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00:02Beyond Meat reported an adjusted loss of $0.29 per share on $61.59 million in revenue for the
00:09fourth quarter, missing estimates for a loss of $0.13 and revenue of $62.57 million.
00:16According to Benzinga, revenue fell 19.7% year-over-year. Volume declined 22.4% due to weak
00:23category demand and lower sales of chicken and burger products to quick-service restaurant
00:28customers. The company reported an operating loss of $132.7 million, compared to $37.8 million in
00:37the prior year. Beyond Meat ended the quarter with $217.5 million in cash and $415.7 million in total
00:47debt. CO Ethan Brown said fourth quarter results reflect ongoing category headwinds and restructuring
00:53costs, while the company repositions its brand to expand into adjacent categories. The company
00:58expects first quarter revenue of $57 million to $59 million. Shares were up by 4.89% at 63
01:06cents in Wednesday's pre-market trading, according to data from Benzinga Pro.
01:11For all things money, visit Benzinga.com.
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