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Local Bounti Corporation (LOCL)
NYSE:LOCL
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$2.87Last Year’s EPS
-$8.1Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: -13.14%
|Next Earnings Date:Mar 26, 2025
Earnings Call Sentiment|Neutral
The call highlighted significant sales growth and improvements in gross margin, alongside strategic expansions and strengthening commercial relationships. However, these positives were tempered by shortfalls in expected sales and revenue contributions from new facilities, alongside increased R&D expenses. The company is focused on strategic realignment to optimize future growth and profitability.Company Guidance
During Local Bounti's Q3 2024 earnings call, CEO Craig Hurlbert and CFO Kathleen Valiasek provided detailed guidance on the company's strategic initiatives and financial performance. The company reported a 50% year-over-year increase in sales, reaching $10.2 million, although this was below expectations due to strategic reconfigurations in their product offerings. They are focusing on high-demand specialty products like Arugula and Spinach, which will shift their timeline for achieving positive adjusted EBITDA to Q2 2025. Adjusted gross margins improved to 32%, reflecting operational efficiencies and product optimization efforts. The company continues to expand its commercial relationships, now shipping to over 180 Brookshire Grocery locations and fulfilling agreements with Sam's Club. For Q4 2024, Local Bounti expects revenues of approximately $11 million, driven by increased production at its Washington and Texas facilities and the introduction of new products. The company remains focused on aligning capacity with customer demand, optimizing its capital structure, and is actively engaged with multiple financing partners to support its strategic goals.Significant Sales Growth
Local Bounti delivered sales of $10.2 million in Q3 2024, marking an increase of approximately 50% year-over-year.
Adjusted Gross Margin Improvement
Adjusted gross margin reached 32% in the third quarter, reflecting a 300 basis point sequential improvement from the second quarter.
Expansion of Product Portfolio
The introduction of high-velocity products like Arugula and Spinach has generated significant customer interest, contributing to the company's strategy to drive growth and improve unit economics.
Strengthening Commercial Relationships
Local Bounti is expanding its presence with key retailers like Sam's Club, Brookshire Grocery Company, and H-E-B, enhancing its market position.
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LOCL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LOCL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $2.34 | $2.33 | -0.43% |
| Aug 13, 2024 | $2.70 | $2.93 | +8.52% |
| May 09, 2024 | $2.96 | $2.95 | -0.34% |
| Mar 27, 2024 | $2.87 | $2.92 | +1.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Local Bounti Corporation (LOCL) report earnings?
Local Bounti Corporation (LOCL) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Local Bounti Corporation (LOCL) earnings time?
Local Bounti Corporation (LOCL) earnings time is at Mar 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LOCL EPS forecast?
LOCL EPS forecast for the fiscal quarter 2024 (Q4) is -$2.87.
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