Beyond Meat reports Q2 EPS (43c), consensus (39c)

Reports Q2 revenue $75.0M, consensus $83.7M. Beyond Meat (BYND) President and CEO Ethan Brown commented, “We are disappointed with our second quarter results, which primarily reflect ongoing softness in the plant-based meat category, particularly in the U.S. retail channel and certain international foodservice markets. We are responding by accelerating our transformation activities, including more rapidly and aggressively reducing our operating expenses to fit anticipated near term revenues; prioritizing increased distribution of our core product lines; and investing in margin expansion initiatives across these core products.”