US EditionBeyond Meat (NASDAQ:BYND) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS
- Beyond Meat reported a 13.3% revenue decline in the third quarter, leading to a net loss of $110.7 million on sales of $70.2 million.
- CEO Ethan Brown discussed cost reductions but stated that these would not solve Beyond Meat's core problems, which include weak demand for plant-based meat.
- The company's fourth-quarter revenue is projected to be between $60 million and $65 million, marking a significant decline from previous years.
- Despite new distribution deals, Beyond Meat has been sold in fewer locations this quarter, indicating ongoing challenges in the market.
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The Independent
The Independent (US)Beyond Meat reports larger-than-expected Q3 loss as US demand shrinks
No Bottom in Sight for Beyond Meat's Crashing Sales
Key PointsBeyond Meat reported a steep sales decline and worsening profitability in the third quarter.Volumes and net revenue per pound are declining together as the company grapples with soft category demand and a weak brand.New distribution deals won't save the company from another revenue decline in the fourth quarter.10 stocks we like better than Beyond Meat › Beyond Meat (NASDAQ: BYND) reported a 13.3% revenue decline in the third quarter, …
Beyond Meat (NASDAQ:BYND) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS
Beyond Meat (NASDAQ:BYND - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.08). The business had revenue of $70.22 million for the quarter, compared to analyst estimates of $68.82 million.
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