Beyond Meat (BYND) reports in-line earnings in Q2; tops revenue targets

Beyond Meat (NASDAQ: BYND) reported second quarter 2020 loss of 2 cents per share on an adjusted basis, which came in line with the market’s view. Revenue of $113 million, jumped 69% year-over-year and beat the analysts’ estimates. On a reported basis, the company posted a loss of $10.2 million or $0.16 per share.

Shares of Beyond Meat slumped about 6% in the after-market hours.

Retail sales in the US more than tripled in the quarter, offsetting the weakness in the foodservice business as a result of the ongoing COVID-19 pandemic.

Like last quarter, the company didn’t provide any outlook for fiscal 2020 due to the magnitude and effects of the COVID-19 pandemic.

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Looking forward to read what management and analysts discuss on quarterly results? Stay tuned here for Beyond Meat Q2 2020 earnings call transcript