Local Bounti Full Year 2023 Earnings: Misses Expectations

Local Bounti Corporation Common Stock +14.83%

Local Bounti Corporation Common Stock

LOCL

3.02

+14.83%

Local Bounti (NYSE:LOCL) Full Year 2023 Results

Key Financial Results

  • Revenue: US$27.6m (up 42% from FY 2022).
  • Net loss: US$124.0m (loss widened by 12% from FY 2022).
  • US$15.61 loss per share.
earnings-and-revenue-growth
NYSE:LOCL Earnings and Revenue Growth March 29th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Local Bounti Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 63%.

Looking ahead, revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Food industry in the US.

Performance of the American Food industry.

The company's shares are up 12% from a week ago.

Risk Analysis

Before you take the next step you should know about the 4 warning signs for Local Bounti (1 is concerning!) that we have uncovered.

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