Beyond Meat Makes Excuses for Tumbling Sales
Opinions vary on whether plant-based meat substitutes are a blessing or a curse. Some will point to perceived health and environmental benefits. Others will balk at the laundry list of ingredients necessary to make processed fake meat look and taste like real meat.
One thing is for certain: Consumers aren't buying it. Fake-meat pioneer Beyond Meat (NASDAQ: BYND) originally expected to generate somewhere between $120 million and $140 million in revenue for the third quarter. With the third quarter now in the books, the company fell short of that goal.
Beyond Meat slashed its revenue outlook to just $106 million last week, prompting the stock to tumble on Friday. If that number is what the company ultimately reports when it discloses its full results on Nov. 10, revenue will be down nearly 30% from the second quarter.
Source Fool.com
