Operations

Beyond Meat reports disappointing Q4

February 25, 2022

Beyond Meat reported a disappointing fourth quarter 2021, despite the brand's launch of KFC's Beyond Fried Chicken and McDonald's test of its highly anticipated McPlant burger, made with Beyond Meat's plant-based beef derivative, according to a CNBC report.

Beyond Meat's stock fell 11% in extended trading. Loss per share equaled $1.27 versus 71 cents expected. The brand also reported revenue of $100.7 million versus the expected $101.4 million.

The company also reported a fourth quarter net loss of $80.37 million over the expected loss of $25.08 million.

Beyond is looking at 2022 revenue of $560 million to $620 million, an increase of 21% to 33% compared to 2021.

"The investments we made in our team, infrastructure, and capabilities across the U.S., EU, and China, as well as extensive product scaling activities for key strategic partners, weighed heavily on operating expenses and gross margin during a fourth quarter and year that were already impacted by lower-than-expected volumes," Ethan Brown, CEO of Beyond Meats, said during a conference call with analysts.