Beyond Meat Shares Plunged 10% Premarket on Q4 Miss and Worse Than Expected 2022 Outlook.
Revenues declined 1.2% year-over-year to $100.7 million, compared to the consensus estimate of $101.36 million, as the increased U.S. foodservice and international channel revenues (due to higher demand from existing outlets, new product introductions, and expansion of distribution) were more than offset by reduced U.S. retail channel revenues (due to softer demand, five fewer shipping days in Q4, increased trade discounts).
The company provided its full 2022-year outlook, expecting revenues to range from $560 million to $620 million, missing the consensus estimate of $637.3 million.
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