Beyond Meat reversed a sales slide in the third quarter, growing revenue for the first time since 2022 as it charged higher prices for its plant-based meat.
The El Segundo, California-based company said Wednesday its revenue rose 7.6% to $81 million in the July-September period. That was higher than the $80.1 million Wall Street was expecting, according to analysts polled by FactSet.
Still, Beyond Meat’s shares fell nearly 6% in after-hours trading after it said it expects full-year net revenue in the range of $320 million to $330 million. That’s at the low end of its previous forecast.
Beyond Meat said it saw a 7% decrease in the volume of products sold but a 15.8% increase in net revenue per pound. The company has been trying to rely less on discounting and position its newer, lower-fat burgers, sausages and grounds as premium products.
Among those new products is Beyond Sun Sausage, which is filled with bell …