Beyond Meat reports wider loss, quarterly sales decline [Yahoo! Finance]
Beyond Meat, Inc. - Common stock (BYND)
Last beyond meat, inc. - common stock earnings: 2/27 04:05 pm
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Source: Yahoo! Finance
WHY IT'S IMPORTANT Demand for Beyond Meat's products - including burger patty, sausages and ground beef - weakened as their customers such as McDonald's and Yum Brands saw sluggish consumer demand owing to sticky inflation. CONTEXT While Beyond Meat increased its prices in the current quarter, the company's volumes fell 16.1% as consumers kept a tight lid on spending. Despite price hikes, the company's margins came under pressure from higher manufacturing and material costs. It's gross margin in the quarter rose 4.9%, compared with a 6.7% rise last year. KEY QUOTE "It remains an uphill battle for the plant-based industry, as consumers are still tightening their belts and are less likely to try new premium grocery brands," said Blake Droesch, analyst from eMarketer. BY THE NUMBERS For the quarter, the company posted revenue of $75.6 million, compared with analysts' average estimate of $75.2 million, according to LSEG data. In its U.S. food service segment, the company'
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News
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- Beyond Meat looks for positives but hard to look past some big questions [Yahoo! Finance]Yahoo! Finance
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BYND
Earnings
- 5/8/24 - Miss
BYND
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- 5/10/24 - Form S-8
- BYND's page on the SEC website