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 2022

Earnings data Q2 2022

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Earnings data Q4 2022

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Earnings data Q2 2023

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Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Local Bounti Corp reports robust Q1 growth and eyes revenue doubling

Local Bounti Corp's Q1 2024 performance reflects strong growth potential, with a focus on innovation, customer expansion, and revenue targets for the year.
While facing challenges in managing losses and securing financing, the company's strategic strengths in technology, facilities, and product offerings position it for future success.
Opportunities in new markets, product lines, and revenue growth present avenues for Local Bounti Corp to enhance its competitive position and financial performance.

Local Bounti Corp (LOCL) reports robust sales growth and cost efficiencies

Local Bounti Corp (LOCL) demonstrated strong sales growth and cost optimization efforts in Q2 2024, positioning itself for future profitability.
Expansion of distribution networks and product offerings signal market demand and growth potential for the company.
While challenges in achieving profitability persist, opportunities for growth through product expansion and operational efficiency improvements are evident.

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New distribution underscores Local Bounti's customer-centric approach and commercial momentum HAMILTON, Mont. , Dec. 16, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has received a two-year award from a large multinational retailer (the "Retailer") to supply Local Bounti's living butter lettuce product to 13 of the Retailer's distribution centers from Local Bounti's California and new Texas facilities.

Local Bounti Announces Multi-Year Award with Large Multinational Retailer

Local Bounti Corporation (NYSE:LOCL ) Q3 2024 Earnings Conference Call November 14, 2024 8:00 AM ET Company Participants Jeff Sonnek - Investor Relations, ICR Craig Hurlbert - Co-Founder and Chief Executive Officer Kathleen Valiasek - President and Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer & Co. Inc. Benjamin Klieve - Lake Street Capital Markets Operator Good morning, and welcome to Local Bounti's Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q3 2024 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $4.01 per share versus the Zacks Consensus Estimate of a loss of $2.78. This compares to loss of $3.02 per share a year ago.

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

Commercial momentum accelerating with expanded product assortment and increased growing capacity Increased scale driving strategic discussions with customers to align respective footprints for next chapter of growth HAMILTON, Mont. , Nov. 14, 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 quarter ended September 30, 2024 and provided expectations for fourth quarter 2024.

Local Bounti Announces Third Quarter 2024 Financial Results

HAMILTON, Mont., Nov. 11, 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 third quarter ended September 30, 2024 before the market opens on Thursday, November 14, 2024.

Local Bounti to Release Third Quarter 2024 Financial Results on Thursday, November 14, 2024

Local Bounti Corporation (NYSE:LOCL ) Q2 2024 Earnings Conference Call August 13, 2024 8:00 AM ET Company Participants Jeff Sonnek - Investor Relations, ICR Craig Hurlbert - Co-Founder & Chief Executive Officer Kathleen Valiasek - President & Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer & Company Ben Klieve - Lake Street Capital Markets Scott Fortune - ROTH Capital Markets Operator Good morning, and welcome to the Local Bounti Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q2 2024 Earnings Call Transcript

Local Bounti Corporation (LOCL) came out with a quarterly loss of $3 per share versus the Zacks Consensus Estimate of a loss of $3.19. This compares to loss of $1.35 per share a year ago.

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

Recently began shipping to Sam's Club and Brookshire's out of Texas facility Negotiating an additional $175 million financing commitment for a total of up to $400 million in capital commitments to support 2024 and future projects including working capital and strategic growth capital — anticipate closing in third quarter of 2024 Reiterates full year 2024 sales guidance of $50 to $60 million, representing a doubling of revenue versus 2023 HAMILTON, Mont. , Aug. 13, 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 quarter ended June 30, 2024 and reiterated full year 2024 guidance.

Local Bounti Announces Second Quarter 2024 Financial Results

Expanded distribution brings Local Bounti's full assortment of product offerings to more than 180 BGC locations HAMILTON, Mont. , Aug. 12, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it is now shipping to Brookshire Grocery Company ("BGC") locations from its new Mount Pleasant, Texas facility.

Local Bounti Now Shipping Product to Brookshire Grocery Company

HAMILTON, Mont. , Aug. 9, 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 second quarter ended June 30, 2024 before the market opens on Tuesday, August 13, 2024.

Local Bounti to Release Second Quarter 2024 Financial Results on Tuesday, August 13, 2024

Now also Supplying Sam's Club from Local Bounti's Recently Opened Texas Facility HAMILTON, Mont. , July 22, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has expanded distribution with its customer, Sam's Club, for its leafy greens production with service commencing from the Company's recently opened CEA facility in Mount Pleasant, Texas.

Local Bounti Expands Distribution with Sam's Club

Added Role of President Reflects Ms. Valiasek's Impact on Improved Operating Efficiency HAMILTON, Mont.

Local Bounti Chief Financial Officer Kathleen Valiasek Promoted to President and CFO

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HAMILTON, Mont. , June 20, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today it received notification (the "Acceptance Letter") from the New York Stock Exchange ("NYSE") that the NYSE has accepted the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards.

Local Bounti Announces NYSE Acceptance of Plan to Regain Listing Compliance

Expected to create approximately 50 jobs in the Mount Pleasant area Innovative CEA facility combines vertical and greenhouse technologies to grow sustainable produce year-round using less water and land HAMILTON, Mont. , May 16, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today it will hold a ribbon cutting ceremony on Tuesday, June 18, 2024 from 1:00 to 4:00 pm local time to mark the official opening of its latest state-of-the-art controlled environment agriculture (CEA) facility in Mount Pleasant, Texas.

Local Bounti to Mark Opening of New High-Tech Controlled Environment Agriculture Facility in Mount Pleasant, Texas with Ribbon Cutting Ceremony

Local Bounti Corporation (NYSE:LOCL ) Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET Company Participants Jeff Sonnek - Investor Relations, ICR Craig Hurlbert - Co-Founder & Chief Executive Officer Kathleen Valiasek - Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer Ben Klieve - Lake Street Capital Markets Operator Good morning and welcome to Local Bounti's First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.

Local Bounti Corporation (LOCL) Q1 2024 Earnings Call Transcript

First customer deliveries from Washington and Texas facilities shipping in second quarter Expands penetration in Pacific Northwest and Texas with new retail customers, including Albertsons Seattle and Brookshire's 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 Grab-and-Go Salad Kits gaining distribution momentum Provides full year 2024 sales guidance of $50 to $60 million, representing a doubling of revenue versus 2023 HAMILTON, Mont. , May 9, 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 months ended March 31, 2024 and provided initial full year 2024 guidance.

Local Bounti Announces First Quarter 2024 Financial Results

HAMILTON, Mont. , May 6, 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 first quarter ended March 31, 2024 before the market opens on Thursday, May 9, 2024.

Local Bounti to Release First Quarter 2024 Financial Results on Thursday, May 9, 2024

Innovative CEA facility combines vertical and greenhouse technologies to grow sustainable produce year-round using 90% less water and land Enhances rapidly growing national distribution footprint, which is the largest in the CEA industry Expected to create more than 40 jobs in the Tri-Cities region HAMILTON, Mont. , April 23, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE: LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that it will mark the opening of its new controlled environment agriculture (CEA) facility in Pasco, Washington with a ribbon cutting ceremony on Tuesday, May 7, 2024, from 1:00 to 4:00 pm local time.

Local Bounti to Mark Opening of New High-Tech Controlled Environment Agriculture Facility in Pasco, Washington with Ribbon Cutting Ceremony

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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.

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