The company's stock was initially pummeled more than 17% in extended trading Wednesday after it reported a fiscal third-quarter net loss of $54.8 million, or...
There’s no pretty way of putting it: Beyond Meat Inc.’s quarterly results could be described as dead meat.
“Our third-quarter results reflect variability as we saw a decline from record net revenues just a quarter ago,” Beyond Meat Chief Executive Ethan Brown said in a statement announcing the results. “Near-term market and operating conditions notwithstanding, we remain committed to our long-term strategy.”
Investors had been bracing for the results. Company shares recently dipped below $100 and skidded to a 52-week low in trading Oct. 22 after Beyond warned of lower third-quarter revenue than previously forecast.
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