Local Bounti Q1 2024 GAAP EPS $(2.89) Misses $(2.15) Estimate, Sales $8.383M Miss $8.400M Estimate
Portfolio Pulse from Benzinga Newsdesk
Local Bounti (NYSE:LOCL) reported Q1 2024 earnings with a GAAP EPS of $(2.89), missing the $(2.15) estimate, and sales of $8.383M, slightly below the $8.400M estimate. Despite these misses, the company saw a 4.93% decrease in losses per share and a 25.16% increase in sales compared to the same period last year.
May 09, 2024 | 11:21 am
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Local Bounti's Q1 2024 earnings missed EPS and sales estimates, with a year-over-year decrease in losses and increase in sales.
Missing both EPS and sales estimates typically leads to negative investor sentiment in the short term, potentially causing a decrease in stock price. However, the year-over-year improvement in financials might mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100