Beyond Meat Inc. reported fourth-quarter sales that surpassed expectations, with revenue of $73.7 million beating the average analyst estimate of $66.8 million compiled by Bloomberg.
Sales in both the US and international channels also beat expectations.
Beyond Meat Inc. reported fourth-quarter sales that surpassed expectations, with revenue of $73.7 million beating the average analyst estimate of $66.8 million compiled by Bloomberg.
Sales in both the US and international channels also beat expectations.
even though Beyond Meat's stock price has been volatile in recent years, it is a promising company that offers plant-based meat alternatives to consumers who are looking for healthier options.
Beyond Meat's stock surges after CEO promises to steeply cut costs in 2024
The company reported a 7.8% decrease in year-over-year net revenues to $73.7 million, beating Wall Street's expectations for the quarter
Beyond Meat will cut at least $70 million from its operating budget in 2024 as part of cost-cutting measures
The company plans to discontinue its Beyond Meat jerky line and tighten focus on other products with higher profitable growth potential
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive in several ways. Firstly, the title of the article suggests that Beyond Meat's stock has surged after CEO promises to steeply cut costs in 2024. However, this statement is misleading as it implies that Beyond Meat's stock price increase was solely due to Ethan Brown's announcement about cost-cutting measures. In reality, the company had already been struggling with falling demand and ballooning costs for years before Brown made his announcement.
The title of the article is misleading as it implies that Beyond Meat's stock price increase was solely due to Ethan Brown's announcement about cost-cutting measures. In reality, the company had already been struggling with falling demand and ballooning costs for years before Brown made his announcement.
Beyond Meat did not specify whether it may conduct layoffs as part of its cost-cutting measures.
Fallacies
(85%)
The article contains several fallacies. The first is an appeal to authority when Beyond Meat CEO Ethan Brown says that the company's plant-based alternative meat has health benefits. This statement assumes that because a person in a position of power or authority claims something, it must be true without any evidence to support it.
Bias
(85%)
The article contains several examples of bias. The author uses language that dehumanizes the company's products by referring to them as 'plant-based meat', which implies they are not real meat and therefore inferior. Additionally, the author quotes Beyond Meat CEO Ethan Brown saying that their jerky line will be discontinued because it has lower profitable growth potential, implying that profit is more important than quality or health benefits. The article also mentions criticism of Beyond Meat's products for relatively high prices and the company's plans to roll out a new product with superior health benefits in 2024.
Beyond Meat CEO Ethan Brown says their jerky line will be discontinued because it has lower profitable growth potential
The article mentions criticism of Beyond Meat's products for relatively high prices and the company's plans to roll out a new product with superior health benefits in 2024
The author uses language that dehumanizes the company's products by referring to them as 'plant-based meat'
Site
Conflicts
Of
Interest (50%)
Samantha Delouya has a conflict of interest with Beyond Meat as she is an employee of Yum! Brands which competes with Beyond Meat in the plant-based meat industry.
Author
Conflicts
Of
Interest (50%)
Samantha Delouya has a conflict of interest on the topic of Beyond Meat as she is an employee of Yum! Brands which competes with Beyond Meat in the plant-based meat industry.
The company reported fourth-quarter sales that surpassed expectations.
ɻeyond Meat➾arth the revenue of $73.7 million was above the average analyst estimate of $66.8 million compiled by Bloomberg.
ɻSales in both the US and international channels beat expectations.
Accuracy
The company reported a 7.8% decrease in year-over-year net revenues to $73.7 million, beating Wall Street's expectations for the quarter
Beyond Meat will cut at least $70 million from its operating budget in 2024 as part of cost-cutting measures
Deception
(50%)
The article is deceptive in several ways. Firstly, the title claims that Beyond Meat's sales surpassed expectations by $7 million when in fact they were only $6.9 million above the average analyst estimate of $66.8 million compiled by Bloomberg.
The article states 'Beyond Meat Inc. surged as much as 106% in late trading after it reported fourth-quarter sales that surpassed expectations.' However, this is not accurate as the company's revenue was only $73.7 million which is $2.3 million below the average analyst estimate of $75 million.
The article states 'Sales in both the US and international channels beat expectations.' This statement is also misleading as sales in both channels were only 1% above their respective estimates.
Fallacies
(85%)
The article contains an appeal to authority fallacy. The author cites Beyond Meat's revenue as evidence of the company's success without providing any context or analysis on how this revenue was achieved.
> Revenue of $73.7 million was above the average analyst estimate of $66.8 million compiled by Bloomberg.
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (50%)
Deena Shanker has a conflict of interest with Beyond Meat Inc. as she is reporting on the company's fourth-quarter sales and financial performance.
Author
Conflicts
Of
Interest (50%)
Deena Shanker has a conflict of interest on the topic of Beyond Meat Inc. as she is reporting for Bloomberg which owns a stake in the company.
Urban Outfitters (URBN) shares fall in after-hours trading after missing fourth-quarter earnings estimates on the bottom line.
Beyond Meat's stock surges after CEO promises to steeply cut costs in 2024
> The company reported fourth-quarter sales that surpassed expectations.
> Beyond IV, a new version of its product that claims superior health benefits and taste
Accuracy
> Beyond IV in 2024, a new version of its product that claims superior health benefits and taste
Deception
(30%)
The article contains several examples of deceptive practices. Firstly, the author misrepresents the results for Urban Outfitters by stating that it missed estimates on both top and bottom line when in fact it only missed estimates on revenue. Secondly, Bumble is stated as missing revenue estimates but not mentioned if they beat any other metrics such as user growth or profitability. Lastly, Beyond Meat's full-year revenue outlook was within analyst projections which implies that the company did not miss expectations.
Urban Outfitters missed fourth quarter earnings estimates on the bottom line but only missed revenue estimates.
Fallacies
(75%)
The article contains several fallacies. The author uses an appeal to authority when stating that Beyond Meat's CEO Richard Hayne told investors about the company's sales growth in the first quarter. This is not a reliable source of information and should be taken with a grain of salt.
Urban Outfitters stock down 6% on its fourth quarter results.
Bias
(85%)
The article contains examples of monetary bias and religious bias. The author uses language that depicts Beyond Meat as being successful despite its earnings loss being wider than expected due to high interest rates, inflation, and weakening demand in the plant-based meat category. This is an example of a positive spin on negative news which could be seen as monetary bias.
Beyond Meat shares are up 91%, getting a boost after its fourth quarter revenue surprise to the upside, this even though the earnings loss was wider than analysts expected. The company's full-year revenue outlook was within analyst projections, though Beyond Meat did caution of ongoing pressure from high interest rates, inflation, and weakening demand in the plant based meat category.
Site
Conflicts
Of
Interest (50%)
Julie Hyman has conflicts of interest on the topics of Urban Outfitters, Bumble and Beyond Meat.
Author
Conflicts
Of
Interest (50%)
Julie Hyman has conflicts of interest on the topics of Urban Outfitters, Bumble and Beyond Meat.
