Beyond Meat (BYND) Prelim. Q3 Revenue Misses Consensus, Cuts FY Guidance
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Beyond Meat (BYND) cuts outlook as demand softness continues to bite
November 2, 2023 10:10 AM EDTBeyond Meat (NASDAQ: BYND) provided a profit warning for the third quarter and full year in a release of select Q3 results on Thursday, with sales weaker than expected during the quarter.
The company also revealed it is cutting 19% of its global, non-production workforce as it looks to reduce expenses, with an expected return to growth failing to occur.
The struggling plant-based food business now expects Q3 Gross profit to be a loss of approximately $7 million to $8 million, with revenue at... More
