Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales

By DEE-ANN DURBIN
AP Business Writer

Plant-based meat maker Beyond Meat urged investors to look past its mixed first quarter results Wednesday, saying a new, healthier burger just hitting U.S. shelves will help reignite weak sales. The comments came after a bumpy first quarter that saw lower demand for Beyond Meat’s burgers, steak and chicken in the U.S. and abroad. The El Segundo, California-based company said its revenue fell 18% to $75.6 million in the January-March period. That was slightly higher than Wall Street expected. It was the eighth straight quarter the company reported year-over-year revenue declines. Beyond Meat saw lower retail and food service sales in the U.S. and abroad during the quarter.