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Beyond Meat shares tumble after jerky launch leads to wider-than-expected loss

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Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
Angela Weiss | AFP | Getty Images

Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as it offered steeper discounts and cheaper prices to international consumers.

Shares of the company fell more than 24% 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: $1.58 adjusted vs. $1.01 expectedRevenue: $109.5 million vs. $112.3 million expected

Beyond reported first-quarter net loss of $100.5 million, or $1.58 per share, wider than its net loss of $27.3 million, or 43 cents per share, a year earlier.

Excluding items, the company lost $1.58 per share, wider than the $1.01 per share expected by analysts surveyed by Refinitiv.

Net sales rose 1.2% to $109.5 million, falling short of expectations of $112.3 million.

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