Beyond Meat Rebounds in Q3

Beyond Meat achieved a significant turnaround in the third quarter, experiencing its first revenue growth since 2022. The plant-based meat producer, based in El Segundo, California, reported a 7.6% increase in revenue, reaching $81 million from July to September. This exceeded Wall Street expectations of $80.1 million, according to FactSet.

The company encountered a 7% decline in the volume of products sold. However, it successfully raised its net revenue per pound by 15.8%. This financial improvement is attributed to Beyond Meat's strategy of reducing reliance on discounts and promoting its newer, healthier meat alternatives as premium offerings. CEO Ethan Brown emphasized that these efforts position the company "to achieve sustained growth." Moreover, Beyond Meat substantially decreased its net loss to $26.6 million, down from $70.5 million in the same quarter last year. This equates to a loss of 41 cents per share, outperforming analysts' predictions of a 48-cent loss. (This story was generated by Newser's AI chatbot. Source: the AP)