Beyond Meat Sees FY23 Revenue $360M-$380M Vs $388.04M Est
Portfolio Pulse from Benzinga Newsdesk
Beyond Meat expects FY23 revenues to be between $360M-$380M, lower than the estimated $388.04M. This represents a decrease of 9%-14% compared to 2022. The company also anticipates operating expenses to be $245M or less and capital expenditures to be between $20M-$25M. Despite previously aiming for cash flow positive operations in the second half of 2023, the company now believes this is unlikely due to greater than expected consumer and category headwinds.
August 07, 2023 | 8:09 pm
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NEGATIVE IMPACT
Beyond Meat's lower than expected FY23 revenue forecast and the unlikely achievement of cash flow positive operations in H2 2023 could negatively impact the company's stock in the short term.
Beyond Meat's lower than expected revenue forecast for FY23 indicates potential challenges in its business operations. The delay in achieving cash flow positive operations also suggests financial difficulties, which could negatively impact investor sentiment and lead to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100