Beyond Meat forecasts upbeat quarterly revenue on steady international demand

Aug 5 (Reuters) - Faux ‌meat-products maker ​Beyond ​Meat forecast third-quarter revenue above Wall Street estimates on Wednesday, as resilient ‌demand in its international segment helped counter ⁠declining U.S. sales.

Here are the details:

• Beyond Meat, which ‌struggled to revive the ‌initial enthusiasm for its plant-based products, has been rolling out new products such as Beyond ​Immerse protein drinks to drum up demand.

• The company expects third-quarter revenue of $60 million ⁠to $65 million, the midpoint of which is above analysts' average estimate ​of $62.2 million, according to data compiled by LSEG.

• Quarterly loss came in at ​9 cents per share ‌on an adjusted basis, compared with a loss of 39 cents a ⁠year ago.

• Beyond Meat posted revenue of $68.8 million for the second quarter, beating estimates of $62.4 million.

• Sales ⁠at its international retail segment rose 16.5% in the ​quarter ended June 30 from a year ago.

• The company posted a 14.4% fall in its quarterly U.S. ‌sales, hurt by weaker consumer spending and a preference for healthier alternatives.

• ‌Beyond Meat's shares, which experienced a meme-stock frenzy ⁠last year, were ‌down 3% in ​extended trading following the results.

(Reporting by Koyena Das in Bengaluru; Editing by Shreya ‌Biswas)

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