UBC Media Relations
Preliminary sales for the corporation from July to September was $75 million, with a $7-8 million gross loss. The average projection for Beyond Meat's third-quarter sales among analysts surveyed by FactSet was $88 million.
The corporation will reveal its complete quarterly financial results on November 8.
"We expected a return to modest profitability in the third quarter, but that did not happen, driven by intra-industry factors and consumer trends," Ethan Brown, CEO of Beyond Meat, stated. "We intend to drastically cut operating expenses in addition to taking action to address the issues that are within our purview."
source: bloomberg.com
The corporation will reveal its complete quarterly financial results on November 8.
"We expected a return to modest profitability in the third quarter, but that did not happen, driven by intra-industry factors and consumer trends," Ethan Brown, CEO of Beyond Meat, stated. "We intend to drastically cut operating expenses in addition to taking action to address the issues that are within our purview."
source: bloomberg.com
