Packs of Past Meat plant-based burger patties are displayed on the market.
Paul Yeung | Bloomberg by way of Getty Photos
Beyond Meat on Thursday reported a wider-than-expected loss per share as larger prices and investments again into its enterprise weighed on margins.
Shares of the corporate fell almost 4% in prolonged buying and selling.
Here is what the corporate reported in contrast with what Wall Road was anticipating, primarily based on a survey of analysts by Refinitiv:
- Loss per share: 31 cents vs. 24 cents anticipated
- Income: $149.4 million vs. $140.8 million anticipated
Past reported fiscal second-quarter web lack of $19.7 million, or 31 cents per share, wider than its web lack of $10.2 million, or 16 cents per share, a yr earlier. Analysts surveyed by Refinitiv had been anticipating a loss per share of simply 24 cents.
Internet gross sales rose 31.8% to $149.4 million, topping expectations of $140.8 million.
“… I am optimistic about what lies forward,” CEO Ethan Brown stated in a press release. “That stated, given the latest uptick of Covid-19 instances, which may disrupt demand patterns, we imagine warning for the steadiness of the yr usually stays applicable.”
It is a breaking information story. Please test again for updates.