“We have a myopic focus on doing one thing, which is building a perfect piece of meat directly from plants,” Beyond Meat CEO Ethan Brown says. Where do you fall on the plant-meat debate?
on Monday reported its first quarterly profit and topped analysts' expectations for its fiscal third-quarter earnings and revenue.
Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Beyond reported fiscal third-quarter net income of $4.1 million, or 6 cents per share, up from a loss of $9.3 million, or $1.45 per share, a year earlier. Analysts surveyed by Refinitiv were expected earnings of 3 cents per share.rose 250% to $92 million, topping expectations of $82.2 million.
Despite increased competition, its grocery business saw net sales of $50.5 million during the busy summer grilling months. Brown said that the company has not seen any diminished grocery sales or shelf space as a result of new competition entering the space.
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