Beyond Meat Stock Stumbles As Q4 Earnings Come Up Short

Beyond Meat Inc (NASDAQ: BYND) reported fourth-quarter revenue of $61.59 million, falling short of analyst estimates of $62.57 million, and posted an adjusted loss of 29 cents per share, compared to an expected loss of 13 cents. Revenue declined 19.7% year-over-year, attributed to a 22.4% decrease in product volume sold due to weak demand. The company ended the quarter with $217.5 million in cash and $415.7 million in total debt, and expects first-quarter net revenue between $57 million and $59 million. Following the earnings report, Beyond Meat's stock dropped 9.71% in after-hours trading, reaching approximately 63 cents.