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Investing.com -- Beyond Meat, Inc. (NASDAQ:BYND) reported third-quarter earnings that missed analyst expectations and provided revenue guidance for the upcoming quarter that fell short of Wall Street estimates, sending shares down 8% in trading.
The plant-based meat producer posted a third-quarter adjusted loss of $0.47 per share, $0.04 worse than analysts’ expectations of a $0.43 loss. Revenue came in at $70.2 million, slightly above the consensus estimate of $68.64 million, but representing a 13.3% decline YoY. For the fourth quarter, Beyond Meat expects revenue between $60 million and $65 million, below analyst expectations of $70.33 million.
Beyond Meat President and CEO Ethan Brown acknowledged ongoing challenges but highlighted progress in the company’s transformation efforts. "Though category headwinds and an accompanying softer top-line continue to weigh on and reverberate throughout our current performance, including our Q3 results, we are closing out the year with a much improved balance sheet," Brown said.
The company’s U.S. retail channel saw the steepest decline, with revenues falling 18.4% to $28.5 million compared to the year-ago period. U.S. foodservice channel revenues dropped 27.3% to $10.5 million. International retail channel revenues decreased 4.6% to $15.8 million, while international foodservice channel revenues showed a modest 2.3% increase to $15.3 million.
Gross margin deteriorated to 10.3%, down from 17.7% in the same quarter last year. The company’s operating loss widened significantly to $112.3 million, compared to $30.9 million in the year-ago period, largely due to $77.4 million in non-cash impairment charges related to certain long-lived assets.
Beyond Meat reported having $131.1 million in cash and cash equivalents, including restricted cash, with total outstanding debt of $1.2 billion as of September 27, 2025. The company recently completed an exchange offer for its 2027 convertible notes and raised approximately $148.7 million through its at-the-market offering program.
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