The company reported strong growth outside the United States, with international grocery and restaurant divisions each seeing sales more than double during the quarter. Customers usually buy more Beyond Burgers during the summer to grill. Compared with the second quarter, its revenue fell, bucking typical seasonal trends for the company’s products. Net sales rose 12.7% to $106.4 million, missing expectations of $109.2 million. About $9 million was written off due to water damage at one of its plants, which mostly affected packaging. The company said it faced higher transportation and warehousing costs and increased its inventory write-offs, which hurt its profits. Analysts surveyed by Refinitiv expected a loss of 39 cents per share. $109.2 million expectedīeyond reported fiscal third-quarter net loss of $54.8 million, or 87 cents per share, wider than a net loss of $19.3 million, or 31 cents per share, a year earlier. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Shares of the company tumbled 18% in extended trading. The company also disappointed investors with its fourth-quarter outlook, indicating that sales aren’t expected to snap back immediately. demand for its meat substitutes shrank and higher costs ate into its profits. Most information to help you learn and practice can be found in our wiki.īeyond Meat on Wednesday reported a widening loss in its third quarter as U.S. Related Subreddits (see the rules above for related subs as well) Read here for more info.Īlmost any post related to stocks and investment is welcome on /r/stocks, including pre IPO news, futures & forex related to stocks, and geopolitical or corporate events indicating risks outside this is offtopic and can be removed. Consider posting to r/SPACs, r/pennystocks, or r/weedstocks instead. No penny stock discussions, including OTC, microcaps, pump & dumps, low vol pumps and SPACs. Non-ETF-related Crypto goes on r/CryptoCurrencies info. No bitcoin or crypto discussions unrelated to stocks. Trolling, insults, or harassment, especially in posts requesting advice, will be removed. Posts regarding this topic will be automatically removed. The Robinhood app should be discussed in /r/Robinhood.
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