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.
I Married a Homeless Man Out of Spite Toward My Parents – A Month Later, I Returned Home and Was Stunned by What I Saw
What an incredible journey of unexpected love and second chances! Miley’s story shows how life’s wild turns can lead to the most meaningful relationships in the least expected ways. From a marriage of convenience intended to keep her independence, she finds herself entangled in a real connection with Stan, a man whose humility and kindness reveal hidden depths and struggles.
Stan’s backstory adds such a layer of intrigue, almost like a fairy tale with a modern twist. His decision to keep his wealth and challenges a secret until he could trust Miley speaks volumes about his character—and Miley’s genuine kindness shines through her offer, asking nothing in return. It’s heartwarming how they ultimately choose to support each other through what lies ahead, giving their relationship time to grow without rushing.
This is a beautiful reminder that sometimes, when we let down our guard, we open ourselves to authentic connections and a life richer than we ever imagined. Miley and Stan’s journey holds so much hope, showing that love, trust, and friendship can find their way through even the most surprising arrangements.
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