Local Bounti Corp reports results for the quarter ended September 30 - Earnings Summary

Local Bounti

14/11/2024 20:58

* Local Bounti Corp  LOCL.N  reported a quarterly adjusted
loss of
$3.98​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of
$-3.02.  The mean expectation of two analysts for the quarter
was for a loss of $2.13 per share. Wall Street expected
results to range from $-2.78 to $-1.48 per share.
    * Revenue rose 50.4% to $10.24 million from a year ago;
analysts
expected $12.75 million. 
    * Local Bounti Corp's reported EPS for the quarter was a
loss of
$4.01​.
    * The company reported a quarterly loss of $34.33 million.
    * Local Bounti Corp shares had fallen by 6.5% this
quarter and
gained 12.9% 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 November 14 at
08:58 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
 Sep. 30 2024      -2.13          -3.98          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