Beyond Meat Swings To Profit In Q4
(RTTNews) - Beyond Meat, Inc. (BYND) on Tuesday reported fourth-quarter net income of $409.9 million, compared to a net loss of $44.9 million in the year-ago period.
Net income per share available to common stockholders-basic was $0.84, compared to net loss per share available to common stockholders-basic of $(0.65) in the year-ago period.
Net loss per share available to common stockholders-diluted was $(0.29), compared to net loss per share available to common stockholders-diluted of $(0.65) in the year-ago period
Net income included a $548.7 million non-cash gain on debt restructuring.
Net revenues were $61.6 million, a decrease of 19.7% year-over-year, compared to $76.7 million a year ago. The decrease in net revenues was primarily driven by a 22.4% decrease in volume of products sold, partially offset by a 3.5% increase in net revenue per pound.
