Posted on 10/22/2021 7:14:21 AM PDT by Brookhaven
Beyond Meat Implodes After Reporting Catastrophic Q3 Sales
Confirming yesterday’s observation that the market is quick and merciless to punish any and all stocks that miss expectations this quarter, moments ago (former growth stock) Beyond Meat plunged 14% after reporting preliminary net revenue for third quarter of about $106 million, missing the estimate of $134.3 million by about 30%, and a huge disappointment to the company’s prior guidance which was $120 million to $140 million.
As Bloomberg notes, while the Company’s previous third quarter guidance anticipated a sequential decline in net revenues, the deceleration was far larger than anticipated.
The company said that multiple factors contributed to the shortfall during the quarter:
• Demand was impacted by broader ongoing macro and micro-economic factors, including among others, the effects of the COVID-19 Delta variant
• Challenges in operations that led to unfulfilled orders Company experienced decrease in retail orders that persisted longer than expected from a Canadian distributor
None of this mattered to investors who now sees just round after round of excuses from the management team, which will soon be on the chopping block unless it manages to restore some of the company’s previous growth.
You’re bad.
I’m a ‘Second-Hand Vegan’.
I eat things that eat veggies....................
I am making Sephardic Eggplant Salad tonight. It’s similar to ratatouille. Mmmm.
Good one!
I still don’t understand the idea of making meatless products look like meat.
IMHO if somebody was vegan the sight of a meat looking product would appall them just as much as eating it would!
There’s plenty of dishes out there that are made from vegetation that look very appealing. Does it have to look like a Turkey, a hotdog, or a hamburger patty... I mean come’on man!
Yes, and highly processed and full of "substances" and sodium.
I agree. It was too much like meat to appeal to vegetarians, and not enough like meat to satisfy carnivores.
Maybe consumers were anticipating cheap-as-a-can-of-Wmart-beans prices. It was marketed as... and went boutique as expected.
The humble can of beans (No salt) may be healthier anyway.
I had coffee this morning with a Brit friend. She is very sensible. Trying to get along in a world full of, take your pick, fake news; outright lies or propaganda she enjoyed me relating a BBC International article from yesterday.
Seems the ‘reportateete'was fishing for the ‘right answers’ from the person brought on to discuss the virtues of vegan food.
Everything was going just swell until this expert (correctly) pointed out that to create deeply processed vegan they removed all the flavor and much of the fiber. How to make it palatable? Well just add lots of sugar, salt and fat. (I think the expert called this the "unholy trinity" and I agreed) Of course the fat was the wrong kind. The salt was too much and we all know about too much sugar.
Needless to say, the reporterette was a bit put off. Sorry for the rant, but, your post hit a nerve!
Don’t be silly.
Of course they’re not made of grass and leaves; I never said that.
But they do convert matter that has no nutritional value to humans to matter that does have nutritional value to humans.
Good job there Red.
Thanks for the laugh.
He bagged his limit!............................
Why is it vegans want to taste meat? Ingredient list - water, pea protein, expeller-pressed canola oil, refined coconut oil, rice protein, natural flavors, cocoa butter, mung bean protein, methylcellulose, potato starch, apple extract, pomegranate extract, salt, potassium chloride, vinegar, lemon juice concentrate, sunflower lecithin, beet juice extract.
Beyond Ground Beef $7.20 lb vs. $3.08 for the real thing.
This might be a buying opportunity if the price of real beef explodes.
Beyond Meat , never seen it or never noticed it ,LOL
“Beyond” Meat is “Approaching” the dumpster.
Cows process grass and leaves into YUM
OK, I'm kidding. Governments would never do a thing like that, would they? Would they?
They’re blaming the covid boogey man because no one wants fake meat. lol
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