Landec (LNDC) Reports Q3 Loss of $0.08/sh, Offers Guidance

Landec (NASDAQ: LNDC) reported Q3 EPS of ($0.08), versus $0.03 reported last year. Revenue for the quarter came in at $53.1 million, versus $44.69 million reported last year.

GUIDANCE:

Landec sees FY2022 revenue of $179-185 million.

• Pro forma consolidated: range of $179 million to $185 million (+4% to +8%)
• Lifecore segment: range of $105 million to $108 million (+7% to +10%)
• Pro forma Curation Foods segment (fiscal 2022, pro forma for the completion of the Eat Smart Disposition as if it occurred on May 31, 2021): range of $74 million to $77 million (+1% to +5%)

Adjusted EBITDA from continuing operations (full year fiscal 2022):

• Pro forma consolidated: range of $20.5 million to $23 million (+10% to +24%)
• Lifecore segment: range of $26 million to $27 million (+6% to +10%)
• Pro forma Curation Foods segment (fiscal 2022, pro forma for the completion of the Eat Smart Disposition as if it occurred on May 31, 2021): range of $3 million to $4 million (flat to +33%)
• Other (Corporate Expense): range of ($8.0) million to ($8.5) million; reflects a $3.5 million reallocation of corporate expense from the Eat Smart Disposition to the Other segment

For earnings history and earnings-related data on Landec (LNDC) click here.

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