{"id":1734458,"date":"2022-11-11T06:00:07","date_gmt":"2022-11-11T11:00:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1734458"},"modified":"2022-11-11T06:03:00","modified_gmt":"2022-11-11T11:03:00","slug":"fake-meat-industry-falls-on-hard-times-as-customers-realize-their-products-are-inedible","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fake-meat-industry-falls-on-hard-times-as-customers-realize-their-products-are-inedible\/","title":{"rendered":"Fake Meat Industry Falls on Hard Times as Customers Realize Their Products Are Inedible"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffake-meat-industry-falls-on-hard-times-as-customers-realize-their-products-are-inedible%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1734458&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Beyond Meat CEO Ethan Brown is taking a more muted near-term outlook on his business amid rising competition in plant-based meats and an inflation-zapped consumer trading down to cheaper proteins.<\/p>\n<p>&#8220;A shakeout does appear to be underway, and we expect more brands to either retreat or consolidate,&#8221; Brown told analysts on an earnings call late Wednesday. &#8220;A less cluttered playing field to [then] emerge in the mid-term.&#8221;<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\">\n<div>\n<div class=\"caas-img-container caas-img-loader\"><img class=\"caas-img caas-lazy has-preview\" alt=\"A McDonald&#39;s\" data-src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/e2f07f90-f99b-11e9-bb4d-8e76a9107154\" src \/><noscript><img decoding=\"async\" alt=\"A McDonald&#39;s\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/e2f07f90-f99b-11e9-bb4d-8e76a9107154\" class=\"caas-img\" \/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">A McDonald&#8217;s &#8220;PLT&#8221; burger with a Beyond Meat plant-based patty at one of 28 test restaurant locations in London, Ontario, Canada October 2, 2019. REUTERS\/Moe Doiron<\/figcaption><\/p>\n<\/figure>\n<p>Here is how Beyond Meat performed compared to Wall Street estimates:<\/p>\n<p>And here are a few key highlights from the financial statements:<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>U.S. sales -7.9% year over year.<\/p>\n<\/li>\n<li>\n<p>Adjusted operating loss of $73.8 million vs. a loss of $36.8 million last year.<\/p>\n<\/li>\n<li>\n<p>Cash $390 million vs. $733 million as of Dec. 31, 2021.<\/p>\n<\/li>\n<\/ul>\n<p>Beyond Meat stock rose 1% in pre-market trading on Thursday. The company&#8217;s ticker page was among the <a href=\"https:\/\/finance.yahoo.com\/trending-tickers\" data-ylk=\"slk:most visited on Yahoo Finance\" class=\"link\">most visited on Yahoo Finance<\/a> through mid-morning.<\/p>\n<p>Wall Street is staying mostly bearish on Beyond Meat given the increasingly volatile industry backdrop.<\/p>\n<p>&#8220;We emerged from El Segundo, CA, based Beyond Meat\u2019s 3Q22 earnings call with more questions than answers,&#8221; JP Morgan analyst Ken Goldman wrote in a note to clients. &#8220;Although we respect the company\u2019s newfound dedication to cash flow, we don\u2019t see the path to FCF [free cash flow] positivity as clearly as management does, especially since it relies on the restoration of top line growth.&#8221;<\/p>\n<p>Goldman, who reiterated an Underweigh rating on Beyond Meat shares, added that &#8220;cash is down to $390MM (it was $1.1B a year ago) and likely will keep falling over the next three quarters. Management says it will be FCF positive a year or so from now, but we find it difficult to give them the benefit of the doubt, not until we see evidence that its forecasting has become more reliable.&#8221;<\/p>\n<p><a href=\"https:\/\/www.yahoo.com\/author\/brian-sozzi\/\" data-ylk=\"slk:Brian Sozzi\" class=\"link\"><em>Brian Sozzi<\/em><\/a><em> is an editor-at-large and <\/em><a href=\"https:\/\/finance.yahoo.com\/videos\/\" data-ylk=\"slk:anchor at Yahoo Finance\" class=\"link\"><em>anchor at Yahoo Finance<\/em><\/a><em>. 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competition in plant-based meats and an inflation-zapped consumer trading down to cheaper proteins.&#8221;A<\/p>\n","protected":false},"author":1,"featured_media":1734461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1734458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1734458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1734458"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1734458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1734461"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1734458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1734458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1734458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}