Beyond Meat’s Q1 hobbled by marketing costs, lower prices
Plant-based meat company Beyond Meat has posted a first-quarter loss after higher sales were offset by marketing costs and lower prices. The company based in El Segundo, California reported Thursday that its revenue rose 11% to $108.2 million in the January-March period. But according to analysts polled by FactSet that fell short of Wall Street’s forecast of $112.6 million. Beyond Meat reported a net loss of $27.3 million, compared to a profit of $1.8 million in the same period a year ago. Adjusted for one-time items, the company lost 42 cents per share. Analysts had been expecting an loss of 18 cents a share.