Group 1 - Local Bounti Corporation reported a quarterly loss of $3 per share, which was better than the Zacks Consensus Estimate of a loss of $3.19, but worse than the loss of $1.35 per share a year ago, indicating an earnings surprise of 5.96% [1] - The company posted revenues of $9.44 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 16.43%, compared to revenues of $7.18 million a year ago [2] - Local Bounti shares have increased approximately 30.4% since the beginning of the year, outperforming the S&P 500's gain of 12.1% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is -$3.11 on revenues of $16.1 million, and for the current fiscal year, it is -$12.08 on revenues of $55.4 million [7] - The Agriculture - Operations industry, to which Local Bounti belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]
Local Bounti Corporation (LOCL) Reports Q2 Loss, Lags Revenue Estimates