LOCL, LOCLW · CIK 0001840780 · operating
Local Bounti Corporation operates controlled environment agriculture facilities to produce fresh leafy greens and herbs for the North American market. The company's product portfolio includes lettuce varieties, arugula, spinach, basil, and other fresh herbs, along with berry products. Production utilizes indoor farming techniques at facilities based in Hamilton, Montana, with distribution focused on the United States market.
The company sells its output through two primary channels: food retailers and food service distributors. This dual-channel approach provides exposure to both the retail grocery segment and institutional food service markets. Revenue is generated through wholesale supply arrangements with these distribution partners rather than direct consumer sales.
Local Bounti operates with approximately 333 full-time employees and maintains headquarters in Hamilton, Montana. The company was established in 2018 and is incorporated in Delaware, with shares listed on the New York Stock Exchange. The company competes within the broader farm products sector, specifically within specialty crop production using controlled environment agriculture methods.
Fiscal years are as reported by the company and may not align with the calendar year. For example, Apple's FY 2024 ends in September 2024.
| Fiscal Year | EPS Diluted | EPS Basic | YoY | |
|---|---|---|---|---|
| 2024 | $-14.14 | $-14.14 | +9.4% | |
| 2023 | $-15.61 | $-15.61 | -1129.1% | |
| 2022 | $-1.27 | $-1.27 | -19.8% | |
| 2021 | $-1.06 | $-1.06 | — |