Plant-based meat was supposed to save the pIanet, make people healthier, and liberate enslaved cows, chickens, and pigs everywhere. Instead, after an impressive start, folks have learned some hard truths about the industry and are turning away in droves.
Once consumers began to Iearn that plant-based meats were still super processed, not nearly as healthy as advertised, and required an enormous amount of machinery to produce hungry consumers largely decided that the old-school options, nameIy chickens, pigs, and cows, were better tasting and better for you.
The biggest player in the industry, Beyond Meat, released its third-quarter numbers in November of 2023, and they taste worse than ersatz ground beef. Net revenue slid, declining 8.7% year-over-year and 26% versus the previous quarter.
It wasn’t all bad news, however, as the company actually achieved free cash flow for the quarter but does not expect that to be the case in the fourth quarter. One anaIyst at the firm TD Cowen took it a step further and said the firm is in ‘survival mode’ and will need to tap the financial markets in 2024 to maintain operations.
Beyond Meat CEO Ethan Brown said: We anticipated a modest return to growth in the third quarter of 2023 that did not occur. Though we are encouraged by pockets of growth, particulariy in the EU where we saw double digit gains in net revenues on a year-over-year basis, we are disappointed by our overall results as we continue to experience worsening sector-specific and broader consumer headwinds. Beyond Meat has cited numerous reasons for its poor performance, inciuding declining foodservice sales and flagging American retail sales, but declined to suggest the possibility that the product just isn’t that good.
HE IS 83, SHE IS 29 HOW COME? THE PAPARAZZI PHOTOS OF PACINO’S GIRLFRIEND CAUSED A STIR
Paparazzi accidentally caught Pacino on a romantic date with his new young lover, This legendary actor has recently been caught by paparazzi for the first time after the big news of his son’s arrival. The senior grandpa was spending time with his youthful girlfriend.
The non-standard couple was captured while being on a date after dining at a restaurant. The fans clearly noticed that their favorite idol worked hard to look young and active for the sake of his youthful partner.
Like a grandfather with his granddaughter!, What did she find in him?, I refuse to believe my eyes! Is this a dream?.
No matter what, he stays the best actor of all time, I have serious doubts about the sincerity of this girl’s feelings
I could never understand such a bond!, Tell me it’s a joke!, You’re not aged, you’re simply broke
How long did I sleep? How much he has aged!, You won’t see anything more ridiculous than this today!\
What do you think?
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