Beyond Meat (BYND) Misses Q3 EPS by 47c, Guidance Misses
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Beyond Meat® Reports Third Quarter 2022 Financial Results
November 9, 2022 4:05 PM ESTEL SEGUNDO, Calif., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (Beyond Meat or the Company), a leader in plant-based meat, today reported financial results for its third quarter ended October 1, 2022.
Third Quarter 2022 Financial Highlights1
Net revenues were $82.5 million, a decrease of 22.5% year-over-year.Gross profit was a loss of $14.8 million, or gross margin of -18.0% of net revenues. Gross profit was negatively impacted by approximately $7.2 million, or -8.8 percentage points of gross margin, of underutilization fees and... More