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Keyword: veggieburgers

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  • Beyond Meat revenue plummets in the second quarter due to flagging US demand

    08/07/2023 5:48:23 PM PDT · by Olog-hai · 51 replies
    Associated Press ^ | August 7, 2023 | Dee-Ann Durbin
    Plant-based meat substitute maker Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its burgers, sausages and other products fell despite price cuts. The El Segundo, California-based company lowered its full-year revenue forecast as a result. Beyond Meat now expects revenue between $360 million and $380 million for the year. That’s down from the $375 million to $415 million it forecast at the end of the first quarter. Beyond Meat’s shares fell 10% in after-hours trading Monday. In a conference call with investors, Beyond Meat President and CEO Ethan Brown said the company faced...