Local Bounti Corp Expects FY24 Sales of $50M-$60M Vs $61.7M Est
Portfolio Pulse from Benzinga Newsdesk
Local Bounti Corp (LOCL) has provided its FY24 sales guidance, projecting revenues of $50M-$60M, which is below the estimated $61.7M. This forecast is based on production from its operational facilities in Georgia, California, and Montana, with additional contributions from its Texas and Washington facilities as they ramp up.
May 09, 2024 | 12:06 pm
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Local Bounti Corp expects FY24 sales to be between $50M-$60M, lower than the expected $61.7M, due to contributions from its operational and ramping facilities.
The projected sales figures for FY24 being lower than the market estimate suggests a potential negative impact on investor sentiment and stock price in the short term. The guidance reflects both the contributions and limitations of its operational and ramping facilities, indicating a cautious but growing operational capacity.
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