Beyond Meat sees Q2 sales jump on restaurant demand

By DEE-ANN DURBIN
AP Business Writer

Plant-based meat maker Beyond Meat says that its revenue jumped 32% in the second quarter as demand from restaurants returned. But the company’s shares dropped after it forecast lower-than-expected third-quarter sales. Beyond Meat said uncertainty about the coronavirus is among the things weighing on its sales projections. The company’s U.S. food-service sales more than tripled in the April-June period as more dining rooms reopened and people ate out. But Beyond Meat said retail demand was down 14%, reflecting a drop from the pandemic stockpiling of 2020. The company reported a second-quarter net loss of 31 cents per share. That was a bigger loss than the 23 cents analysts had forecast.