Shares of Beyond Meat (BYND) are underwater in Monday’s premarket trading after the company said it would delay the release of its third quarter results to quantify an impairment charge.
Third quarter results are now expected to be released after the close on November 11 instead of November 4.
The impairment charge is related to certain long-lived assets. And while the company expects this charge will be “material” to Q3 results, it cannot “reasonably quantify the amount, and requires additional time, resources and effort to finalize its assessment.”
As a result, shares are down nearly 9% ahead of Monday’s open.
