Beyond Meat Stock Plummets As Marketing Costs, Slowing Demand Tigger Wider Q1 Loss

Beyond Meat  (BYND) – Get Beyond Meat, Inc. Report shares plunged lower Thursday after the plant-based food producer posted a wider-than-expected first quarter loss as marketing and new product launch costs hollowed-out the impact of impressive volume growth.

Beyond Meat recorded a loss of $1.58 per share for the three months ending in March, well outside the Street forecast and down from a loss of 43 cents per share last year, even as revenues rose 1.2% to $109.5 million. Inflation and supply chain snarls ate into profit margins, which narrowed to just 0.2%, compared to 30.2% last year, as did the “expensive and inefficient” costs linked to marketing a new plant-based jerky with PepsiCo  (PEP) – Get PepsiCo, Inc. Report, according to CFO Philip Hardin.

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