Beyond Meat beats Q4 forecasts despite flagging sales

By Dee-Ann Durbin | Associated Press

Beyond Meat on Thursday reported better-than-expected fourth-quarter sales despite flagging consumer demand and lower prices.

The plant-based meat maker said its revenue fell 21% to $80 million in the October-December period. Still, that beat Wall Street’s expectations. Analysts polled by FactSet were forecasting revenue of $75.8 million.

Beyond Meat’s shares jumped 14% in after-hours trading.

The El Segundo, California-based maker of plant-based burgers, sausages, nuggets and other products said its sales volumes continued to decline despite price cuts in the U.S. and Europe. The strong dollar also hurt profits from abroad, the company said.

Beyond Meat’s net loss narrowed to $66.9 million for the

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

I’m a CEO, Founder and Father of 2 — Here Are 3 Practices That Help Me Maintain My Sanity.

Opinions expressed by Entrepreneur contributors are their own. Every entrepreneur can attest that creating and running a company is an incredibly stressful...

Remote Work Enthusiast Kevin O’Leary Does TV Appearance Wearing Suit Jacket, Tie and Pajama Bottoms

In 2022, author Malcolm Gladwell slammed remote workers as people "just sitting in your pajamas." That includes Kevin O'Leary.O'Leary may wear many hats—"Shark Tank"...

How to Leverage AI for Content Creation While Avoiding Potential Risks and Penalties

Opinions expressed by Entrepreneur contributors are their own. Artificial intelligence (AI) is not new, but the last two years have seen massive...