Local Bounti Third Quarter 2023 Earnings: Misses Expectations

Simply Wall St

November 17, 2023

Local Bounti (NYSE:LOCL) Third Quarter 2023 Results

Key Financial Results

Revenue: US$6.81m (up 8.4% from 3Q 2022).
Net loss: US$24.3m (loss narrowed by 11% from 3Q 2022).
US$3.03 loss per share (improved from US$3.95 loss in 3Q 2022).

earnings-and-revenue-growth — NYSE:LOCL Earnings and Revenue Growth November 17th 2023

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 17%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Food industry in the US.

Performance of the American Food industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 5 warning signs for Local Bounti (of which 2 shouldn't be ignored!) you should know about.

If you're looking to trade Local Bounti, open an account with the lowest-cost platform trusted by professionals, Interactive Brokers.

With clients in over 200 countries and territories, and access to 160 markets, IBKR lets you trade stocks, options, futures, forex, bonds and funds from a single integrated account.

Enjoy no hidden fees, no account minimums, and FX conversion rates as low as 0.03%, far better than what most brokers offer.

New: AI Stock Screener & Alerts

Our new AI Stock Screener scans the market every day to uncover opportunities.

• Dividend Powerhouses (3%+ Yield)
• Undervalued Small Caps with Insider Buying
• High growth Tech and AI Companies

Or build your own from over 50 metrics.

Explore Now for Free

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.