Beyond Meat, Inc. (BYND) shares plummeted 9.25% in after-hours trading on Wednesday following the release of its second-quarter financial results that fell short of analyst expectations. The plant-based meat alternative company reported disappointing earnings and announced further cost-reduction measures, including workforce reductions.

The company's Q2 adjusted earnings per share came in at $(0.40), missing the analyst consensus estimate of $(0.37). Revenue for the quarter was $75 million, significantly below the expected $82 million and representing a 19.56% decrease compared to the same period last year. Beyond Meat also reported a net loss of $33.2 million for the quarter.

In response to the challenging operating environment, Beyond Meat announced it would implement organizational changes and cost-reduction measures. This includes a plan to reduce its current workforce in North America by approximately 44 employees. The company expects to incur one-time cash charges of about $0.8 million to $1.3 million in connection with this reduction in force. Furthermore, Beyond Meat refrained from providing full-year guidance, citing an "elevated level of uncertainty within its operating environment." For the third quarter of 2025, the company projects net revenues to be in the range of $68 million to $73 million, indicating continued pressure on sales.