(Reuters) – Beyond Meat Inc (O 🙂 on Monday said demand for its plant-based burgers and sausages rose high in the second quarter and saw an increase in the full-year forecast, but the shares fell as the company announced plans for a share offer.
The company's shares originally traded higher after the close of ordinary trading, but fell 1
Beyond Meat's shares have risen above 780% since its May listing as the company's meat alternatives have entered the menus of restaurants such as Carl's Jr. and in shelves of grocers including Kroger Co (N :).
Net revenues increased almost fourfold to $ 67.3 million in the three months ended June 29, above Wall Street's estimate of $ 52.71 million, according to Refinitive IBES data.
The company said it expects net revenues to rise above 170% to $ 240 million in 2019, up from the previous $ 210 million it had forecast last month.
Fusion Media or anyone involved in Fusion Media will not be liable for any loss or damage as a result of the information including data, offers, charts and signals / purchases of signals on this site. Be fully informed about the risks and costs associated with trading in the financial markets, it is one of the most risky forms of investment possible.