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.
A year ago the investing blogosphere was all abuzz about Beyond Meat. I hope you got out while it was high.
May it be thus for every purveyor of fake vegan foods.
So the translation of the investor guidance is:
NOT MANY PEOPLE LIKE OUR PRODUCT.
The curiosity and interest prolly waned.
No shock. I have nothing against vegetarian food, but that stuff was just plain nasty.
As I understand it the dirty little secret about fake meat is that is no more healthy for you than real meat....so why bother?
Also, God gave me canine teeth for a reason.
WHAT? Oh NOES! They slaughtered all those plants for naught. Who could have seen this coming?
Mashed up legumes and fungi with some enzymes and carefully selected herbs and spices get kinda old quickly... like after 0 tries...
You gotta laugh at all these envioro/vegan lunatics eating a product that is loaded with all those synthetic chemicals. Rotting road kill is healthier than this stuff.
The whole problem with the concept of a, “meat substitute,” is that there simply is no substitute for meat.
I guess pork was a bridge too far.
Good. They can take coal-burning EV’s down the tubes with them.
Those are trophy size squash. Should have one mounted.
Stuffed..................with sausage...................
All of the marketing for these products has the clear but unstated premise that these products are good for you, and good for the planet. I happen to disagree with both premises, but they’re supposed to make us ignore that they taste like crap
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