Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
Angela Weiss | AFP | Getty Images
Beyond Meat‘s stock cratered 19% in premarket trading Thursday after the company reported a widening loss in its third quarter as U.S. demand for its meat substitutes shrank and higher costs ate into its profits.
The company also disappointed investors with its fourth-quarter outlook, released after the market closed Wednesday, indicating that sales aren’t expected to snap back immediately.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Loss per share: 87…