Investing.com - Local Bounti reported on Thursday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Local Bounti announced earnings per share of $-0.300 on revenue of $6.29M. Analysts polled by Investing.com anticipated EPS of $-0.250 on revenue of $7.17M.
Local Bounti shares are down 24% from the beginning of the year , still down 78.17% from its 52 week high of $12.87 set on Wednesday, November 24, 2021.
Local Bounti shares gained 2.85% in pre-market trade the report.
Local Bounti follows other major Consumer Staples sector earnings this month
Local Bounti's report follows an earnings beat by Procter&Gamble on Wednesday, October 19, 2022, who reported EPS of $1.57 on revenue of $20.61B, compared to forecasts EPS of $1.56 on revenue of $20.37B.
Coca-Cola had beat expectations on Tuesday, October 25, 2022 with third quarter EPS of $0.69 on revenue of $11.06B, compared to forecast for EPS of $0.6388 on revenue of $10.53B.
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