Beyond Meat (BYND) Stock Plunges 14% After Slashing Revenue Outlook Amid a Decrease in Retail Orders
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Beyond Meat® Updates Third Quarter 2021 Outlook; Earnings Conference Call Scheduled for November 10, 2021
October 22, 2021 8:30 AM EDTEL SEGUNDO, Calif., Oct. 22, 2021 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (the Company) today announced that the Company is reducing its third quarter net revenues outlook. The Company is proceeding through its quarterly close, and based on preliminary results, the Company now expects third quarter net revenues of approximately $106 million as compared to prior guidance of $120 million to $140 million. Although the Companys previous third quarter guidance anticipated a sequential decline in net revenues, the deceleration was larger than anticipated. Multiple factors contributed to the shortfall during the quarter.
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