greybeard
Well-known member
They (beyond meat) lost their butt's last quarter... and the qtr before too.
Can't think of a better bunch for it to happen to.
fake meat
"Beyond Meat on Thursday reported a wider-than-expected loss and shrinking revenue for its fourth quarter.
The company also released a weak forecast for its 2022 revenue, although it said it plans to spend less on growing the business.
Shares of the company fell more than 11% in extended trading.
Here's what the company reported in the three months ended Dec. 31 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Net sales dropped 1.2% to $100.7 million, falling short of expectations of $101.4 million.
This marks the second consecutive quarter that Beyond has disappointed investors and analysts with its losses and revenue. The company said its third-quarter results were hurt by a number of factors, ranging from the delta variant to distribution issues to a $1.9 million write-off tied to water damage at one of its plants.
CEO Ethan Brown said in a statement that the company expects to "substantially moderate" the growth of its operating expenses in 2022, which could help it return to profitability."
Can't think of a better bunch for it to happen to.
fake meat
"Beyond Meat on Thursday reported a wider-than-expected loss and shrinking revenue for its fourth quarter.
The company also released a weak forecast for its 2022 revenue, although it said it plans to spend less on growing the business.
Shares of the company fell more than 11% in extended trading.
Here's what the company reported in the three months ended Dec. 31 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Loss per share: $1.27 vs. 71 cents expected
- Revenue: $100.7 million vs. $101.4 million expected
Net sales dropped 1.2% to $100.7 million, falling short of expectations of $101.4 million.
This marks the second consecutive quarter that Beyond has disappointed investors and analysts with its losses and revenue. The company said its third-quarter results were hurt by a number of factors, ranging from the delta variant to distribution issues to a $1.9 million write-off tied to water damage at one of its plants.
CEO Ethan Brown said in a statement that the company expects to "substantially moderate" the growth of its operating expenses in 2022, which could help it return to profitability."