYOND MEAT, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(In thousands, except share and per share data)
(unaudited)   Three Months Ended  March 28,
2026 March 29,
2025Net revenues $58,206  $68,731 Cost of goods sold  56,221   75,657 Gross profit (loss)  1,985   (6,926)Research and development expenses  5,220   7,462 Selling, general and administrative expenses  37,869   49,982 Total operating expenses  43,089   57,444 Loss from operations  (41,104)  (64,370)Other income (expense), net:    Interest expense  (6,732)  (1,024)Remeasurement of warrant liability  1,300   — Remeasurement of derivative liability  11,891   — Gain on debt extinguishment  6,060   — Other, net  119   4,318 Total other income, net  12,638   3,294 Loss before taxes  (28,466)  (61,076)Income tax expense  —   — Equity in losses of unconsolidated joint venture  16   11 Net loss $(28,482) $(61,087)Net loss per share available to common stockholders—basic and diluted $(0.06) $(0.80)Weighted average common shares outstanding—basic and diluted  455,272,616   76,194,916     BEYOND MEAT, INC. AND SUBSIDIARIESCondensed Consolidated Balance Sheets(In thousands, except share and per share data)(unaudited)  March 28,
2026 December 31,
2025Assets     Current assets:     Cash and cash equivalents$        191,005  $        203,890 Restricted cash, current4,350  4,350 Accounts receivable, net25,931  26,060 Inventory68,891  84,032 Prepaid expenses and other current assets11,233  13,758 Assets held for sale9,605  9,394 Total current assets311,015  341,484 Restricted cash, non-current10,401  9,291 Property, plant and equipment, net207,453  213,262 Operating lease right-of-use assets5,173  5,661 Prepaid lease costs, non-current41,156  40,931 Other non-current assets, net2,759  2,595 Investment in unconsolidated joint venture1,507  1,523 Total assets$        579,464  $        614,747 Liabilities and stockholders’ deficit:     Current liabilities:     Accounts payable$        22,585  $        20,525 2027 Notes29,459  — Current portion of operating lease liabilities2,124  2,132 Accrued expenses and other current liabilities11,706  8,975 Accrued litigation expenses38,900  38,900 Short-term finance lease liabilities4,245  4,385 Total current liabilities$        109,019  $        74,917 Long-term liabilities:     2027 Notes$—  $        29,459 2030 Notes, net300,503  308,404 Delayed draw term loans, net81,675  77,877 Delayed draw term loan warrants at fair value3,766  5,066 Operating lease liabilities, net of current portion3,526  4,059 Finance lease liabilities75,699  76,590 2030 Notes Embedded Derivative liability at fair value26,137  39,152 Other long-term liabilities222  220 Total long-term liabilities$        491,528  $        540,827 Commitments and contingencies     Stockholders’ deficit:     Preferred stock, par value $0.0001 per share—500,000 shares authorized, none issued and outstanding$—  $— Common stock, par value $0.0001 per share—3,000,000,000 shares authorized; 463,195,066 shares and 453,688,312 shares issued and outstanding at March 28, 2026 and December 31, 2025, respectively46  45 Additional paid-in capital1,037,320  1,029,308 Accumulated deficit(1,050,989) (1,022,507)Accumulated other comprehensive loss(7,460) (7,843)Total stockholders’ deficit$        (21,083) $        (997)Total liabilities and stockholders’ deficit$        579,464  $        614,747   BEYOND MEAT, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Cash Flows(In thousands)(unaudited)   Three months Ended  March 28,
2026 March 29,
2025Cash flows from operating activities:      Net loss $(28,482) $(61,087)Adjustments to reconcile net loss to net cash used in operating activities:      Depreciation and amortization 6,822  7,416 Non-cash lease expense 491  2,079 Share-based compensation expense 6,521  5,853 Provision for credit losses —  — Amortization of debt issuance costs and debt discount 1,958  984 Loss on sale of fixed assets 30  98 Equity in losses of unconsolidated joint venture 16  11 Change in common stock warrant liability (1,300) — Change in derivative liability (11,891) — Gain on debt extinguishment related to conversion (6,060) — Unrealized losses (gains) on foreign currency transactions 1,498  (3,571)Paid-in-kind interest 3,094  — Net change in operating assets and liabilities:      Accounts receivable (20) (6,038)Inventories 14,904  19,974 Prepaid expenses and other current assets 2,295  (2,115)Accounts payable 2,255  13,976 Accrued expenses and other current liabilities 2,756  (1,031)Prepaid lease costs, non-current 628  (1,768)Operating lease liabilities (543) (927)   Net cash used in operating activities $(5,028) $(26,146)Cash flows from investing activities:      Purchases of property, plant and equipment $(2,527) $(4,485)Proceeds from sale of fixed assets 1,002  348 Payment of security deposits (257) —    Net cash used in investing activities $(1,782) $(4,137)Cash flows from financing activities:      Payments of debt issuance costs —  (125)Principal payments under finance lease obligations (843) (244)Prepayment for non-commenced finance lease (926) — Payments of minimum withholding taxes on net share settlement of equity awards (2,728) (220)Net cash provided by (used in) financing activities $(4,497) $(589)Net decrease in cash, cash equivalents and restricted cash (11,307) (30,872)Cash, cash equivalents and restricted cash at the beginning of the period 217,531  145,554 Effect of foreign currency exchange rate changes on cash (468) 1,144 Cash, cash equivalents and restricted cash at the end of the period $205,756  $115,826 Supplemental disclosures of cash flow information:      Cash paid during the period for:      Interest $—  $— Taxes $—  $— Non-cash investing and financing activities:      Conversion of 2030 Notes to common stock $4,219  $— Non-cash additions to property, plant and equipment $471  $1,531 Non-cash addition to financing leases $—  $136  Non-GAAP Financial Measures

Beyond Meat uses the non-GAAP financial measures set forth below in assessing its operating performance and in its financial communications. Management believes these non-GAAP financial measures provide useful additional information to investors about current trends in the Company's operations and are useful for period-over-period comparisons of operations. In addition, management uses these non-GAAP financial measures to assess operating performance and for business planning purposes. Management also believes these measures are widely used by investors, securities analysts, rating agencies and other parties in evaluating companies in the Company’s industry as a measure of its operational performance. These non-GAAP financial measures should not be considered in isolation or as substitutes for the comparable GAAP measures. In addition, these non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies.

“Adjusted loss from operations” is defined as loss from operations adjusted to exclude, when applicable, costs attributable to special items, which are those items deemed not to be reflective of the Company’s ongoing normal business activities.

“Adjusted operating margin” is defined as Adjusted loss from operations divided by net revenues.

“Adjusted net loss” is defined as net loss adjusted to exclude, when applicable, costs attributable to special items, which are those items deemed not to be reflective of the Company’s normal business activities.

“Adjusted net loss per diluted common share” is defined as Adjusted net loss divided by the number of diluted common shares outstanding.

The Company considers Adjusted loss from operations, Adjusted operating margin, Adjusted net loss and Adjusted net loss per diluted common share to be useful indicators of operating performance because excluding special items allows for period-over-period comparisons of its ongoing operations. Adjusted net loss per diluted common share is a performance measure and should not be used as a measure of liquidity.

“Adjusted EBITDA” is defined as net income (loss) adjusted to exclude, when applicable, income tax expense (benefit), interest expense, depreciation and amortization expense, share-based compensation expense, non-cash charges related to the cessation of the Company’s operational activities in China, litigation-related accruals, remeasurement of warrant liability, remeasurement of derivative liability, and Other, net, including interest income, gain on debt extinguishment, and foreign currency transaction gains and losses.

“Adjusted EBITDA as a % of net revenues” is defined as Adjusted EBITDA divided by net revenues.

There are a number of limitations related to the use of Adjusted EBITDA and Adjusted EBITDA as a % of net revenues rather than their most directly comparable GAAP measures. Some of these limitations are:

Adjusted EBITDA excludes depreciation and amortization expense and, although these are non-cash expenses, the assets being depreciated may have to be replaced in the future increasing the Company’s cash requirements;Adjusted EBITDA does not reflect interest expense, or the cash required to service the Company’s debt, which reduces cash available to the Company;Adjusted EBITDA does not reflect income tax payments that reduce cash available to the Company;Adjusted EBITDA does not reflect share-based compensation expense and therefore does not include all of the Company’s compensation costs;Adjusted EBITDA does not reflect non-cash charges related to the cessation of the Company’s operational activities in China;Adjusted EBITDA does not reflect litigation-related accruals, which may, depending on the outcome of the underlying litigation, reduce cash available to the Company;Adjusted EBITDA does not reflect the non-cash impact of the remeasurement of warrant liability;Adjusted EBITDA does not reflect the non-cash impact of the remeasurement of derivative liability;Adjusted EBITDA does not reflect Other, net, including interest income, gain on debt extinguishment and foreign currency transaction gains and losses, that may increase or decrease cash available to the Company; andother companies, including companies in the Company’s industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. The following tables present the reconciliation of Adjusted loss from operations, Adjusted operating margin, Adjusted net loss and Adjusted net loss per diluted common share to their most comparable GAAP measures, loss from operations, loss from operations as a % of net revenues, net loss and net loss per share available to common stockholders—basic and diluted, respectively, each as reported (unaudited):

 Three Months Ended(in thousands)March 28,
2026 March 29,
2025Loss from operations, as reported$(41,104) $(64,370)Non-cash charges related to the cessation of operational activities in China 546   2,083 Amortization of costs related to partial lease termination 387   — Adjusted loss from operations$(40,171) $(62,287)Loss from operations as a % of net revenues(70.6)% (93.6)%Adjusted operating margin(69.0)% (90.6)%  Three Months Ended(in thousands)March 28,
2026 March 29,
2025Net loss, as reported$(28,482) $(61,087)Non-cash charges related to the cessation of operational activities in China 546   2,083 Amortization of costs related to partial lease termination 387   — Remeasurement of warrant liability (1,300)  — Remeasurement of derivative liability (11,891)  — Gain on debt extinguishment (6,060)  — Adjusted net loss$(46,800) $(59,004)  Three Months Ended(in thousands, except share and per share amounts)March 28,
2026 March 29,
2025Numerator:   Net loss, as reported$(28,482) $(61,087)Non-cash charges related to the cessation of operational activities in China 546   2,083 Amortization of costs related to partial lease termination 387   — Remeasurement of warrant liability (1,300)  — Remeasurement of derivative liability (11,891)  — Gain on debt extinguishment (6,060)  — Adjusted net loss used in computing Adjusted net loss per diluted common share$(46,800) $(59,004)Denominator:   Weighted average shares used in computing Adjusted net loss per common share 455,272,616   76,194,916 Adjusted net loss per diluted common share$(0.10) $(0.77)  Three Months Ended March 28, 2026 March 29, 2025Net loss per share available to common stockholders—basic and diluted, as reported$(0.06) $(0.80)Non-cash charges related to the cessation of operational activities in China —   0.03 Amortization of costs related to partial lease termination —   — Remeasurement of warrant liability —   — Remeasurement of derivative liability (0.03)  — Gain on debt extinguishment (0.01)  — Adjusted net loss per diluted common share$(0.10) $(0.77)
The following table presents the reconciliation of Adjusted EBITDA to its most comparable GAAP measure, net loss, as reported (unaudited):

  Three Months Ended(in thousands) March 28, 2026 March 29, 2025Net loss, as reported $(28,482) $(61,087)Income tax expense  —   — Interest expense  6,732   1,024 Depreciation and amortization expense(1)(2)  6,276   5,945 Share-based compensation expense  6,521   5,853 Non-cash charges related to the cessation of operational activities in China(3)  546   2,083 Remeasurement of warrant liability  (1,300)  — Remeasurement of derivative liability  (11,891)  — Gain on debt extinguishment  (6,060)  — Other, net(4)(5)  (119)  (4,318)Adjusted EBITDA $(27,777) $(50,500)Net loss as a % of net revenues (48.9)% (88.9)%Adjusted EBITDA as a % of net revenues (47.7)% (73.5)% ________________________

(1) Excludes $0.5 million and $1.5 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of our operational activities in China in the three months ended March 28, 2026, and March 29, 2025, respectively.(2) Includes $0.4 million in amortization of lease termination costs apportioned for the three months ended March 28, 2026. No such costs were incurred in the three months ended March 29, 2025.(3) Includes $0.5 million and $1.5 million in accelerated depreciation related to reassessment of useful lives of certain assets resulting from the cessation of our operational activities in China in the three months ended March 28, 2026 and March 29, 2025, respectively.(4) Includes $(1.3) million and $3.5 million in net realized and unrealized foreign currency transaction (losses) gains in the three months ended March 28, 2026 and March 29, 2025, respectively.(5) Includes $1.5 million and $0.9 million in interest income in the three months ended March 28, 2026 and March 29, 2025, respectively.

The company logo and trading information for Beyond Meat is displayed on a screen during the IPO at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab

May 6 (Reuters) - Beyond Meat (BYND.O), opens new tab forecast current-quarter revenue below Wall Street expectations on Wednesday, as it grapples with ​sluggish demand for its once-iconic plant-based products.

The ‌company expects quarterly revenue of $60 million to $65 million, lower than analysts' expectations of about $67 million, according to data ​compiled by LSEG.

The Reuters Inside Track newsletter is your essential guide during the World Cup. Sign up here.

Beyond Meat shares, which closed ​higher by about 13% on Wednesday, fell 9% ⁠in extended trading to about 94 cents.

The ​company, which has struggled to revive the initial enthusiasm, opens new tab ​for its faux-meat products, has been rolling out new products to drum up demand.

Earlier this year, it entered into new ​plant-based categories, launching products such as Beyond ​Immerse protein drinks, catering to protein-conscious consumers.

For the first quarter, ‌Beyond ⁠Meat posted revenue of $58.2 million, compared with analysts' average estimate of $58.1 million.

The company reported a loss of 10 cents per share for the quarter on ​an adjusted ​basis, compared ⁠with a loss of 77 cents per share a year earlier.

Beyond Meat ​had filed its delayed annual report on April ​9 ⁠after identifying material weaknesses in inventory accounting controls, including issues related to excess or obsolete stock, thereby ⁠avoiding ​the need to submit a ​formal plan to regain Nasdaq compliance.

Reporting by Neil J Kanatt ​and Padmanabhan Ananthan in Bengaluru; Editing by Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Beyond Meat (BYND - Free Report) came out with a quarterly loss of $0.1 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to a loss of $0.67 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +16.67%. A quarter ago, it was expected that this plant-based meat company would post a loss of $0.12 per share when it actually produced a loss of $0.29, delivering a surprise of -141.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Beyond Meat, which belongs to the Zacks Food - Meat Products industry, posted revenues of $58.21 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.79%. This compares to year-ago revenues of $68.73 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Beyond Meat shares have added about 12% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Beyond Meat?While Beyond Meat has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Beyond Meat was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $67.89 million in revenues for the coming quarter and -$0.36 on $252.28 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the bottom 6% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Hormel Foods (HRL - Free Report) , another stock in the same industry, has yet to report results for the quarter ended April 2026. The results are expected to be released on May 28.

This maker of Spam canned ham, Dinty Moore stew and other foods is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level.

Hormel Foods' revenues are expected to be $2.94 billion, up 1.6% from the year-ago quarter.

Beyond Meat continues to struggle with declining revenues, net losses, and heavy dilution. Q1 revenue fell 15.3% year-over-year to $58.2 million, with volumes down 19.5% and Q2 guidance missing Street expectations, signaling ongoing operational weakness. BYND's cash burn improved to $7.5 million in Q1, but working capital eroded, and debt-for-equity swaps have massively diluted shareholders, with shares outstanding rising from 77 million to 515 million in a year.

Beyond Meat stock is moving in positive territory. What’s pushing BYND stock higher? What's Driving Beyond Meat’s Stock Movement?Beyond Meat is attempting a bounce even as the first-quarter showed $205.8 million in cash and cash equivalents and U.S. foodservice revenue down 29.7% to $6.6 million, keeping traders focused on liquidity and demand durability.

The latest move comes after Beyond Meat reported first-quarter revenue of $58.2 million (down 15.3%) and posted an adjusted loss of 10 cents per share, while its second-quarter revenue outlook of $60.00 million to $65.00 million came in below the $66.97 million consensus.

Critical Price Levels For BYND To WatchPremarket strength has BYND trading around 90 cents, which keeps it slightly above its 20-day SMA (89 cents) and well above its 50-day SMA (79 cents), a setup that often attracts short-term dip buyers after a sharp downdraft. The bigger issue is the long trend: the stock is still 38.7% below its 200-day SMA ($1.47), so rallies can run into overhead supply as trapped holders look to exit.

Momentum is best read through RSI, which sits at 51.71—basically neutral—suggesting the bounce attempt isn't overly stretched in either direction yet. RSI is a quick way to gauge whether recent buying or selling has become "too far, too fast," and this reading points more to a range fight than a momentum breakout.

From a structure standpoint, the 20-day SMA is above the 50-day SMA (a bullish short-term crossover), but the 50-day SMA remains below the 200-day SMA, which keeps the longer-term trend bearish until price can reclaim and hold higher levels. The key risk is that failed bounces can quickly turn into retests of prior lows when a stock is still living under its long-term averages.

Key Support: 50 cents — a nearby level where buyers previously stepped in (52-week low zone) BYND Stock Price Movement In Premarket TradingBYND Stock Price Activity: Beyond Meat shares were up 0.16% at $0.89 during pre-market trading on Friday, according to Benzinga Pro data.

Image: Shutterstock

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

May 11, 2026 16:05 ET  | Source: Beyond Meat, Inc.

EL SEGUNDO, Calif., May 11, 2026 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™ (the “Company”), announced today that on May 10, 2026, the Human Capital Management and Compensation Committee of the Company’s Board of Directors (the “Committee”) granted an option to purchase 237,718 shares of the Company’s common stock and 180,051 restricted stock units (“RSUs”) to Tony Kalajian under the Beyond Meat, Inc. 2026 Employment Inducement Equity Incentive Plan (the “2026 Inducement Plan”) in connection with Mr. Kalajian's hiring and appointment as Chief Accounting Officer. In addition, the Committee granted 150,043 RSUs to one (1) new non-executive employee under the 2026 Inducement Plan. The awards were granted as inducements material to Mr. Kalajian and the non-executive employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The option will vest over a period of four years, with 25% of the shares subject to the option vesting on the first anniversary of the vesting commencement date (Mr. Kalajian’s start date), and the remaining shares vesting in substantially equal monthly installments thereafter, subject to Mr. Kalajian’s continued employment with the Company on such vesting dates. The RSUs will vest over a period of four years, with 25% of the RSUs vesting on the first anniversary of the vesting commencement date (the employee’s start date), and the remaining shares vesting in substantially equal quarterly installments thereafter, subject to Mr. Kalajian and the non-executive employee’s continued employment with the Company on such vesting dates. The awards are subject to the terms and conditions of the 2026 Inducement Plan and the terms and conditions of an option award agreement or RSU award agreement, as applicable, covering the grant.

The 2026 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of the Company or its parent or subsidiaries, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4).

About Beyond Meat
Beyond Meat, Inc. (NASDAQ: BYND), otherwise known as Beyond The Plant Protein Company™, is a plant protein company offering a portfolio of plant-based products made from simple ingredients without GMOs, no added hormones or antibiotics, and 0mg of cholesterol per serving. Founded in 2009, Beyond Meat’s core products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. The Company’s brand promise, Eat What You Love®, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based protein to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. Visit www.BeyondMeat.com and follow @BeyondMeat on Facebook, Instagram, Threads and LinkedIn.

Contacts
Media:
Shira Zackai
[email protected]

Beyond Meat (BYND 3.20%) is in a tough spot. In the first quarter, its sales fell roughly 15.3% year over year to land at $58.2 million. While rapidly declining sales are a big issue for the company, its margin picture is arguably even more concerning.

Beyond's gross margin came in at 3.4% in Q1, which was actually a substantial improvement over the negative 10.1% gross margin it recorded in the prior-year period. However, a margin on that level essentially leaves no way for the company to shift into delivering profitability.

Now it's looking toward clear protein drinks as a new product category that could help it reenergize sales and begin to change its margins. Could protein drinks supercharge a turnaround for Beyond Meat?

Image source: Getty Images.

Beyond Meat is betting big on its new beverage line Beyond Immerse is a line of protein drinks that has had a very limited test launch and will have an expanded rollout this summer. Last month, Beyond announced a partnership with Big Geyser, a beverage distributor that serves more than 26,000 locations in the New York metropolitan area.

Beyond lost $41.1 million last quarter, which works out to an operating margin of negative 70.6%. In other words, the company lost roughly $0.71 for every dollar in revenue it generated. If Beyond is to be a viable business over the long term, it clearly needs to find success in new product categories. Demand for the company's plant-based meat alternatives has been weakening, and the outlook for enough economies of scale being realized to allow for big gross-margin improvements is dim.

Today's Change

(

-3.20

%) $

-0.02

Current Price

$

0.68

Positioning protein drinks at the center of its new product strategies looks like a reasonably well-founded move. Getting easy protein is a good hook for health-conscious consumers, and it's not an accident that "protein" receives such a high degree of focus in many food-industry marketing campaigns. It's a proven marketing winner.

On the other hand, the Beyond Immerse beverage line will have to carve out a foothold and find success in a product category that already has a substantial degree of saturation. The beverage business is a challenging, highly competitive industry -- and securing lasting shelf space and support from consumers is no easy task. Beyond's distribution deal with Big Geyser has the makings of a substantial and encouraging first step, but there's still a lot of uncertainty on the consumer-demand front.

With Beyond Meat's stock down roughly 99% over the past five years, even modest indicators of success for the Immerse beverage line could be enough to power substantial valuation gains in the near term. On the other hand, betting on the company's push into clear protein beverages to deliver a sustained turnaround looks like a risky proposition.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Beyond Meat. The Motley Fool has a disclosure policy.

Beyond Meat (BYND 3.20%) has faced an uncertain future for some time. As sales of its plant-based meat products have plummeted, the stock has lost more than 99% of its value as consumers and investors alike lost confidence in the company.

Now, Beyond Meat has attempted to pivot into the protein drink market. Amid that move, the question for investors is whether that strategic pivot changes the investment thesis for Beyond Meat or merely delays an inevitable decline.

Image source: The Motley Fool.

Beyond Meat began 2026 facing serious financial and business challenges. In 2025, its net revenue of $275 million had fallen 16% from year-ago levels as both domestic and international customers showed less interest in its plant-based meat products.

Additionally, the 2025 operating losses of $333 million more than doubled from 2024 levels as the cost of goods sold alone nearly matched revenue levels. The only reason it turned a $178 million profit for the year is that it received a $549 million benefit from its debt restructuring.

It was under these challenging conditions that the company launched its Beyond Immerse line of protein drinks in January. According to Maximize Market Research, the $35 billion protein drink market should grow at a 9.4% compound annual growth rate (CAGR) through 2032, presumably signaling an opportunity in this area.

Today's Change

(

-3.20

%) $

-0.02

Current Price

$

0.68

Unfortunately for Beyond Meat, it has not proven that protein drinks are the turnaround catalyst the stock needs. That will be difficult, as it has to compete with corporate titans in the beverage and health industries. This includes PepsiCo's Muscle Milk, Coca-Cola's Fairlife, and drinks like Ensure and Glucerna, both developed by Abbott Laboratories.

Moreover, Beyond Meat does not seem clearly committed to this product line. It rolled out this product for a "limited time" from its Beyond Test Kitchen, which is unlikely to boost investor confidence in the stock.

Furthermore, although it may be premature to look for financial improvements, none have yet appeared in the company's financial results. In the first quarter of 2026, net revenue of $58 million fell 15% year over year. Also, its net losses have resumed, though the $28 million loss improved from the $61 million loss in the year-ago quarter amid aggressive cost-cutting.

Indeed, sales could improve in Q2 once investors can see a full quarter of sales results. Nonetheless, investors will have to see what, if anything, changes with the company's performance.

Stay on the sidelines with Beyond Meat stock Beyond Meat began the year as a financially troubled company, and investors have no indications that its line of protein drinks has changed the company's investment thesis.

Admittedly, protein drinks have become increasingly popular, and the company probably needs more time to show whether the Beyond Immerse product line can turn the company around.

Unfortunately, Beyond Meat remains financially troubled, and it is too early to tell whether a move into protein drinks can succeed, or even whether the beverages will be more than a "limited-time" offering. Additionally, since it has to compete with numerous industry heavyweights, the prospects for success appear grim.

Amid its challenges and revenue declines, investors should probably avoid this consumer staples stock unless its protein drinks start gaining traction with consumers.

Image: Bigstock

Read MoreHide Full Article

An updated edition of the April 21, 2026 article.

Natural foods have moved far beyond niche health-store shelves and are now a regular part of everyday shopping. This shift is being driven by rising interest in overall wellness, better nutrition and more responsible choices for the environment. Consumers across age groups increasingly want food that supports both personal health and broader sustainability.

Shoppers are also paying closer attention to what goes into the products they buy. Clear ingredient lists, limited processing, and claims such as organic, non-GMO and preservative-free are gaining importance. Clean eating has become less of a trend and more of a lasting lifestyle choice for many households.

Stronger food-labeling rules and public health efforts are further supporting this change. Natural food brands are building trust by offering transparency, quality, ethical sourcing and sustainable production practices. This trust often allows them to charge premium prices, as many consumers are willing to pay more for food they see as honest, safe and responsibly made.

Companies like Vital Farms, Inc. (VITL - Free Report) and The Hain Celestial Group, Inc. (HAIN - Free Report) are responding to rising demand for organic, clean-label and ethically sourced foods. With consumers prioritizing transparency, sustainability and minimal processing, the market for natural foods continues to grow. Expanding farm networks, plant-based innovations, and a focus on humane and eco-friendly production are shaping the industry's future.

The natural foods industry is poised for continued evolution through innovation and the expansion of product categories. Companies are investing in plant-based alternatives, functional foods enriched with vitamins and probiotics and sustainable farming technologies. E-commerce is also playing a crucial role in making natural foods more accessible, allowing consumers to shop for organic and gluten-free products with ease. The healthy food industry is projected to grow to $2,052.5 billion by 2035.

If you're looking to capitalize on this trend, our Natural Foods Screen makes it easy to identify high-potential stocks such as Beyond Meat, Inc. (BYND - Free Report) , Sprouts Farmers Market, Inc. (SFM - Free Report) and United Natural Foods, Inc. (UNFI - Free Report) .

Explore 37 cutting-edge investment themes with Zacks Thematic Investing Screens and uncover your next big opportunity.

3 Natural Food Stocks to WatchBeyond Meat has positioned itself as a prominent player in the natural and organic food landscape by advancing plant-based nutrition through products built around clean-label ingredients, non-GMO standards and transparent nutrition. During the first quarter of 2026, the company emphasized its evolution into “Beyond The Plant Protein Company,” broadening its reach beyond meat alternatives into functional food and beverage categories while maintaining its commitment to plant-based nutrition. A key example is Beyond Immerse, a clear functional beverage that combines 20 grams of plant protein, 7 grams of fiber, antioxidants and electrolytes without added sugar, artificial sweeteners, colors, stabilizers, or dairy. Management views this innovation as a natural extension of its expertise in plant-based ingredients and a way to introduce consumers to the benefits of plants through less controversial, health-focused applications.

The company’s natural and organic food strategy is also evident in the continuous enhancement of its core retail portfolio through products that emphasize ingredient integrity and nutritional value. Beyond Meat highlighted the rollout of Beyond Chicken Pieces Spicy Buffalo to more than 2,000 Kroger stores, offering 21 grams of plant protein, only 0.5 grams of saturated fat from avocado oil and compliance with Non-GMO Project standards. The product, along with the original Beyond Chicken Pieces, became the first plant-based chicken offerings certified by the Clean Label Project. Beyond Meat recently announced the nationwide rollout of its Beyond Breakfast Sausage lineup, including Links and Patties in original and spicy varieties, at Kroger and Sprouts, with distribution planned for Whole Foods Market. These products are crafted with simple ingredients and avocado oil, reinforcing the company’s focus on clean-label formulations and consumer trust.

Beyond Meat is further strengthening its position in natural and sustainable foods through product accreditation, innovation and portfolio development. The company noted that Beyond Burger IV and Beyond Steak became the first plant-based meats recognized as Climate Solutions under the Climate Solutions Framework developed by the Exponential Roadmap Initiative and Oxford Net Zero. Beyond Meat also reported holding more than 20 Clean Label Project certifications across its portfolio, underscoring a long-term strategy centered on ingredient transparency and nutritional quality. At the same time, the company is advancing new products such as Beyond Steak Filet, available through the Beyond Test Kitchen platform, featuring 28 grams of protein, 3 grams of fiber, low saturated fat and no cholesterol. These initiatives demonstrate how this Zacks Rank #2 (Buy) company is leveraging innovation, sustainability credentials and clean-label positioning to expand its relevance within the broader natural and organic food category. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Sprouts Farmers has established itself as a leading destination for natural and organic foods by combining a health-and-wellness-focused assortment with a strong innovation pipeline. The company’s strategy centers on helping consumers “live and eat better” through differentiated, attribute-driven products featuring clean ingredients, organic certifications and wellness benefits. During the first quarter of 2026, organic products remained a major growth engine, with more than 55% of produce sales and more than 34% of total company sales coming from organic offerings. Management emphasized that organics continue to serve as an important quality standard for its target customer base and a key point of differentiation. This focus reinforces Sprouts’ positioning as a specialty retailer that blends accessibility, product discovery, and wellness-oriented shopping experiences.

The company launched more than 1,500 new products in early 2026 and continues to attract emerging health-and-wellness brands that view Sprouts as a preferred launch partner. Notable examples include PRESS Coffee Cold Brew Protein Drink, Pendulum Probiotics and Proda, all aligned with consumer demand for functional nutrition and clean-label products. Management highlighted strong momentum in categories such as protein, gut health and wellness beverages, reflecting broader consumer trends. Sprouts also leverages its innovation center and dedicated foraging teams to identify promising brands before they achieve mainstream distribution, strengthening its reputation as a destination for discovery while maintaining a curated assortment of differentiated natural and organic products.

Private-label development is another critical element of Sprouts’ natural and organic growth strategy. The Sprouts brand continues to outperform the broader business, accounting for more than 26% of total sales while expanding across both fresh and shelf-stable categories. Recent launches such as Regenerative Organic Certified Coffee, Seed Oil-Free Hummus and Beef Tallow Kettle Chips demonstrate the company’s ability to align proprietary products with evolving consumer preferences around sustainability, ingredient transparency and nutritional quality. To broaden access to healthy food, Sprouts Farmers is pairing innovation with affordability initiatives, including targeted pricing actions, value-oriented meal solutions and loyalty-driven personalization. This Zacks Rank #3 (Hold) company is also sharpening its marketing efforts to highlight founder stories, differentiated brands, and wellness credentials, reinforcing its leadership position in the growing natural and organic food market.

United Natural Foods occupies a unique position in the U.S. grocery ecosystem as the leading distributor serving natural, organic, specialty and differentiated food retailers. As consumer demand increasingly shifts toward healthier, sustainably sourced and wellness-oriented products, the company has continued to strengthen its role in the natural and organic category. During the third quarter of fiscal 2026, UNFI reported natural product sales growth of more than 4%, outperforming the broader market and reflecting resilient shopper demand for natural, organic, fresh and specialty foods. Management emphasized that natural and organic retailers have nearly tripled their share of the U.S. grocery market over the past two decades, reinforcing the attractiveness of this segment. UNFI’s strategy centers on helping retailers differentiate through premium assortments and health-focused offerings, positioning the company to benefit from long-term category expansion.

UNFI is actively expanding its natural and organic ecosystem through merchandising innovation, supplier support and digital capabilities. A key initiative is the launch of its new digital marketplace, Endless Aisle, which enables retailers to access innovative emerging brands more efficiently while helping suppliers broaden distribution. The company also introduced more than 30 new private-brand SKUs during the quarter, enhancing retailers’ ability to differentiate their assortments and respond to growing consumer interest in nutritious and wellness-oriented products. Through its extensive portfolio of natural, organic and specialty offerings, UNFI supports a wide range of customers, from dedicated natural food retailers to regional grocers seeking to strengthen their health-and-wellness credentials. Management noted that assortment optimization and access to natural and organic products remain central themes in conversations with customers pursuing differentiated retail strategies.

To support continued growth in natural and organic foods, UNFI is investing heavily in supply-chain modernization and technology-driven efficiency. The company expanded its AI-powered supply chain and procurement planning platform across its entire distribution center network, improving inventory management, fill rates and free-cash-flow conversion. It also broadened deployment of the Samsara fleet management platform and extended its cloud-based warehouse management system to five additional distribution centers. These initiatives contributed to higher service levels, including improved fill rates, stronger on-time deliveries and increased throughput. Management highlighted that underlying natural sales growth has consistently delivered mid-teens growth on a two-year stacked basis, demonstrating the durability of demand for natural and organic products. This Zacks Rank #3 company expects its growing wholesale pipeline, technology investments and focus on differentiated food retail to support continued expansion within its approximately $90 billion target addressable market.

Zacks' 7 Best Strong Buy Stocks (New Research Report) Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.

Click Here, It's Really Free

Published in consumer-staples food