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“Beyond Meat Delays Earnings as It Confronts Harsh Reality of Its Own Valuations” 🚨🚨🚨

“You don’t want to see how the sausage is made” has long been a saying about messy processes — and it now seems to apply just as well to faux meat and faux meat accounting.

Beyond Meat (BYND $1.46, -12.08%) shares plunged after the company unexpectedly delayed its quarterly earnings release, admitting it needs more time to determine the full size of an upcoming asset write-down. The plant-based meat maker was originally set to report results Tuesday after the bell but now says investors will have to wait until November 11.

In a press release, Beyond Meat explained that management is still assessing the magnitude of a non-cash impairment charge tied to certain long-lived assets — essentially, its factories, equipment, and property — that are now worth less than the company once thought.

“Although the Company expects this charge to be material, the Company is not yet able to reasonably quantify the amount, and requires additional time, resources and effort to finalize its assessment,” the company said, referencing an earlier Form 8-K filed on October 24.

That filing revealed that an internal recoverability test showed the carrying value of some assets wasn’t supported by projected future cash flows. In simpler terms, those facilities aren’t expected to generate enough money to justify their current book value — so the company must mark them down.

This type of accounting adjustment doesn’t directly affect cash flow, but it signals deeper trouble: Beyond Meat’s business has struggled to regain its footing amid weak demand, shrinking margins, and growing competition from both traditional and alternative protein companies.

The company’s delayed earnings release adds to uncertainty surrounding its financial position, even as it hinted that not all the news will be bad — citing some “positive developments” on legal fronts in its preliminary Q3 remarks.

Still, the market’s reaction was swift and unforgiving. Investors appear more focused on the fact that Beyond Meat — once the poster child of the plant-based food revolution — is still trying to figure out just how much value has evaporated from its balance sheet.

Bottom line: Beyond Meat’s latest delay may buy time for its accountants, but it’s costing confidence with investors. As the company works through its write-downs, Wall Street is left wondering whether the brand can reclaim its once-sizzling momentum — or if the sizzle has permanently faded.