May 7 (Reuters) - Beyond Meat BYND.O on Wednesday withdrew its annual sales target and forecast current quarter net revenue below estimates, citing weak consumer demand due to macroeconomic volatility and high inflation in the U.S.
The company now expects second-quarter net revenues in the range of $80 million to $85 million, compared with analysts' average estimate of $93.5 million, according to data compiled by LSEG.
Beyond Meat had earlier forecast annual net revenue of $320 million to $335 million.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Leroy Leo)
((Juveria.Tabassum@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.