Local Bounti Corp reports results for the quarter ended in December - Earnings Summary

Local Bounti

27/03/2024 13:32

* Local Bounti Corp  LOCL.N  reported a quarterly adjusted
loss of
$8.10​​ per share for the quarter ended in December, lower than
the same quarter last year, when the company reported EPS of
$-3.90.  The mean expectation of two analysts for the quarter
was for a loss of $2.41 per share. Wall Street expected
results to range from $-3.18 to $-1.65 per share.
    * Revenue rose 3.4% to $6.87 million from a year ago;
analysts
expected $8.70 million. 
    * Local Bounti Corp's reported EPS for the quarter was a
loss of
$8.10​.
    * The company reported a quarterly loss of $65.55 million.
    * Local Bounti Corp shares had risen by 38.7% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 2 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the fishing &
farming
peer group is  "buy."

Wall Street's median 12-month price target for Local Bounti Corp
is $8.00 
This summary was machine generated from LSEG data March 27 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -2.41          -8.10          Missed
 Sep. 30 2023      -2.84          -3.02          Missed
 Jun. 30 2023      -2.71          -1.35          Beat
 Mar. 31 2023      -3.18          -2.99          Beat