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

Local Bounti

09/08/2023 14:32

* Local Bounti Corp  LOCL.N  reported quarterly adjusted
earnings
of 50 cents​​ per share for the quarter ended in June. The mean
expectation of four analysts for the quarter was for a loss of
$2.71 per share.
    * Revenue rose 14.6% to $7.18 million from a year ago;
analysts
expected $6.94 million. 
    * Local Bounti Corp's reported EPS for the quarter was a
loss of
$1.35​.
    * The mean earnings estimate of analysts had fallen by
about 8.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company. 
    * Local Bounti Corp shares had risen by 60.3% this
quarter and
lost 75.9% so far this year.
    * The company reported a quarterly loss of $10.68 million.
    * Wall Street's median 12-month price target for Local
Bounti Corp
is $26.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
August 9 at 01:32 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      -2.71          0.50           Beat
 Mar. 31 2023      -3.18          -2.99          Beat
 Dec. 31 2022      -3.30          -3.90          Missed
 Sep. 30 2022      -3.46          -3.90          Missed