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BEYOND MEAT
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opening:33.31
High:34.15
low:31.13
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Recorded revenues in the amount of 147 million dollars, missing the analysts’ expectations of 149 million dollars and stagnation from year to year. The loss per share was $1.53, another miss, when analysts expected $1.92 per share, the net loss was $97 million.
The gross profit came in at a loss of 6.2 million dollars, which is a figure you don’t see every day, the company sells its products at a loss. Their production cost exceeds the selling price. EBITDA came in at a loss of $68 million. below analysts’ forecasts.
Beyond Meat lowers the revenue forecast for the future, when the forecast before the reports was for annual revenues of between 560-620 million dollars, now it updates them down to 470-520 million dollars. In addition, the company is laying off 4% of its employees worldwide.
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