Beyond Meat Inc (BYND): RESTAURANTS: Beyond Meat shares tank as...

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Re: T695 post# 1577

Monday, 11/09/2020 4:47:28 PM

Monday, November 09, 2020 4:47:28 PM

RESTAURANTS: Beyond Meat shares tank as coronavirus weakens demand for plant-based meat at restaurants

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Loss per share: 28 cents, adjusted, vs. earnings of 5 cents per share expected
Revenue: $94.4 million vs. $132.8 million expected
Beyond reported fiscal third-quarter net loss of $19.3 million, or 31 cents per share, down from net income of $4.1 million, or 7 cents per share, a year earlier.

Excluding items, the company lost 28 cents per share, missing the earnings of 5 cents per share expected by analysts surveyed by Refinitiv.

Net sales rose 2.7% to $94.4 million, missing expectations of $132.8 million.

https://www.cnbc.com/2020/11/09/beyond-meat-bynd-q3-2020-earnings-miss-estimates.html

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