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Beyond Meat Sees Q2 Sales Jump On Restaurant Demand

Beyond Meat Sees Q2 Sales Jump On Restaurant Demand

Plant-based meat maker Beyond Meat said Thursday that its revenue jumped 32% in the second quarter as demand from restaurants returned.

Plant-based meat maker Beyond Meat said Thursday that its revenue jumped 32% in the second quarter as demand from restaurants returned.

Beyond Meat’s U.S. food-service sales more than tripled in the April-June period as more dining rooms reopened and people ate out.

But its retail demand fell 14%, reflecting a drop from 2020’s pandemic stockpiling.

El Segundo, California-based Beyond Meat reported $149.4 million in revenue for the second quarter, beating Wall Streets forecast of $141 million, according to analysts polled by FactSet.

The company reported a net loss of $19.7 million, or 31 cents per share. That was a bigger loss than the 23 cents analysts had forecast.

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first published:August 06, 2021, 02:12 IST