Beyond Meat Beats Expectations and Sees Margin Improving in 2023

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Beyond Meat Beats Expectations and Sees Margin Improving in 2023

StreetInsider2023-02-24

Beyond Meat Inc(NASDAQ: BYND) was sizzling after the plant-based meat maker beat expectations for revenue and profit in the fourth quarter and for the full year.Shares of Beyond jumped 15.6% in after-...

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Vincentan59
·2023-02-24
Wow🙀🙀🙀
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Worpeng2002
·2023-02-24
Ok
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bostonxsgp
·2023-02-24
up
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EngHup
·2023-02-24
Thanks
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The company’s net loss of $1.05 a share compared with the expected loss of $1.18 a share.CEO Ethan Brown said: “We are making solid progress in our transition to a sustainable growth model, one that emphasizes the achievement of cash flow positive operations within the second half of 2023.”Brown said the company is focused on reducing operating expenses, bringing inventory levels down and putting a bigger emphasis “on near-term retail and foodservice growth drivers while also supporting strategic key long-term partners and opportunities.” In the fourth quarter, gross margin was a negative 3.7%.For the full year 2022, Beyond reported revenue of $418.9M, down 9.8% for the year, and a net loss of $5.75 a share. Both also beat expectations.Beyond expects full-year 2023 revenue of $375M to $415M. Analysts were expecting $391.4M. 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