Wow, no cow! (or profits).

November 15, 2022

The board of Tyson Foods has launched a review into the drunken behaviour of the company’s new CFO John R. Tyson. Luckily for little John, his father big John is the chair of that board. It reminds me of the time my dad had to pick me up from a party after I drank too much and vomited. My dad was forced to launch a similar review with the outcome being that I was grounded for two weeks. Hopefully, little John has a good working-from-home setup.

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Credit: Oatly

Plant-based pain for investors

As a changing climate – from inflation and rising interest rates, to the covid supply chain impact and production challenges – continues to hit food producers, those hoping diary-based alternatives would help fight climate change may be rethinking buying from the likes of Oatly.

As the company struggles to sell a carton of oat-based dairy alternative for $6.49, it joins the likes of plant-based meat producer Beyond Meat, in posting less-than-appetizing results. Both companies are listed on the Nasdaq.

Oatly shares tumbled yesterday as it announced a larger-than-expected loss of $108 million. It has also been forced to lower its full-year revenue forecast from $800-$830 million to $700-$720 million. Oatly also announced that it will make job cuts ($) in an effort to trim the loss. Beyond Meat is faring no better. Last month, it also announced it would cut 19% of its workforce after sharply reducing its revenue forecast. 

Another reason for the decline of these two alternative protein companies is that, while they may have held a first-mover advantage, there are now many alternative alternatives.

Oatly and Beyond Meat share price returns over the last year. Credit: Google Finance.

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