Beyond Meat revenue falls in Q1 on weak demand for plant-based meat in US and abroad

By DEE-ANN DURBIN
AP Business Writer

Beyond Meat is reporting higher-than-expected revenue in the first quarter despite lower demand for its plant-based meats in the U.S. and abroad. The El Segundo, California-based company said Wedneday that its revenue fell 18% to $75.6 million in the January-March period. That was slightly higher than the $75.2 million Wall Street was expecting. It was the eighth straight quarter the company reported year-over-year revenue declines. Beyond Meat said U.S. retail demand was soft despite discounts on its products. And in Europe, demand appeared to cool for its plant-based burger and McNuggets at McDonald’s.