Beyond Meat Falls On Q2 Earnings

Beyond Meat BYND reported second-quarter losses of 2 cents per share, which met the analyst consensus estimate. This is a decrease over earnings of 6 cents per share from the same period last year.

The company reported quarterly sales of $113.30 million, which beat the analyst consensus estimate of $99.84 million by 13.48%. This is a 68.47% increase over sales of $67.25 million the same period last year.

"Although COVID-19 has added complexity to managing our business, we are proud of the way our team has adapted and continues to execute against our long-term strategic plan, closely managing near-term risk while continuing to invest in Beyond Meat's longer-term future," said CFO and Treasurer Mark Nelson.

Beyond Meat shares were trading down 7.7% at $131.21 in Tuesday’s after-hours session. The stock has a 52-week range between $181.75 and $48.18.

Related Links:

Why Oppenheimer's Sidelined On Beyond Meat Ahead Of The Q2 Print

Beyond Meat Reports Q1 Earnings Beat