Lamb Weston results beat expectations

lamb-weston-results-beat-expectations

Lamb Weston Holdings Inc. LW, +9.55% stock soared 11.8% in Thursday trading after the potato and vegetable company reported fiscal second-quarter earnings and sales that beat expectations. Net income totaled $32.5 million, or 22 cents per share, down from $96.9 million, or 66 cents per share, last year. Adjusted EPS of 50 cents beat the FactSet consensus for 33 cents. Sales of $1.000 billion were up from $896.1 million last year and ahead the FactSet consensus for $997.8 million. For the full-year, Lamb Weston is guiding for low-to-mid single digit sales growth. The FactSet consensus is for sales of $4.051 billion, suggesting 10.4% growth. Lamb Weston has fallen 7.9% over the past year while the S&P 500 index SPX, +0.08% has gained 25% for the period.

Source: Marketwatch

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