HelloFresh Stock Plummets 42% Following Bleak Outlook Warning
HelloFresh shares plummeted 42% after the company issued a disappointing earnings outlook for 2024, with analysts expressing concern over elevated customer acquisition costs and the removal of previously announced targets for 2025. The Berlin-based firm expects adjusted EBITDA to decrease in 2023 and 2024 due to increased production capacity and marketing expenses, despite a forecast for higher revenue from the North American market. The company's annual results are set to be released on March 15.