Beyond Meat posts first-quarter revenue decline and loss
Updated
Updated · MarketWatch · May 6
Beyond Meat posts first-quarter revenue decline and loss
2 articles · Updated · MarketWatch · May 6
Revenue fell 15% to $58.2 million, slightly above analyst estimates, while the plant-based food maker cut its net loss to $28.5 million from $61.1 million a year earlier.
The fourth straight quarterly revenue drop reflected weaker burger and chicken sales to international quick-service restaurants and soft demand in US retail and foodservice.
Beyond Meat forecast second-quarter revenue of $60 million to $65 million, below analyst expectations, as it rolls out new products and pursues a debt exchange aimed at reducing debt by about $800 million.
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