Local Bounti (LOCL) Scheduled to Post Quarterly Earnings on Thursday

Local Bounti (NYSE:LOCL) is set to issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($2.76) per share for the quarter. Local Bounti has set its Q1 2024 guidance at EPS.

Local Bounti (NYSE:LOCL) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($8.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.18) by ($4.92). The business had revenue of $6.87 million during the quarter, compared to the consensus estimate of $7.40 million. Local Bounti had a negative net margin of 450.03% and a negative return on equity of 167.86%. On average, analysts expect Local Bounti to post $-10 EPS for the current fiscal year and $-6 EPS for the next fiscal year.

Local Bounti Stock Performance

LOCL traded down $0.25 on Tuesday, hitting $2.80. The company’s stock had a trading volume of 10,274 shares, compared to its average volume of 13,444. The company’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $2.58. Local Bounti has a 12 month low of $1.17 and a 12 month high of $6.89. The firm has a market cap of $23.63 million, a P/E ratio of -0.18 and a beta of 2.57. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 18.20.

About Local Bounti

Local Bounti Corporation grows and packs fresh greens in the United States. It produces lettuce, herbs, and loose-leaf lettuce. The company sells its products to food retailers and food service distributors. Local Bounti Corporation was founded in 2018 and is headquartered in Hamilton, Montana.