Meat substitute manufacturer Beyond Meat has presented its balance sheet.
In the fourth quarter of 2021, Beyond Meat extended its year-over-year loss. The company lost $1.27 per share in the first quarter, down from a loss of $0.400 per share a year earlier. Analysts earlier expected earnings per share – $0.700.
On the sales front, things also got worse, with revenue coming in at $100.7 million after $101.9 million in the same period last year. Thus, Beyond Meat undermined analyst estimates that had previously been as high as $101.0 million.
For the full year, the company lost $2.88 per share after negative earnings per share of $0.850 the previous year. Expert consensus was previously at -$2.247 while revenue was expected at $464.9 million. In fact, Beyond Meat generated $464.7 million in profit for the full year, up from $406.8 million last year.
In US trading on the Nasdaq, Beyond Meat shares temporarily lost 9.73 percent to $44.23.
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Image Credit: Beyond Meat, Pavel Kapysh / Shutterstock.com, Sundry Photography / Shutterstock.com
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