BYND forecasts lower revenue amid declining consumer interest in plant-based protein products.
Beyond Meat Inc. shares fell after the company issued softer-than-expected guidance, citing continued weakness in plant-based meat demand. The outlook reflects ongoing challenges in converting consumers to alternative proteins amid high prices and shifting preferences.
Analysts had anticipated a modest rebound following a 30% revenue decline in the prior quarter. Instead, Beyond Meat warned of further pressure, with sales trends remaining sluggish across retail and foodservice channels.
The stock dropped 8% in after-hours trading, extending a year-to-date decline of over 50% as competitors also struggle to gain traction in the category.