Beyond Meat reports narrow-than-expected quarterly loss despite sinking sales

Beyond Meat said its sales could fall as much as 10% in 2023.

Beyond Meat reported a narrower-than-expected loss and stronger sales than Wall Street anticipated for its fourth quarter.Beyond is prioritizing becoming cash-flow positive above growing sales of its meat alternatives.Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019.on Thursday reported a narrower-than-expected loss for its fourth quarter, despite its sales sinking more than 20%.

Rather than growing sales, Beyond's primary business goal is to become cash-flow positive in the second half of 2023. Its gross margins are expected to be in the low double-digits and increase sequentially throughout the year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The 10 Best New Beauty Launches of February 2023Whether you’re a skincare connoisseur, an avid makeup collector, or simply browsing for something fresh to add to your beauty regimen, these are our favorite new products:
Read more »

Here are the top 10 things people are giving up for Lent 2023Here are the top items people intend to give up for Lent this year.
Read more »

10 Music Supervisors to Watch in 2023: From ‘Yellowjackets’ to ‘Call of Duty’The power of music on screen grows stronger each year. In the past 12 months or so, “Stranger Things” saw ’80s British icon Kate Bush become a superstar stateside as her song “Running Up That Hill”…
Read more »

Lucid Hoping To Make 10-14K EVs In 2023, Well Below ExpectationsLucid announced a 2023 production guidance of 10,000-14,000 vehicles, while analysts on average expected a production goal of 21,815 cars for this year.
Read more »

Pantone Forecasted The Top 10 NYFW Fashion Color Trends For Fall 2023The Pantone Color Institute presented their forecast of the top 10 NYFW fashion color trends for fall 2023. We found them on the runways!
Read more »

Beyond Meat's stock pops on better-than-expected sales, earningsThe fake meat industry may be lacking teeth of late, but investors rewarded Beyond Meat Inc.'s stock on Thursday, promptly propelling it 16% in extended...
Read more »