Lamb Weston (LW) Tops Q3 EPS by 6c, Reaffirms FY17 Outlook

Lamb Weston (NYSE: LW) reported Q3 EPS of $0.59, $0.06 better than the analyst estimate of $0.53. Revenue for the quarter came in at $768.5 million versus the consensus estimate of $759.74 million.

Outlook

The Company provides earnings guidance on a non-GAAP basis and does not reconcile guidance to GAAP as the Company cannot predict certain elements that are included in reported GAAP results, including costs related to the spinoff from Conagra and other items impacting comparability.

For fiscal 2017, the Company continues to expect net sales to grow at a mid-single digit rate, Adjusted EBITDA including unconsolidated joint ventures(1) to grow at a mid-teens rate and Adjusted Diluted EPS(1) of $2.20 to $2.28.

In addition, the Company continues to expect total interest expense to be approximately $60 million, and now expects its effective tax rate(2) to be 33 to 34 percent. The Company’s previous estimate was approximately 34 percent.

For earnings history and earnings-related data on Lamb Weston (LW) click here.

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