Beyond Meat Q3: Shares Sink On Earnings, Guidance As CEO Touts 'Three Important Building Blocks'
1. Beyond Meat's Q3 revenue declined 13.3% year-over-year to $70.2 million. 2. The company's loss of 47 cents per share missed analyst estimates. 3. Lower sales in US retail and foodservice, down 18.4% and 27.3% respectively. 4. Fourth-quarter revenue guidance lowered to $60-$65 million from $70 million estimate. 5. CEO emphasized significant debt reduction and sustainable operations as priorities.