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| Beyond Meat Implodes After Reporting Catastrophic Q3 Sales |
| 2021-10-22 |
| This POS company & concept just cratered - who coulda seen it coming? [Zero Hedge] - 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. "We really bit the big one this quarter!" 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 * It's NOT meat 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. |
| Posted by:Raj |
| #19 better editing would've made that thought clearer...my bad |
| Posted by: Frank G 2021-10-22 21:22 |
| #18 Whenever I get a full-media MSM press to substitute a known favorite for an unknown crap SJW alternate, I say hell no. Proven right, again |
| Posted by: Frank G 2021-10-22 21:20 |
| #17 Rocky Mountain Oysters Fernando Valley Burgers |
| Posted by: swksvolFF 2021-10-22 18:04 |
| #16 All tastes like mustard to me. |
| Posted by: Skidmark 2021-10-22 17:47 |
| #15 re: taste yes the first and second generation of meat substitutes have been inferior in taste to real meat but just wait a few years and you carnivores may change your mind even today the impossible meat is selling reasonably well - Denny's and Burger King have pretty substantial sales of the product |
| Posted by: Lord Garth 2021-10-22 17:15 |
| #14 orders were unfulfilled because there were non. |
| Posted by: Chris 2021-10-22 16:21 |
| #13 SB, you can take as a parallel to fake meat, the story of turkey "ham". As in the smoke cured dark meat turkey in place of a pork product. Biggest market worldwide, the US (think the ham in a Subway sandwich. #2 market: Israel, because reasons. #3 market: Saudi Arabia, because other reasons. |
| Posted by: ed in texas 2021-10-22 16:03 |
| #12 If vegans are so opposed to eating real meat, they shouldn't be allowed to eat fake meat either. Since their stance is based on morality, they shouldn't cheat the consequence of it. |
| Posted by: Silentbrick 2021-10-22 14:13 |
| #11 #8 well put. Reality can be a B. I can't wait for made in China label. |
| Posted by: Dale 2021-10-22 13:51 |
#10 what is it with veegans wanting a meat substitute? Regular veegan fare is tasteless. |
| Posted by: Bubba Lover of the Faeries8843 2021-10-22 13:34 |
| #9 * Challenges in operations that led to unfulfilled orders Supply chain labor shortage? |
| Posted by: Ebbomoger Speaking for Boskone4589 2021-10-22 12:44 |
| #8 Unexpectedly, something that tastes like $#!+ doesn't sell well. Plus, what is it with veegans wanting a meat substitute? Seems like a contradiction. Why is this not considered "processed food"? We are definitely in the "Crazy Years"! |
| Posted by: AlmostAnonymous5839 2021-10-22 12:27 |
| #7 Demand was impacted by broader ongoing macro and micro-economic factors, including among others, the effects of the COVID-19 Delta variant. Ohhhh....the Delta Variant. I would have guessed the Tri-Lamb. |
| Posted by: swksvolFF 2021-10-22 12:04 |
| #6 I thought Turducken was Frankenfood |
| Posted by: Procopius2k 2021-10-22 11:34 |
| #5 Frankenfood = when other people produce it (not us) |
| Posted by: Merrick Ferret 2021-10-22 10:56 |
| #4 The overall problem is, after telling us for years that 'processed foods' are bad, people aren't willing to go for food products that are by definition 100% processed. Remember "Frankenfood", anybody? |
| Posted by: ed in texas 2021-10-22 10:46 |
| #3 Have seen vegan stuff just sitting in the grocery... |
| Posted by: crazyhorse 2021-10-22 10:29 |
| #2 "The company said that multiple factors contributed to the shortfall during the quarter:" They forgot two: * The product does not taste like meat * Vegetarians prefer to virtue signal their diet and looking like you are eating a burger is the opposite of that. So there is no real market beyond the curious. |
| Posted by: rjschwarz 2021-10-22 10:04 |
| #1 "Beyond Meat" producer of VEGGIE-based meat substitutes. Face it Veggin's there wasn't enough of you willing to support a company geared solely for your dietary lifestyle. |
| Posted by: NN2N1 2021-10-22 10:04 |