Beyond Meat Reports Deepening Losses Amid Declining Plant-Based Demand
Beyond Meat reports $110.7M Q3 loss as sales drop 13% to $70.2M. Asset impairment charges, weak U.S. demand, and category headwinds weigh heavily on plant-based meat company.
Beyond Meat reports $110.7M Q3 loss as sales drop 13% to $70.2M. Asset impairment charges, weak U.S. demand, and category headwinds weigh heavily on plant-based meat company.
Beyond Meat postpones Q3 earnings to Nov. 12 citing "material weakness" in internal controls and uncertainty over asset impairment charges. No changes to past financials expected.
Plant-based meat maker Beyond Meat (BYND) delayed its Q3 earnings release to calculate a massive asset write-down.
Despite beating revenue estimates in Q3 with $70 million and a favorable arbitration ruling, Beyond Meat shares fell. Analysts remain cautious due to weak fundamentals and sector headwinds.
Beyond Meat stock explodes 200%+ this week after joining meme stock ETF and Walmart expansion deal.
Beyond Meat traded debt for new shares and notes to gain time, but the resulting massive dilution caused the stock to plummet by as much as 46%.