Beyond Meat's shares have surged 6x since the company's May IPO, giving it a market cap of nearly $12B, which exceeds BG's own $7.8B total.
The company says Q2 results also benefited by $70M in timing differences related to profit margins from crushing soybeans into meal and oil, but the gains are expected to reverse in Q3.
BG says its grain origination results improved in South America, more than offsetting weaker results in North America, which has suffered from rains and floods that interrupted crop movements this spring, as well as "low export demand due to the U.S.-China trade dispute."
For the full year, BG expects results in the Agribusiness segment to come in lower than 2018, based on the current soy crush margin environment; actual soy crush margins likely will evolve based on U.S.-China trade discussions, crop sizes and farmer commercialization.
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