Beyond Meat beats Q4 forecasts despite flagging sales

By DEE-ANN DURBIN
AP Business Writer

Beyond Meat reported better-than-expected fourth quarter sales despite flagging consumer demand and lower prices. The plant-based meat maker said its revenue fell 21% to $80 million in the October-December period. Still, that beat Wall Street’s expectations. Analysts polled by FactSet were forecasting revenue of $75.8 million. Beyond Meat’s shares jumped 13% in after-hours trading. The El Segundo, California, maker of plant-based burgers, sausages, nuggets and other products said sales volumes continued to decline despite price cuts in the U.S. and Europe. The company also said the strong dollar also cut into profits from abroad.