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.
Old Man Helps Single Mom Fix Baby Stroller, Next Day Sees Private Jet Landing For Him
This heartwarming story captures the beautiful theme of unexpected connections and the profound impact of simple acts of kindness. Joseph Benjamin, a seemingly ordinary man, finds his life transformed after helping April, a struggling single mother. The narrative effectively highlights how one small gesture can lead to life-altering experiences.
Joe’s routine life reflects the stability and simplicity that often accompanies aging, yet his encounter with April opens the door to adventure and companionship he never anticipated. The story skillfully contrasts his mundane existence with the excitement of flying in a private jet to the beach, demonstrating that life can still hold surprises at any age.
April’s character adds depth to the narrative; she is not only grateful for Joe’s help but also recognizes his kindness and values. Her invitation for him to join her on a trip symbolizes the importance of community and connection, especially for those who may feel lonely or isolated.
The story concludes with an uplifting message about the power of kindness and how it can enrich our lives in unexpected ways. It serves as a reminder that our actions, no matter how small, can resonate deeply and create meaningful relationships. Would you like to explore more stories like this, or is there something specific you’d like to discuss?
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