Recap: Lamb Weston Holdings Q3 Earnings

Shares of Lamb Weston Holdings LW fell over 12% on Wednesday after the company reported Q3 results.

Quarterly Results

Earnings per share fell 18.95% year over year to $0.77, which missed the estimate of $0.93.

Revenue of $937,300,000 up by 1.13% year over year, which missed the estimate of $959,190,000.

Outlook

Lamb Weston Holdings hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 01, 2020

Time: 10:03 PM ET

Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1288600&tp_key=5ed9057866

Price Action

Company's 52-week high was at $96.32

52-week low: $39.06

Price action over last quarter: down 36.92%

Company Profile

Lamb Weston is the world's second-largest producer of branded and private-label frozen potato products, such as French fries, sweet potato fries, tots, diced potatoes, mashed potatoes, hash browns, and chips. The company also has a small appetizer business that produces onion rings, mozzarella sticks, and cheese curds. While 80% of revenue are U.S.-based, the firm also sells its products in Canada, Japan, China, Korea, Mexico, and several other countries. About 86% of the firm's products are distributed into the foodservice channel, while the remaining 14% is sold through retail. Lamb Weston became an independent company in 2016 when it was spun-off from Conagra.