Welcome to our dedicated page for LOCAL BOUNTI news (Ticker: LOCL), a resource for investors and traders seeking the latest updates and insights on LOCAL BOUNTI stock.
Local Bounti Corporation (LOCL) provides investors and industry stakeholders with comprehensive updates on sustainable agriculture innovations and corporate developments. This dedicated news hub aggregates official press releases, financial disclosures, and operational milestones related to the company's patented Stack & Flow Technology.
Access timely updates on facility expansions, product distribution partnerships, and environmental impact metrics. Key content includes earnings reports, technology deployments, and sustainability initiatives that demonstrate Local Bounti's leadership in resource-efficient food production.
Bookmark this page to monitor the company's progress in revolutionizing controlled environment agriculture through its hybrid growing systems that use 90% less water than traditional farming. Stay informed about strategic developments shaping the future of local food ecosystems across North America.
Local Bounti Corporation (NYSE: LOCL) has announced the launch of chef-inspired, grab-and-go salads made with sustainably grown greens. These salads aim to address consumer concerns about quality and freshness in prepared meals. The initial rollout includes two vegetarian-friendly options, Poppy Power and Modern Greek, with plans for expansion in early 2023. Local Bounti's proprietary Stack & Flow Technology™ enhances crop yields while using significantly less water and land compared to traditional farming methods.
Local Bounti Corporation (NYSE: LOCL) reported second quarter revenues of $6.3 million for the period ending June 30, 2022, a significant increase from $0.1 million in the prior year. The company reaffirmed its full year 2022 sales guidance of at least $20 million. A new commercial facility in Georgia began operations July 2022, with plans for another facility in Texas. Despite these advancements, the company faced a net loss of $31.7 million and a gross profit loss of $12,000 due to supply chain challenges, although adjustments suggest eventual recovery.
Local Bounti (NYSE: LOCL) plans to release its second quarter 2022 financial results before the market opens on August 15, 2022. The company, which focuses on indoor agriculture using innovative Stack & Flow Technology™, aims to enhance crop yield while minimizing resource usage. A conference call with management is scheduled for 8:00 a.m. ET on the same day to discuss the results and business updates. The call will also be accessible via the company’s website and archived for future reference.
Local Bounti Corporation (NYSE: LOCL) announced the opening of a new controlled environment agriculture (CEA) facility in Byron, Georgia, enhancing its East Coast presence. This facility supports demand from major retailers like Albertsons, Kroger, and Walmart, and utilizes Stack & Flow Technology™ to improve yield and efficiency. The facility will initially cover 3 acres, with plans to expand to 6 acres and potentially up to 24 acres. Local Bounti's method uses 90% less water and land compared to traditional farming, aiming to reduce food waste and provide fresher produce.
Local Bounti Corporation (NYSE: LOCL) has officially joined the Russell 2000® Index as of June 27, 2022. This update follows the annual reconstitution of the Russell indexes, which ranks the largest U.S. stocks by market capitalization. Inclusion in the Russell 2000 is significant as it provides visibility and credibility to the company among institutional investors, with Russell indexes serving as benchmarks for approximately $12 trillion in assets. Local Bounti specializes in innovative indoor agriculture, using Stack & Flow Technology™ to enhance crop yields while conserving resources.
Local Bounti Corporation (NYSE: LOCL) announced its participation in the BMO Global Farm to Market Conference on May 18-19, 2022. Co-CEOs Craig Hurlbert and Travis Joyner, along with CFO Kathleen Valiasek, will present on May 18 at 1:15 PM ET. The presentation will be available via a live audio webcast on the Company’s Investor Relations website. Local Bounti uses proprietary Stack & Flow Technology to improve crop yields and sustainability, utilizing 90% less land and water than traditional farming.
Local Bounti Corporation (NYSE: LOCL) reported first-quarter 2022 results, achieving sales of $282,000 compared to $57,000 a year prior. Acquiring Pete's for $122.5 million enhances its scaled operations across 10,000 retail doors. Gross profit was $48,000 with a gross margin of 17%, while net loss reached $25.8 million. The Georgia facility is set to commence operations in July, with capacity expansions planned, and the company reaffirms a full-year 2022 sales guidance of at least $20 million.
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