Local Bounti Corp

Local Bounti Corp. operates as an advanced indoor growing facility. It is a premier Controlled Environment Agriculture (CEA) company redefining conversion efficiency and environmental, social and governance standards for indoor agriculture. The company was founded by Travis Joyner and Craig M. Hurlbert in August 2018 and is headquartered in Hamilton, MT.

Earnings data Q1 2024

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HAMILTON, Mont., April 5, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that on April 3, 2024, it received a notice (the "Notice") from the New York Stock Exchange (the "NYSE") that it is not in compliance with the NYSE continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual (the "Minimum Market Capitalization Standard") due to the fact that the Company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders' equity was less than $50 million.

Local Bounti Receives Continued Listing Standard Notice from NYSE

Local Bounti Corporation (LOCL) Q4 2023 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $8.10 per share versus the Zacks Consensus Estimate of a loss of $3.18. This compares to loss of $3.90 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q4 Loss, Lags Revenue Estimates

Georgia facility demonstrating further improvement year-to-date — packed pounds increased 50% versus December 2023 and 3x versus a year ago Commenced operations at Washington and Texas facilities in January, expect to begin shipping product to customers in the second quarter 2024 Expected to close on $228 million of financing commitments in the second quarter to support 2024 projects — including additional capacity at existing facilities and building of a new greenfield facility in the Midwest Announces national expansion of Grab-and-Go Salad Kits Montana facility to transition from R&D to commercial production mid-year to support increased customer demand and revenue and EBITDA goals Received patent for proprietary Stack & Flow Technology® Preliminary first quarter 2024 revenue grew 22% sequentially to approximately $8.4 million HAMILTON, Mont. , March 27, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced its financial results for the three and twelve months ended December 31, 2023 and provided preliminary first quarter 2024 sales results.

Local Bounti Announces Full Year 2023 Financial Results

HAMILTON, Mont., March 26, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced it will release its financial results for the fiscal full year ended December 31, 2023 before the market opens on Wednesday, March 27, 2024.

Local Bounti to Release Full Year 2023 Financial Results on Wednesday, March 27, 2024

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HAMILTON, Mont. , Feb. 21, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that the United States Patent and Trademark Office issued a patent to the Company on February 13, 2024 for its proprietary Stack & Flow Technology.

Local Bounti Receives Patent for Stack & Flow Technology®

Company receives $15 million in cash from Cargill as part of amended credit facility New facilities begin to ramp  ̶  Washington seeded and Texas expected to commence seeding by end of January 2024  ̶  provides capacity for new product introductions to support long-term revenue diversification and expansion HAMILTON, Mont. , Jan. 24, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has secured additional cash to fund working capital as part of its amended credit facility with Cargill Financial Services International, Inc. ("Cargill").

Local Bounti Amends Cargill Credit Facility and Receives Funds for Working Capital

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Board of Directors Re-Appoints Co-Founder Craig Hurlbert as Chief Executive Officer Georgia Facility Doubled Run-rate Production in December Provides Update to Full Year 2023 Sales Expectation HAMILTON, Mont. , Dec. 15, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced a leadership transition and a business update.

Local Bounti Announces Leadership Transition and Provides Business Update

Local Bounti Corporation (LOCL) came out with a quarterly loss of $3.02 per share versus the Zacks Consensus Estimate of a loss of $3.25. This compares to loss of $3.90 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q3 Loss, Lags Revenue Estimates

Stack integration at Georgia facility complete, commenced operations in October 2023 Construction at Texas and Washington facilities remains on track Receives incremental financing commitments for working capital and future 2024 projects HAMILTON, Mont. , Oct. 30, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended September 30, 2023.

Local Bounti Announces Third Quarter 2023 Financial Results

HAMILTON, Mont., Oct. 30, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced it will release its financial results for the third quarter ended September 30, 2023 after the market closes on Monday, October 30, 2023.

Local Bounti to Release Third Quarter 2023 Financial Results on Monday, October 30, 2023

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the warrants of Local Bounti Corporation (the “Company”), thirteen exercisable for one share of common stock for $149.50 per share (the “Warrants”) — ticker symbol LOCL WS — from the NYSE. Trading in the Company's Warrants will be suspended immediately. Trading in the Company's common stock — ticker symbol LOCL — will.

NYSE to Commence Delisting Proceedings with Respect to the Warrants of Local Bounti Corporation (LOCL WS)

Local Bounti Corporation (NYSE:LOCL ) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Jeff Sonnek - SVP, ICR Anna Fabrega - CEO Kathleen Valiasek - CFO Conference Call Participants Kristen Owen - Oppenheimer Ben Klieve - Lake Street Capital Markets Brian Wright - ROTH MKM Operator Good morning, and welcome to the Local Bounti's Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q2 2023 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $1.35 per share versus the Zacks Consensus Estimate of a loss of $3.07. This compares to loss of $4.68 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q2 Loss, Tops Revenue Estimates

Construction on track at Georgia, Texas and Washington facilities Reaffirms full year 2023 guidance of $34 to $40 million   HAMILTON, Mont. , Aug. 9, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended June 30, 2023 and reaffirmed full year 2023 guidance.

Local Bounti Announces Second Quarter 2023 Financial Results

HAMILTON, Mont. , July 26, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced it will release its financial results for the second quarter ended June 30, 2023 before the market opens on Wednesday, August 9, 2023.

Local Bounti to Release Second Quarter 2023 Financial Results on Wednesday, August 9, 2023

Artisanal Chicken Caesar and Memphis Style BBQ Chicken Salad Kits to be available at select grocery stores beginning in June  HAMILTON, Mont. , May 31, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today the expansion of its Grab & Go Salad Kit line to include premium, antibiotic-free white meat chicken in two new recipes, marking a category innovation for the controlled environment agriculture industry.

Local Bounti Becomes First Indoor Grower to Offer Salads with Chicken in Expansion of Popular Grab & Go Salad Kit Lineup

Fabrega brings deep commercial and retail experience as former Freshly CEO and Amazon commerce executive Current Co-CEOs Craig Hurlbert and Travis Joyner to remain with the Company in leadership roles HAMILTON, Mont. , May 25, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, announced that Anna Fabrega, former Freshly CEO and Amazon executive, will become CEO of Local Bounti on June 5, 2023.

Local Bounti Announces Executive Transition, Names Anna Fabrega as CEO as Company Scales Sustainable Growing Technologies

Local Bounti Corporation (NYSE:LOCL ) Q1 2023 Earnings Conference Call May 10, 2023 8:00 AM ET Company Participants Jeff Sonnek - SVP, ICR Craig Hurlbert - Co-Founder, Co-CEO & Chairman Travis Joyner - Co-CEO & Director Brian Cook - President Kathleen Valiasek - CFO Conference Call Participants Colin Rusch - Oppenheimer Benjamin Klieve - Lake Street Capital Markets Chris Barnes - Deutsche Bank Brian Wright - ROTH MKM Operator Good morning, and welcome to the Local Bounti's First Quarter 2023 Earnings Conference Call. [Operator Instructions].

Local Bounti Corporation (LOCL) Q1 2023 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.32 per share a year ago.

Local Bounti Corporation (LOCL) Reports Q1 Loss, Tops Revenue Estimates

Reaffirms full year 2023 guidance of $34 to $40 million HAMILTON, Mont. , May 10, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced its financial results for the three months ended March 31, 2023 and reaffirmed full year 2023 guidance.

Local Bounti Announces First Quarter 2023 Financial Results

Sale-leaseback of its two California facilities provides financing to support the Company's growth plans HAMILTON, Mont. , May 3, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that it has completed its sale-leaseback transaction with an internally managed net-lease real estate investment trust, for approximately $35 million.

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