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Home / Business / Beyond Meat outperforms revenue estimates and increases forecasting as demand from Reuters sizzles

Beyond Meat outperforms revenue estimates and increases forecasting as demand from Reuters sizzles




© Reuters. FILE PHOTO: Products from Beyond Meat Inc, the vegan burger manufacturer, will be on sale at a market in Encinitas, California on Monday

(Reuters) – Beyond Meat Inc (O 🙂 The burgers and sausages on a plant basis rose in the second quarter and led to an increase in the annual forecast. The shares fell, however, as the company announced plans for a stock offering.

The company's shares initially rallied after the end of regular trading, but declined 1

0% to $ 199.21, as the company sold 3 million shares of selling shareholders and 250,000 shares itself to raise funds for expansion This is stopped by the booming demand for vegetable burgers and sausages.

Beyond Meats shares have risen by over 780% since the IPO in May, as the company's meat alternatives have surfaced in restaurants such as Carl's and on the shelves number of grocers, including Kroger Co [19659005] (N :).

Net sales nearly quadrupled to $ 67.3 million in the three months ended June 29, according to Refinitive IBES

The Company expects net sales to increase by more than 170% in 2019 $ 240 million, after $ 210 million in the previous month.

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