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Beyond Meat Postpones Q3 Earnings as It Reviews Asset Impairment
Beyond Meat has delayed the release of its third-quarter financial results to finalize an impairment analysis linked to certain long-lived assets, as the company continues to face financial and operational challenges.
Delay to Earnings Release
Beyond Meat has postponed its third-quarter earnings announcement, originally scheduled for 4 November, to 11 November. The California-based alternative protein company said it needs additional time to complete an impairment assessment tied to some of its long-lived assets.
Reason for the Delay
In a 24 October filing with the US Securities and Exchange Commission (SEC), Beyond Meat disclosed that the impairment charge is expected to be “material.” The company explained that it is “not yet able to reasonably quantify the amount” and requires more time, resources, and effort to finalize its evaluation.
Market Reaction
The news prompted a sharp decline in Beyond Meat’s share price, which fell 16% on Monday to close at $1.39 on Nasdaq. The stock has dropped around 63% so far in 2025 and briefly dipped below $1.00 in October, a level that could threaten its compliance with Nasdaq’s listing requirements if sustained.
Preliminary Financial Results
Beyond Meat’s preliminary figures point to third-quarter revenue of about $70 million, consistent with earlier guidance of $68–73 million but down from $81 million a year earlier. The company expects a gross margin of roughly 10–11%, compared with 17.7% in the same quarter of 2024.
Ongoing Financial Challenges
The company has not reported a net profit since its 2019 IPO and continues to face pressure from declining sales and profitability. Earlier this year, Beyond Meat announced job cuts, a withdrawal from the Chinese market, and a $100 million financing package from Unprocessed Foods, a unit of the non-profit Ahimsa Foundation, which holds an option to take a minority stake in the business.
Turnaround Efforts and Leadership Support
In August, Beyond Meat hired John Boken from consultancy AlixPartners as an external advisor to assist with restructuring efforts. Boken brings experience in corporate turnarounds and financial recovery strategies.
Outlook Ahead
Sales volumes have dropped across all channels, particularly in US retail, and the company reported a first-half net loss of $82.2 million. The updated financial report, expected on 11 November, is anticipated to provide further insight into the scale of the impairment charge and Beyond Meat’s next steps in its ongoing recovery plan.
Source: https://www.just-food.com/news/beyond-meat-delays-q3-results/?cf-view