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Investing.com - Mizuho has cut its price target on Beyond Meat Inc. (NASDAQ:BYND) to $1.00 from $1.50 while maintaining an Underperform rating on the plant-based meat company. The stock, currently trading at $1.11, has suffered a dramatic 78.8% decline over the past year according to InvestingPro data.
The downward revision follows Beyond Meat’s third-quarter results, which aligned with the company’s October 24 pre-announcement but included fourth-quarter revenue guidance below consensus expectations, indicating a larger year-over-year decline than in Q3. InvestingPro data shows the company’s revenue has already contracted by 10.2% over the last twelve months, with analysts projecting a further 13% decline for fiscal year 2025.
Beyond Meat recorded a significant $77 million impairment charge, reflecting diminished expectations for its long-term performance as the company faces ongoing pressure in its foodservice segment while retail demand remains soft. This contributes to the company’s concerning EBITDA of -$130.5 million for the last twelve months.
The company’s financial position shows continued challenges with a $42 million cash burn in Q3, despite recent financing efforts that have improved short-term liquidity and addressed concerns regarding its 2027 convertible notes. InvestingPro highlights two critical challenges: the company is quickly burning through cash with negative free cash flow of $142.9 million, while operating with a significant debt burden of $1.31 billion.
Mizuho maintained its adjusted EBITDA forecast for fiscal year 2025 at negative $113 million but reduced its fiscal year 2026 projection to negative $61 million from negative $56 million, noting that U.S. demand for animal meat is at multi-decade highs while pricing from plant-based competitors becomes more competitive. The company’s overall financial health score is rated as WEAK by InvestingPro, which offers a comprehensive Pro Research Report with detailed analysis on Beyond Meat and 1,400+ other US equities, providing clear, actionable intelligence for smarter investing decisions.
In other recent news, Beyond Meat Inc . reported its financial results for the third quarter of 2025. The company experienced a challenging period, with earnings per share (EPS) coming in at -$0.47, which was below the analysts’ forecast of -$0.43. However, Beyond Meat did manage to slightly exceed revenue expectations, reporting $70.2 million compared to the projected $68.64 million. Despite this revenue beat, the company continues to navigate a difficult market environment characterized by declining demand and increased competition. These developments highlight the ongoing challenges faced by Beyond Meat in maintaining its market position.
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