By Stephen Nakrosis
Shares of dried-beef snack food company Stryve Foods Inc. were trading lower in Monday’s after-hours session following the release of fourth-quarter financial results.
At 5:15 pm EDT, the company’s shares had fallen 20.8% to trade at $1.58 each. The stock finished the day’s regular session with a 13.64% loss, closing at $1.99 each.
After the bell, Stryve reported a fourth-quarter loss per share of 58 cents on sales of $6.8 million. Its fourth-quarter sales rose 71.3% from the year-ago period.
The company said last year it faced “pervasive industry challenges affecting supply chain, labor and transportation,” adding “these factors negatively impacted our net sales performance in the second half of 2021.” The company fell short of its 2021 net sales range goal of $31 million to $34 million due to the supply chain challenges.
Stryve also said it faced cost pressure related to both labor and commodity cost increases in the second half of last year.
Write to Stephen Nakrosis at [email protected]
Credit: www.marketwatch.com /