22 Aug 2022
The US vegetable protein company Beyond Meat continues to fight against the global recession and the low level of demand for its products. The company reported losses of $97.1 million in the second quarter of the year, compared to a loss of $19.7 million in the same period last year.
In the first six months of this year, losses ballooned to $197.6 million, compared to the $46.9 million loss in the same period of 2021. Revenue fell by 1.6% r over the last quarter to $147 million.
Beyond Meat also lowered its full-year sales forecast to between $470 to $520 million, down from its previous forecast of $560 to $620 million.