Beyond Meat Falls 16% After Pushing Back Earnings to Review Big Write-Down

Beyond Meat is once again keeping investors waiting. The company announced Monday that it’s delaying its third-quarter earnings report, saying it needs additional time to finish calculating a “material non-cash impairment charge.” In plain English, that means Beyond has to admit that some of its factories, equipment, or inventory aren’t worth what it thought they were.

The company now plans to release results after markets close on November 11, and investors didn’t take the delay well. Shares of Beyond Meat dropped more than 16% to $1.38, giving back what was left of the stock’s short-lived comeback last month.

For a brief moment in October, Beyond looked like it had life again. After being added to the Roundhill Meme Stock ETF, retail traders on Reddit and Robinhood piled in, hoping to squeeze short sellers. The stock shot up from under $2 to nearly $8 in a matter of days. But as fast as the rally started, it fizzled. Once the meme-stock crowd moved on, Beyond fell back to earth… and then kept falling.

It’s been a long decline for a company that once promised to revolutionize how the world eats. When Beyond Meat went public in 2019, investors couldn’t get enough of the story: a plant-based food company taking on Big Beef. Its shares surged more than 800% in just a few months, and at one point, Beyond’s market value topped $15 billion.

Fast forward five years, and that same company is now worth less than $100 million. Demand for plant-based meat has slowed dramatically, as consumers balked at higher prices and turned back to traditional meat. Beyond has been cutting costs, shrinking its workforce, and pulling back from new product launches in an effort to preserve cash.

The company hasn’t said how big the impairment charge will be, only that it’s “material.” Analysts say it likely relates to idle or underused production facilities and aging inventory… a consequence of ramping up too aggressively when demand looked unstoppable.

“When companies delay earnings to finalize an impairment charge, it usually means they’re still trying to figure out how bad the damage is,” said one analyst following the stock. “It’s rarely a good sign.”

Beyond’s decision to delay comes at a critical moment. The company is still struggling to reach consistent profitability, even after several rounds of restructuring. And while it’s trimmed expenses, its sales growth has stalled.

Management will host an investor call on Nov. 11 at 5 p.m. ET, where they’re expected to explain the impairment, discuss the company’s cash position, and outline next steps. Investors will be listening for any sign of a turnaround plan… or at least a path to stabilization.

At the time of publishing this article, Stocks.News holds positions in Robinhood as mentioned in the article.