Beyond Meat (NASDAQ:) shares drop more than 20% after-hours following the company’s reported , with EPS of ($1.58) coming in significantly worse than the consensus estimate of ($1.01).

The revenue grew by 1.2% to $109.5million, which is 1.2% more than the consensus estimate at $112.4 million. However, the total product volume sold was up 12.4% year over year. This was partially offset by approximately 10% decrease in net revenue per pound.

Company provided 2022 year outlook. It expects revenues in the range $560-620million, as opposed to $588.9 million.

Beyond Meat shares were 60% lower year to date going into these results.

Davit Kirakosyan