To counter weak demand in the United States, Beyond Meat, which supplies its plant-based meat patties to fast food chains such as McDonald's and Yum!
The company has also been able to sustain demand for plant-based meat in its international markets, particularly Europe.
Cost-cut measures, including job cuts taken last year, have also helped reduce the burden on margins from sluggish demand in the United States.
Net revenue for the fourth quarter fell 7.8% to $73.7 million, but topped analysts' average estimate of $66.7 million, as per LSEG data.
Still, the company's full-year net revenue forecast in the range of $315 million to $345 million was largely below market expectations of $343.8 million.
Persons:
Ethan Brown
Organizations:
Brands
Locations:
Miami , Florida, United States, U.S, Europe