Beyond Meat: 3Q Earnings Snapshot
EL SEGUNDO, Calif. (AP) _ Beyond Meat Inc. (BYND) on Monday reported a third-quarter loss of $19.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the El Segundo, California-based company said it had a loss of 31 cents. Losses, adjusted for non-recurring costs, came to 28 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The plant-based meat company posted revenue of $94.4 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $135.6 million.
Beyond Meat shares have climbed 99% since the beginning of the year. In the final minutes of trading on Monday, shares hit $150.30, a rise of 90% in the last 12 months.