Beyond Meat Beats Q2 Guidance With $68.8M in Revenue, Names Olam Veteran as COO

Beyond Meat reported second-quarter net revenues of $68.8 million, exceeding its own guidance range of $60 million to $65 million. The company also announced the appointment of Brijesh Krishnaswamy as chief operating officer, bringing in leadership experience from Olam Food Ingredients. The quarter saw a swing from a $31.8 million net loss to a net income of $16.4 million, driven mainly by non-cash gains.

International retail was a growth area for Beyond Meat, with sales rising in European markets, the UK, and Canada. However, US retail and foodservice channels experienced declines, attributed to weak category demand. Founder Ethan Brown also returned to the board, focusing on stabilizing the plant-based meat business and expanding into faster-growing adjacent categories. The company projects net revenues of $60 million to $65 million for the third quarter.