Lamb Weston: Fiscal Q2 Earnings Snapshot
EAGLE, Idaho (AP) — EAGLE, Idaho (AP) — Lamb Weston Holdings Inc. (LW) on Thursday reported fiscal second-quarter net income of $215 million.
On a per-share basis, the Eagle, Idaho-based company said it had net income of $1.48. Earnings, adjusted for non-recurring gains, were $1.45 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The frozen foods supplier posted revenue of $1.73 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.7 billion.
Lamb Weston expects full-year earnings in the range of $5.70 to $6.15 per share, with revenue in the range of $6.8 billion to $7 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LW at https://www.zacks.com/ap/LW
