Overview
- Beyond Meat fell about 9% in after-hours trading Wednesday after it guided second-quarter revenue to $60 million to $65 million.
- The forecast came in below Wall Street’s roughly $67 million expectation based on LSEG data.
- First-quarter revenue was $58.2 million, a slight beat versus estimates, and the adjusted loss was 10 cents per share.
- Management is expanding into functional foods and beverages, including Beyond Immerse protein drinks, to reach protein-focused shoppers.
- The company disclosed material weaknesses in inventory accounting on April 9, citing problems tracking excess or obsolete stock.