Local Bounti Corporation grows fresh greens and herbs. It produces lettuce, herbs, and loose-leaf lettuce. Local Bounti Corporation was founded in 2018 and is headquartered in Hamilton, Montana.
IPO Year: 2021
Exchange: NYSE
Website: localbounti.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/20/2022 | $8.50 | Equal-Weight | Morgan Stanley |
| 1/4/2022 | $9.00 | Buy | Deutsche Bank |
| 12/22/2021 | $11.00 | Outperform | Oppenheimer |
| 12/21/2021 | $8.00 | Buy | Roth Capital |
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 f
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. BGC is stocking Local Bounti's full line of produce products – including its Grab-and-Go Salad Kits, living lettuce and baby leaf varieties – to more than 180 Brookshire store locations across three states in the Southeast and Southwest United States.
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. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Tuesday, August 13, 2024. T
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 is now fulfilling shipments to six of Sam's regional distribution centers from two of its facilities, including Byron, Georgia.
Added Role of President Reflects Ms. Valiasek's Impact on Improved Operating Efficiency HAMILTON, Mont., June 25, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that its Chief Financial Officer (CFO), Kathleen Valiasek, has been promoted to President and Chief Financial Officer, effective June 24. "Since Kathy joined our leadership team over three years ago, her contributions have been extensive, reaching far beyond that of her role as CFO. This appointment recognizes
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. In the Acceptance Letter, the NYSE granted the Company an 18-month period from the Company's receipt of the NYSE's April 3, 2024, notice of noncompliance (the "Plan Period") to regain compliance with the continued listing standards.
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. Members of the Company's management team will be joined by industry leaders, local
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 "
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. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Thursday, May 9, 2024. To parti
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. Members of the
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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. Craig Hurlbert, the Company's Co-Founder and Chairman of the Board, is reprising the role of Chief Executive Officer, effective immediately. Mr. Hurlbert prev
HAMILTON, Mont., March 21, 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 Jennifer Carr-Smith has been appointed to the Company's Board of Directors ("Board") and will serve on the Compensation Committee of the Board, in each case effective May 15, 2023. In connection with this appointment, the Board will be increased from 6 to 7 directors. Ms. Carr-Smith has served as President
HAMILTON, Mont., April 5, 2022 /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 the successful completion of its acquisition of California-based complementary indoor farming company Hollandia Produce Group, Inc., which operates under the name Pete's®, effective April 4, 2022. "The combination of Pete's operational scale and retail distribution footprint with our market-leading unit-level e
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 f
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. BGC is stocking Local Bounti's full line of produce products – including its Grab-and-Go Salad Kits, living lettuce and baby leaf varieties – to more than 180 Brookshire store locations across three states in the Southeast and Southwest United States.
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. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Tuesday, August 13, 2024. T
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 is now fulfilling shipments to six of Sam's regional distribution centers from two of its facilities, including Byron, Georgia.
Added Role of President Reflects Ms. Valiasek's Impact on Improved Operating Efficiency HAMILTON, Mont., June 25, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that its Chief Financial Officer (CFO), Kathleen Valiasek, has been promoted to President and Chief Financial Officer, effective June 24. "Since Kathy joined our leadership team over three years ago, her contributions have been extensive, reaching far beyond that of her role as CFO. This appointment recognizes
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. In the Acceptance Letter, the NYSE granted the Company an 18-month period from the Company's receipt of the NYSE's April 3, 2024, notice of noncompliance (the "Plan Period") to regain compliance with the continued listing standards.
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. Members of the Company's management team will be joined by industry leaders, local
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 "
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. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Thursday, May 9, 2024. To parti
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. Members of the
Morgan Stanley initiated coverage of Local Bounti with a rating of Equal-Weight and set a new price target of $8.50
Deutsche Bank initiated coverage of Local Bounti with a rating of Buy and set a new price target of $9.00
Oppenheimer initiated coverage of Local Bounti with a rating of Outperform and set a new price target of $11.00
Roth Capital initiated coverage of Local Bounti with a rating of Buy and set a new price target of $8.00
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Financial Outlook Management is providing its full year 2024 sales guidance of $50 to $60 million, which reflects expected production from its fully operational Georgia, California and Montana facilities, and to a lesser extent, the partial year contribution from production ramping up at its Texas and Washington facilities.
Local Bounti (NYSE:LOCL) reported quarterly losses of $(2.89) per share which missed the analyst consensus estimate of $(2.15) by 34.42 percent. This is a 4.93 percent increase over losses of $(3.04) per share from the same period last year. The company reported quarterly sales of $8.383 million which missed the analyst consensus estimate of $8.400 million by 0.20 percent. This is a 25.16 percent increase over sales of $6.698 million the same period last year.
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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.In accordance with NYSE procedures, the Company intends to notify