Plant-based meat maker Beyond Meat said Thursday that its revenue jumped 32% in the second quarter as demand from restaurants returned.
Beyond Meat’s U.S. food-service sales more than tripled in the April-June period as more dining rooms reopened and people ate out.
But its retail demand fell 14%, reflecting a drop from 2020’s pandemic stockpiling.
El Segundo, California-based Beyond Meat reported $149.4 million in revenue for the second quarter, beating Wall Streets forecast of $141 million, according to analysts polled by FactSet.
The company reported a net loss of $19.7 million, or 31 cents per share. That was a bigger loss than the 23 cents analysts had forecast.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here.
Comments
0 comment