Beyond Meat reversed a sales slide in its third quarter, growing revenue for the first time since 2022 as it charged higher prices for its plant-based meat.
Read full article: Starbucks unveils 2024 holiday cups amid sales slumpHave you seen these people? SAPD searching for suspect in fatal North Side apartment shootingLooking to save on items for your home, road trip and wardrobe? We've got the latest Insider Deals to share!FILE - Beyond Meat products are seen in a refrigerated case inside a grocery store in Mount Prospect, Ill., on Feb. 19, 2022.
The El Segundo, California-based company said its revenue rose 7.6% to $81 million in the July-September period. That was higher than the $80.1 million Wall Street was expecting, according to analysts polled by FactSet.Beyond Meat said it saw a 7% decrease in the volume of products sold but a 15.8% increase in net revenue per pound. The company has been trying to rely less on discounting and position its newer, healthier burgers, sausage and grounds as premium products.
It said it narrowed its net loss to $26.6 million for the quarter, compared to $70.5 million in the third quarter a year ago. That loss, of 41 cents per share, also beat analysts' forecast of a 48-cent loss. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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