Landec Cp Down 2.87% To $8.45 After Earnings Miss

Thursday, October 6, 2022 - Landec Cp (LNDC) reported downside earnings and upside revenues.

Landec Cp's earnings came in at an EPS loss of $0.32 per share, 146% lower than estimates for an EPS loss of $0.13 per share. The firm's loss per share expanded by 39% since reporting a loss of $0.23 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $42.7 million. The Consumer Defensive company managed to surpass those expectations for its first quarter with revenue of $43.4 million, a positive revenue surprise of $615 thousand (1%). The firm managed negative 66% growth year-over-year due to Landec Cp reporting quarterly revenue of $128.8 million in its year-ago quarter. Landec Cp achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 2.87% to $8.45 after the report.

Despite Landec Cp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Landec Cp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 82, putting Landec Cp in the top 25% of stocks. The firm set a 52-week high on February 22, 2022 at $12.04 and set a 52-week low on November 30, 2021 at $7.65.

Landec Corp designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets, and license technology applications to partners. It has two proprietary polymer technology platforms, Intelimer polymers, and hyaluronan biopolymers. The company also sells specialty packaged branded Eat Smart and GreenLine and private label fresh-cut vegetables and whole produce to retailers, club stores, and foodservice operators. Its segments are Curation Foods segment, the Lifecore segment, and the Other. It derives key revenue from the Packaged fresh vegetable segment which includes the marketing and packing of specialty packaged whole and fresh-cut fruit and vegetables. The company has the business presence in US and other countries.