Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as it offered steeper discounts and cheaper prices to international consumers.
Shares of the company fell more than 24% in extended trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Loss per share: $1.58 adjusted vs. $1.01 expected
- Revenue: $109.5 million vs. $112.3 million expected
Beyond reported first-quarter net loss of $100.5 million, or $1.58 per share, wider than its net loss of $27.3 million, or 43 cents per share, a year earlier.
Excluding items, the company lost $1.58 per share, wider than the $1.01 per share expected by analysts surveyed by Refinitiv.
Net sales rose 1.2% to $109.5 million, falling short of expectations of $112.3 million.