Beyond Meat Cut 20% of Its Workforce, and More Bad News Is Coming

Motley Fool2022-10-24

Beyond Meat announced on Oct. 14 it was slashing about one-fifth of its workforce as inflation takes a bite out of sales, leading the plant-based meat company to reduce its full-year revenue outlook. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Art77
2022-10-24
Art77
Ok
MichT
2022-10-24
MichT
Why people don't accept fraud meat, I like plant based products as red meats are not healthy to our health and it's ok to swtich diet while you're young and healthy and not wait till sickness come in. It might be too late and suffering. Start healthy diets and cut on meat products especially age are catching up.And it looks like nowadays even younger generations also get illness easily. Just my thoughts and sharing, hope Beyond Meat can push through this critical periods
- ThaiGirl:
  Plant based meat is more hygienic n less waste
- CKF68:
  Organic food
- hwhw123:
  ok
- Jo C:
  Ok
- Ruiqing:
  是
FreePrincess
2022-10-24
FreePrincess
Ok
Vincentan59
2022-10-24
Vincentan59
Thank you Xie Xie
- Vincentan59:
  Good

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2277237439?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-10-24 07:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2277237439","market":"us","top_or_hot":-1,"title":"Beyond Meat Cut 20% of Its Workforce, and More Bad News Is Coming","media":"Motley Fool","content":"<div>\n<p>Beyond Meat announced on Oct. 14 it was slashing about one-fifth of its workforce as inflation takes a bite out of sales, leading the plant-based meat company to reduce its full-year revenue outlook. ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/22/beyond-meat-cut-20-workforce-more-bad-news-coming/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Beyond Meat Cut 20% of Its Workforce, and More Bad News Is Coming</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeyond Meat Cut 20% of Its Workforce, and More Bad News Is Coming\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-24 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/10/22/beyond-meat-cut-20-workforce-more-bad-news-coming/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Beyond Meat announced on Oct. 14 it was slashing about one-fifth of its workforce as inflation takes a bite out of sales, leading the plant-based meat company to reduce its full-year revenue outlook. ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/22/beyond-meat-cut-20-workforce-more-bad-news-coming/\">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":"https://www.fool.com/investing/2022/10/22/beyond-meat-cut-20-workforce-more-bad-news-coming/","article_id":"2277237439","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2277237439","pubTimestamp":1666568404,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The company is desperately trying to cut costs as revenues decline in a tough market for plant-based meats.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BYND":"Beyond Meat, Inc."},"translate_title":"Beyond Meat裁减了20%的员工，更多的坏消息即将到来","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BYND":1},"content_text":"Beyond Meat announced on Oct. 14 it was slashing about one-fifth of its workforce as inflation takes a bite out of sales, leading the plant-based meat company to reduce its full-year revenue outlook. Despite cutting costs to the bone, it's increasingly difficult to see how Beyond Meat can break out of this rut.The company maintains it is on track to save $39 million over the next year and turn cash-flow positive by the second half of 2023, but as consumers are pinched by rising costs, they're not finding faux meat products to be a worthwhile option.Inflation takes a bite out of businessInflation is taking its toll on the business. The Bureau of Labor Statistics says that while the Consumer Price Index was up 8.2% year over year in September, the food-at-home category surged 13.0% in the month as cereal and bakery products bolted 16.2% higher; dairy jumped 15.9%; and meat, poultry, fish, and eggs were up 9.0% from the year-ago period. The decline in gas prices for the month also could not come close to ameliorating the fact the price at the pump remains almost 20% higher than it was last year.Beyond Meat said in a statement that inflation is the \"factor exerting pressure on the [plant-based meat] category as consumers trade down into cheaper forms of protein, including animal meat.\" That likely was the reason why distributors and retailers selling its products allowed their inventories to fall while canceling promotions for the products, not to mention the increased competition Beyond Meat is seeing in the meat aisle. Management is expecting a big hit to margins as a result.Retail sales account for 70% of total revenue, but U.S. food service sales were down in the fiscal second quarter as well, and the partnership with McDonald's for the McPlant sandwich didn't last.Reduce costs by any meansTo conserve cash, the plant-based meat company is firing approximately 200 employees from its global workforce, or about 19% of the total, forcing it to take a $4 million charge. As sales fall, though, Beyond Meat forecasts fiscal third-quarter and full-year 2022 revenue will now be much less than it previously thought.For the third quarter, management is guiding for $82 million of revenue, a 23% year-over-year decline, while the full year will only see revenue of $400 million to $425 million, a far cry from the $470 million to $520 million range the company previously provided. That would represent the company's first-ever drop in annual sales.Cutting costs is essential for Beyond Meat at this point. Year-to-date total revenue of $256.5 million is essentially flat from last year, but operating expenses are up 47% to $181.3 million. The top line weakness has extended overseas, which is also wracked by inflationary pressures, worse even than what the U.S. is experiencing in many cases.The problem is Beyond Meat has long struggled with profitability, and its net losses are spiraling out of control -- quadrupling to $197.6 million through the first half of fiscal 2022 -- as revenue declines. New initiatives have also failed to take off. The partnership with PepsiCo that introduced Beyond Meat Jerky earlier this year actually resulted in gross profit losses of $7.7 million for the fiscal second quarter.Meanwhile, the company is burning through cash and reported $454.7 million in cash and equivalents on its balance sheet as of July 2, down from $733.3 million at the start of the year. With $1.1 billion in debt, it's clear the cost-cutting measures are necessary.A faux discountEven though the stock has fallen over 90% since hitting a pandemic high of about $200 in mid-2020, the stock could go even lower than its current $13 per share if current trends continue.And trading at 1.7 times trailing-12-month sales, the faux meat company's discount to the broad market isn't enough to make up for the risks that come with a business facing this much uncertainty. Investors should stay away from Beyond Meat stock.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9981577054,"gmtCreate":1666575612179,"gmtModify":1676537769746,"author":{"id":"3572384308657165","authorId":"3572384308657165","name":"Art77","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572384308657165","authorIdStr":"3572384308657165"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9981577054","repostId":2277237439,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9981552830,"gmtCreate":1666572582220,"gmtModify":1676537769030,"author":{"id":"4101198001266260","authorId":"4101198001266260","name":"MichT","avatar":"https://static.tigerbbs.com/77f87c46e06ac2aee91bc63f1a527221","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4101198001266260","authorIdStr":"4101198001266260"},"htmlText":"Why people don't accept fraud meat, I like plant based products as red&nbsp;meats are not healthy to our health and it's ok to swtich diet while you're young and healthy and not wait till sickness come in. It might be too late and suffering. Start healthy diets and cut on meat products especially age are catching up.And it looks like nowadays even younger generations also get illness easily. Just my thoughts and sharing, hope Beyond Meat can push through this critical periods","listText":"Why people don't accept fraud meat, I like plant based products as red&nbsp;meats are not healthy to our health and it's ok to swtich diet while you're young and healthy and not wait till sickness come in. It might be too late and suffering. Start healthy diets and cut on meat products especially age are catching up.And it looks like nowadays even younger generations also get illness easily. Just my thoughts and sharing, hope Beyond Meat can push through this critical periods","text":"Why people don't accept fraud meat, I like plant based products as red meats are not healthy to our health and it's ok to swtich diet while you're young and healthy and not wait till sickness come in. It might be too late and suffering. Start healthy diets and cut on meat products especially age are catching up.And it looks like nowadays even younger generations also get illness easily. Just my thoughts and sharing, hope Beyond Meat can push through this critical periods","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":13,"repostSize":0,"link":"https://ttm.financial/post/9981552830","repostId":2277237439,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104479005,"gmtCreate":1666572761096,"gmtModify":1666572765491,"authorId":4096881297965510,"author":{"id":4096881297965510,"idStr":"4096881297965510","authorId":4096881297965510,"name":"ThaiGirl","avatar":"https://static.tigerbbs.com/ed7fd22ceea4dbb8d99a0f7a7bd466af","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981552830,"type":1,"supId":0,"prevId":0,"content":"Plant based meat is more hygienic n less <u>waste</u>","text":"Plant based meat is more hygienic n less <u>waste</u>","html":"Plant based meat is more hygienic n less <u>waste</u>"},{"id":104478992,"gmtCreate":1666572730699,"gmtModify":1666572737394,"authorId":4088757684331200,"author":{"id":4088757684331200,"idStr":"4088757684331200","authorId":4088757684331200,"name":"CKF68","avatar":"https://static.tigerbbs.com/0fd6cab827059eec333bac6fa0dfde42","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.09.29","exceedPercentage":"80.09%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981552830,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Organic food</span>","text":"<span class=\"s1\">Organic food</span>","html":"<span class=\"s1\">Organic food</span>"},{"id":104478988,"gmtCreate":1666572720620,"gmtModify":1666572723900,"authorId":3578710390898389,"author":{"id":3578710390898389,"idStr":"3578710390898389","authorId":3578710390898389,"name":"hwhw123","avatar":"https://static.tigerbbs.com/d8403e7374bdcb179a82aff3b6d9338e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981552830,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":104478987,"gmtCreate":1666572719538,"gmtModify":1666572722873,"authorId":4098938020639910,"author":{"id":4098938020639910,"idStr":"4098938020639910","authorId":4098938020639910,"name":"Jo C","avatar":"https://static.tigerbbs.com/e2ab6d442e45d8dab6641deb38c308fe","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.03.18","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981552830,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Ok</span>","text":"<span class=\"s1\">Ok</span>","html":"<span class=\"s1\">Ok</span>"},{"id":104478984,"gmtCreate":1666572707186,"gmtModify":1666572710698,"authorId":4119331802872342,"author":{"id":4119331802872342,"idStr":"4119331802872342","authorId":4119331802872342,"name":"Ruiqing","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981552830,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">是</span>","text":"<span class=\"s1\">是</span>","html":"<span class=\"s1\">是</span>"}],"langContent":"EN"},{"id":9981567153,"gmtCreate":1666570692072,"gmtModify":1676537768516,"author":{"id":"3582347714998199","authorId":"3582347714998199","name":"FreePrincess","avatar":"https://static.tigerbbs.com/e5875e48241b7c20bf1855e00a4224eb","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3582347714998199","authorIdStr":"3582347714998199"},"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9981567153","repostId":2277237439,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9981584767,"gmtCreate":1666569246459,"gmtModify":1676537768183,"author":{"id":"4098866635611070","authorId":"4098866635611070","name":"Vincentan59","avatar":"https://community-static.tradeup.com/news/a5c91735e742c607283b7643b505c8e4","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":2,"crmLevelSwitch":1,"idStr":"4098866635611070","authorIdStr":"4098866635611070"},"htmlText":"Thank you Xie Xie","listText":"Thank you Xie Xie","text":"Thank you Xie Xie","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9981584767","repostId":2277237439,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104478622,"gmtCreate":1666571261932,"gmtModify":1666571266038,"authorId":4098866635611070,"author":{"id":4098866635611070,"idStr":"4098866635611070","authorId":4098866635611070,"name":"Vincentan59","avatar":"https://community-static.tradeup.com/news/a5c91735e742c607283b7643b505c8e4","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.03.09","exceedPercentage":"93.84%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9981584767,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Good</span>","text":"<span class=\"s1\">Good</span>","html":"<span class=\"s1\">Good</span>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":39,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2277237439"}