Movers: Beyond Meat, Dutch Bros, Six Flags, Sonos, Walt Disney, WeWork

  • May 12, 2022
  • Barry Adams
  • Beyond Meat reaffirmed annual revenues outlook. Dutch Bros same store store sales outlook flat to negative. Six Flags visitors jumped. Sonos reaffirmed annual sales estimates. Walt Disney net drops. WeWork beats revenue estimates. 

    Beyond Meat Inc increased 3.1% to $26.98 after the plant-based food maker reported revenues increased 1.2% to $110 million and a net loss of $100.5 million or $1.58 a share from $27.3 million or 43 cents a share. 

    The quarterly loss increase was driven by the investment in the launch of Beyond Meat Jerky dragging the gross margin down 904 basis points. The manufacturing costs are expected to soften significantly in the second-half of the year, added the company.  

    The company reiterated its full-year revenues estimate between $560 million and $620 million, an increase between 21% and 33%. 

    The volume of products sold increased 12.4% to 21.3 million pounds. 

    Dutch Brothers Inc declined 30.3% to $23.92 after the beverage chain operator reported first quarter revenues soared 54% to $152.2 million and opened 34 new stores. 

    The beverage chain also reported higher loss in the quarter $16.8 million compared to $4.8 million a year ago and guided flat to negative comparable sales growth in the second quarter.  

    Six Flags Entertainment Corp declined 3.4% to $28.79 after the theme park operator reported first quarter revenues increased 68% to $138 million and net loss shrank to $66 million from $96 million a year ago. 

    The company attracted more visitors despite a calendar shift and fewer days in the quarter compared to a year ago. Total attendance at locations increased 25% to 1.7 million, but fell short of some analysts' estimates.  

    Spending per person increased $19.30 drive by higher admission fee of $10.33.   

    Sonos Inc rose 15.1% to $21.95 after the company reported second quarter revenues increased 20% to $399.8 million but net income plunged about 50% to $8.5 million on weakening gross margin. 

    The company reinforced its fiscal year 2022 revenue outlook between $1.95 billion and $2 billion on strong demand but lowered its gross margin range to between 45.5% and 46% from the previous range between 46% and 475. 

    The Walt Disney Company declined 1.3% to $103.92 after the theme park and entertainment company reported lower than expected revenues and profit but a strong increase in its streaming service subscribers. 

    Revenues increased 23% to $19.2 billion and net income shrank 48% to $470 million or 26 cents from 50 cents a year ago. 

    Disney+ paid subscriber base increased 33% to 137.7 million and ESPN+ base rose to 62% to $22.3 million. 

    The U.S. subscriber base for the Disney+ increased 19% to 44.4 million. 

    WeWork Inc soared 10% to $5.61 after the flexible office space provider reported first quarter revenues increased 7% to $765 million and ahead of its estimated range between $740 million and $760 million. 

    Physical occupancy rate jumped to 67% from 50% in the quarter a year ago. 

    Net loss in the quarter shrank 75% to $504 million or 57 cents from $2 billion or $14.34 a year ago. 


Annual Returns

Company Ticker 2022 2021 2020
Dutch Bros Inc. BROS -40% 0% 0%