Beyond Meat (BYND) Q3 2022 earnings


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 on Wednesday reported a wider-than-expected loss for its third quarter as demand for its meat substitutes tumbled.

CEO Ethan Brown called the results “disappointing” in the press release. Cash-strapped shoppers are skipping Beyond’s burger, sausage and chicken substitutes and instead buying cheaper proteins, according to Brown.

Shares of the company were effectively flat in after-hours trading. The stock closed down 9% on Wednesday.

Here’s what the company reported compared with what Wall Street was expecting, based on…

Source cnbc.com

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