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

Local Bounti

13/08/2024 14:11

* Local Bounti Corp  LOCL.N  reported a quarterly adjusted
loss of
$3.00​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of
$-1.35.  The mean expectation of two analysts for the quarter
was for a loss of $2.32 per share. Wall Street expected
results to range from $-3.19 to $-1.45 per share.
    * Revenue rose 31.5% to $9.44 million from a year ago;
analysts
expected $11.15 million. 
    * Local Bounti Corp's reported EPS for the quarter was a
loss of
$3.00​.
    * The company reported a quarterly loss of $25.27 million.
    * Local Bounti Corp shares had fallen by 3.2% this
quarter and
gained 30.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 August 13 at
01:10 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
 Jun. 30 2024      -2.32          -3.00          Missed
 Mar. 31 2024      -2.14          -2.89          Missed
 Dec. 31 2023      -2.41          -8.10          Missed
 Sep. 30 2023      -2.84          -3.02          Missed