Beyond Meat Soars Postmarket; Plans to Break Even in 2019
Investing.com – Beyond Meat topped quarterly on the top and bottom lines Thursday and also issued bullish guidance, helping shares move higher after hours.
The newly-public maker of vegetable meat substitutes reported a fiscal first-quarter loss of 14 cents per share, a penny narrower than the 15 cents per share analysts were expecting, according to forecasts compiled by Investing.com.
Revenue of $40.2 million topped forecasts for $38.9 million.
Looking ahead, the company said it predicts revenue of $210 million for 2019, ahead of the S&P Capital IQ consensus of about $205 million. It also says it expects breakeven 2019 earnings before interest, taxes, depreciation and amortization (EBITDA), compared with forecasts for a loss of 12 cents per share.
Beyond Meat (NASDAQ:) shares jumped 17% postmarket.
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