Overview
- Beyond Meat reported second-quarter net income of $16.4 million and revenue of $68.8 million in results released Wednesday.
- The company showed a GAAP loss of $0.06 per share and an adjusted loss of $0.09 per share after excluding debt extinguishment and nonrecurring gains.
- For the quarter ending in September Beyond Meat guided revenue of $60 million to $65 million, a midpoint slightly above some analyst estimates.
- The company saw stronger international retail sales while U.S. retail sales fell, and its shares traded near $0.61 at the close versus $3.10 a year earlier.
- The report was generated from third-party data feeds using Automated Insights and Zacks, and the modest guidance could prolong market skepticism despite operational gains and new product pushes.