Beyond Meat lowers revenue forecast amid disappointing sales

Beyond Meat Inc (NASDAQ: BYND) on Thursday lowered its revenue forecast for the year after reporting lower sales for the quarter.

The company now expects revenue of $470 million to $520 million for 2022, down from its prior forecast of $560 million to $620 million.

Beyond Meat blamed inflation, rising interest rates and recession worries for the lower outlook for the year.

In the second quarter, the company posted revenue of $147 million, compared to expectations of $149.2 million, according to Refinitiv.