On Monday, plant-based meat company Beyond Meat announced its revenue dropped 30% during Q2.
As a result, Beyond Meat has declined its revenue expectations for the year to between $360 million and $380 million, said company CEO and President Ethan Brown.
This updated revenue range would be between 9% and 11% less than the plant-based meat company’s revenue in 2022.
According to Brown, Beyond Meat’s main issues in attracting revenue have been “high inflation, rising interest rates, and ongoing concerns about the likelihood of a recession” nationwide this year.
