Posted 2/27/2024, 9:51:00 PM
Beyond Meat Posts Wider Loss But Forecasts Improving Margins, Stock Surges Over 60%
- Beyond Meat reported a $155.1 million net loss in Q4, compared to a $66.9 million loss a year ago
- Net revenue declined to $73.7 million from $79.9 million a year ago
- Beyond Meat forecast gross margins in the mid- to high-teens percent range in 2024
- The company provided 2024 sales guidance of $315M-$345M, with analysts expecting $344.4M
- Beyond Meat stock surged over 60% in after-hours trading following the earnings release