Wrapping up Q3 earnings, we look at the numbers and key takeaways for the perishable food stocks, including Beyond Meat (NASDAQ: BYND) and its peers.

The perishable food industry is diverse, encompassing large-scale producers and distributors to specialty and artisanal brands. These companies sell produce, dairy products, meats, and baked goods and have become integral to serving modern American consumers who prioritize freshness, quality, and nutritional value. Investing in perishable food stocks presents both opportunities and challenges. While the perishable nature of products can introduce risks related to supply chain management and shelf life, it also creates a constant demand driven by the necessity for fresh food. Companies that can efficiently manage inventory, distribution, and quality control are well-positioned to thrive in this competitive market. Navigating the perishable food industry requires adherence to strict food safety standards, regulations, and labeling requirements.

The 12 perishable food stocks we track reported a satisfactory Q3. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 3.7% on average since the latest earnings results.

Beyond Meat (NASDAQ: BYND)

A pioneer at the forefront of the plant-based protein revolution, Beyond Meat (NASDAQ: BYND) is a food company specializing in alternatives to traditional meat products.

Beyond Meat reported revenues of $70.22 million, down 13.3% year on year. This print exceeded analysts’ expectations by 2.1%. Despite the top-line beat, it was still a softer quarter for the company with revenue guidance for next quarter missing analysts’ expectations and a significant miss of analysts’ EBITDA estimates.

Unsurprisingly, the stock is down 24.1% since reporting and currently trades at $1.03.

Read our full report on Beyond Meat here, it’s free.

Best Q3: Mission Produce (NASDAQ: AVO)

Founded in 1983 in California, Mission Produce (NASDAQ: AVO) grows, packages, and distributes avocados.

Mission Produce reported revenues of $319 million, down 10% year on year, outperforming analysts’ expectations by 8.5%. The business had an incredible quarter with a solid beat of analysts’ gross margin estimates and an impressive beat of analysts’ EBITDA estimates.

Mission Produce delivered the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 6.5% since reporting. It currently trades at $12.27.

Is now the time to buy Mission Produce? Access our full analysis of the earnings results here, it’s free.

Slowest Q3: Calavo (NASDAQ: CVGW)

A trailblazer in the avocado industry, Calavo Growers (NASDAQ: CVGW) is a pioneering California-based provider of high-quality avocados and other fresh food products.

Calavo reported revenues of $124.7 million, down 26.6% year on year, falling short of analysts’ expectations by 15.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Calavo delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 12.9% since the results and currently trades at $25.49.

Read our full analysis of Calavo’s results here.

Pilgrim's Pride (NASDAQ: PPC)

Offering everything from pre-marinated to frozen chicken, Pilgrim’s Pride (NASDAQ: PPC) produces, processes, and distributes chicken products to retailers and food service customers.

Pilgrim's Pride reported revenues of $4.76 billion, up 3.8% year on year. This number surpassed analysts’ expectations by 0.8%. Overall, it was a very strong quarter as it also produced a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ gross margin estimates.

The stock is up 9.2% since reporting and currently trades at $41.64.

Read our full, actionable report on Pilgrim's Pride here, it’s free.

Vital Farms (NASDAQ: VITL)

With an emphasis on ethically produced products, Vital Farms (NASDAQ: VITL) specializes in pasture-raised eggs and butter.

Vital Farms reported revenues of $198.9 million, up 37.2% year on year. This result topped analysts’ expectations by 3.7%. It was a very strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

Vital Farms delivered the fastest revenue growth and highest full-year guidance raise among its peers. The stock is down 8.4% since reporting and currently trades at $29.48.

Read our full, actionable report on Vital Farms here, it’s free.

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