Beyond Meat’s Shares Up On Increased Q4 Revenue

Beyond Meat's shares soared last week as investors cheered better-than-expected fourth-quarter revenue and a new, healthier burger that could help revive US sales, according to a report by Dee-Ann Durbin for the Associated Press (AP).

The plant-based meat maker’s stock beefed up more than 78% in after-market trading. I Photo: Beyond Meat Facebook

The plant-based meat maker’s stock jumped more than 78% in after-market trading. The El Segundo, California-based company reported that its revenue for the October-December period fell 8% to $73.7 million.

However, this exceeded the $66.7 million that Wall Street was expecting, according to analysts polled by FactSet.

The company also forecast improving margins this year as a result of significant restructuring.

Beyond Meat trimmed staff and products last year — including its slow-selling plant-based jerky — and also narrowed its sprawling production. Beyond Meat President and CEO Ethan Brown said the company used to rely on 13 outside manufacturing locations in North America; now it uses just one.

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