Stock Track | Beyond Meat Plunges on Weak Demand Outlook and Equity Raise Plans

Stock Track11-07

Shares of Beyond Meat, Inc. (BYND) plummeted by over 10% on November 7, 2024, following the company's third-quarter earnings release. Despite reporting better-than-expected revenue growth of 7.6% year-over-year and substantial improvements in gross margins, the stock tumbled due to concerns over weaker demand outlook and plans for an equity raise.

Beyond Meat lowered its full-year revenue guidance to a range of $320 million to $330 million, down from the previous estimate of $320 million to $340 million, citing soft demand for its plant-based meat products. The company also reported a 7.1% decline in the volume of products sold, indicating that the revenue growth was primarily driven by pricing actions and reduced trade discounts.

Additionally, Beyond Meat announced plans to raise additional capital through an at-the-market equity offering program, which could lead to dilution for existing shareholders. The company cited the need to bolster its balance sheet and restructure its substantial debt burden, which stood at $1.1 billion as of the end of the third quarter.

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(BYND) plummeted by over 10% on November 7, 2024, following the company's third-quarter earnings release. Despite reporting better-than-expected revenue growth of 7.6% year...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BYND","symbol_name":"Beyond Meat, Inc.","start_time":0,"source_url":"","article_id":"1144625985","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1144625985","pubTimestamp":1730991625,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Beyond Meat, Inc.  plummeted by over 10% on November 7, 2024, following the company's third-quarter earnings release. 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