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Thread: What will Highstrung do?

  1. #1
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    Default What will Highstrung do?

    Beyond Meat shares crater as losses mount, company expects weak U.S. sales growth ahead

    10 20214:21 PM
    Amelia Lucas
    @THXAMELIAN

    Beyond Meat reported a wider-than-expected loss for its fourth quarter and revenue that fell short of analysts’ estimates.
    The company also disappointed investors with its revenue outlook for the fourth quarter.
    U.S. revenue fell 13.9% compared with a year ago, mostly due to weaker grocery demand.
    In this article

    BYND
    -18.01 (-19.06%)
    After Hours

    Beyond Meat "Beyond Burger" patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
    Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
    Angela Weiss | AFP | Getty Images
    Beyond Meat on Wednesday reported a widening loss in its third quarter as U.S. demand for its meat substitutes shrank and higher costs ate into its profits.

    The company also disappointed investors with its fourth-quarter outlook, indicating that sales aren’t expected to snap back immediately. Shares of the company tumbled 18% in extended trading.

    Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

    Loss per share: 87 cents vs. 39 cents expected
    Revenue: $106.4 million vs. $109.2 million expected
    Beyond reported fiscal third-quarter net loss of $54.8 million, or 87 cents per share, wider than a net loss of $19.3 million, or 31 cents per share, a year earlier. Analysts surveyed by Refinitiv expected a loss of 39 cents per share.

    The company said it faced higher transportation and warehousing costs and increased its inventory write-offs, which hurt its profits.

    Net sales rose 12.7% to $106.4 million, missing expectations of $109.2 million. The company reported strong growth outside the United States, with international grocery and restaurant divisions each seeing sales more than double during the quarter.

    However, U.S. revenue fell 13.9% compared with a year ago, mostly due to weaker grocery demand. The company said softer demand and operational challenges, like severe weather, hurt its domestic sales. New products, like its meatless chicken, slightly offset declines.

    In October, the company warned investors that it would be reporting weaker sales than it had previously predicted, citing a wide range of factors, including the delta variant and distribution problems.

    And the company’s forecast doesn’t indicate a sunnier fourth quarter. Beyond is predicting net sales of $85 million to $110 million for those three months. Wall Street was expecting revenue of $131.6 million during the quarter.

    Beyond said it’s expecting some of the operational challenges from the third quarter to drag down its fourth-quarter results as well. It also cited restaurants’ labor challenges and hesitant ordering behavior due to uncertainty tied to the pandemic as other factors embedded in the outlook. The company noted that the period contains 5 fewer shipping days than a year prior.

    “Near-term market and operating conditions notwithstanding, we remain committed to our long-term strategy,” CEO Ethan Brown said in a statement.

    https://www.cnbc.com/2021/11/10/beyo...-earnings.html

  2. #2
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    I was in California over the weekend, and had 2 bites of fake meat. It was “impossible” brand, and it came in the form of a slider. It was awful. Someone else at the table ordered them, and it was unanimous amount our group of South Carolinians that it was nasty. I would describe it as “mealy”.

    Those people in that Burger King commercial who said they couldn’t tell the difference are liars.
    Them that don't know him won't like him, and them that do sometimes won't know how to take him

    He ain't wrong, he's just different, and his pride won't let him do things to make you think he's right

    They don't put Championship rings on smooth hands

  3. #3
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    If “their” food is so good, why do they spend so much time and money trying to make it taste like our food?
    A vote is like a rifle: its usefulness depends upon the character of the user.

    Theodore Roosevelt; 26th president of US (1858 - 1919)
    ____________________________________________

    “A fear of weapons is a sign of retarded sexual and emotional maturity” Sigmund Freud

  4. #4
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    The only benefit to plant based "meat" is that it is supposedly "good for the planet". Notice that none of the advertisements say that it is good for you. I think most folks are under the assumption it is better for your health than real meat and when the secret gets out that it isn't, nobody is going to want it.

  5. #5
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    .

    Sent from my moto z4 using Tapatalk

  6. #6
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    Beyond Meat shoulda been marketed as Beyond Edible.

  7. #7
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    Quote Originally Posted by Palmetto Bug View Post
    The only benefit to plant based "meat" is that it is supposedly "good for the planet". Notice that none of the advertisements say that it is good for you. I think most folks are under the assumption it is better for your health than real meat and when the secret gets out that it isn't, nobody is going to want it.
    I’d like to compare the factory that cardboard cheeseburger came out of to my deer stand. Not to mention the industrial farm the plant base rolled out of.

    And…if you think a whopper is bad for you, read up on the fake one.

    2B2AEDBB-D4A3-4852-8115-4D3785EF3190.jpeg
    A vote is like a rifle: its usefulness depends upon the character of the user.

    Theodore Roosevelt; 26th president of US (1858 - 1919)
    ____________________________________________

    “A fear of weapons is a sign of retarded sexual and emotional maturity” Sigmund Freud

  8. #8
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    south park hit it on the head. you pretty much gotta be high to enjoy that stuff. And the amount of sodium and bs that goes into it pretty much nullifies any health benefit
    Last edited by BuckyTownsend; 11-10-2021 at 09:44 PM.

  9. #9
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    Sounds like wind and solar energy...

  10. #10
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    Vegan wings are the same price as wings in restaurants and are fried cornmeal dipped in sauce. I can't wrap my head around it.

  11. #11
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    Gross

  12. #12
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    Gives me the shivers....

  13. #13
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    Eating meat is an instinct, not eating it is a decision..

  14. #14
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    Attempting to make plants taste like meat is a scheme rooted on by beelzebub.

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  16. #16
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    I consumed a Starbucks meatless sausage egg and cheese a few months ago because I lost a bet. I have to admit it was better than I expected. Not great of course. I’m not sure I could’ve picked which one was plant based and which one was a frozen jimmy dean sausage biscuit. Neither are great.

  17. #17
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    Quote Originally Posted by murraywader View Post
    Vegan wings are the same price as wings in restaurants and are fried cornmeal dipped in sauce. I can't wrap my head around it.
    That's called taking advantage of stupid people.
    Quote Originally Posted by Birddawg View Post
    I dont know how it was done. For all I know that weird bastard that determined it's gender licked it.

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