Beyond Meat shares tumble after reporting wider-than-expected loss, shrinking revenue

Earnings

In this article

Packages of Beyond Meat Inc.’s plant based meat products, Beyond Burger and Beyond Sausage, are displayed at a supermarket on November 19, 2020 in Katwijk, Netherlands
Yuriko Nakao | Getty Images

Beyond Meat on Thursday reported a wider-than-expected loss and shrinking revenue for its fourth quarter.

Shares of the company fell more than 7% in extended trading

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Loss per share: $1.27 vs. 71 cents expected
  • Revenue: $100.7 million vs. $101.4 million expected

Beyond reported fourth-quarter net loss of $80.37 million, or $1.27 cents per share, wider than its loss of $25.08 million, or 40 cents per share, a year earlier. Analysts surveyed by Refinitiv were forecasting losses of 71 cents per share.

Net sales dropped 1.2% to $100.7 million, falling short of expectations of $101.4 million.

Products You May Like

Articles You May Like

Inside the ‘Wormhole,’ Relativity Space’s monster factory 3D-printing reusable rockets
This Social Media Campaign Helped #Pakistan’s #Pink #Salt Industry
Venture capital for Black entrepreneurs plummeted 45% in 2022, data shows
Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money
64% of Americans are living paycheck to paycheck — here’s how to keep your budget in check

Leave a Reply

Your email address will not be published. Required fields are marked *