Beyond Meat’s Five-Year Losses and $1.2 Billion Debt Lead Analysts to Lower Ratings
- Beyond Meat's Q3 earnings miss and revenue drop led to an 8% stock decline, extending its 78.8% annual slump. - Analysts downgraded to "Underperform" as $1.2B debt and $77.4M impairment charges highlight ongoing financial strain. - International sales showed mixed results, with U.S. retail and foodservice revenue falling sharply by 18.4% and 27.3%. - Despite cost cuts and debt restructuring, the company remains unprofitable since its 2019 IPO, with Q4 guidance below expectations.
Shares of Beyond Meat (BYND) plunged after the company released a lackluster third-quarter earnings report, prompting Mizuho Securities to cut its price target to $1 as losses deepened and sales continued to slide. The alternative protein company posted a non-GAAP per-share loss of $0.47, coming in $0.04 below analyst expectations, while revenue dropped 13.3% year-over-year to $70.2 million,
The company’s ongoing difficulties were highlighted by
Market sentiment has turned negative,
The company’s financial position is still under pressure,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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