Local Bounti Full Year 2023 Earnings: Misses Expectations
Local Bounti Corporation Common Stock LOCL | 2.03 | +15.34% |
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.
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.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
