Landec (LNDC) Reports In-Line Q3 EPS, Reiterates FY Guidance

Landec (NASDAQ: LNDC) reported Q3 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $152.9 million versus the consensus estimate of $148.8 million.

GUIDANCE:
Excluding restructuring and other nonrecurring charges, tax implications and any potential impact of the COVID-19 pandemic, the Company is reiterating its full year fiscal 2020 guidance, which is detailed below with growth figures that are compared to fiscal 2019:

Revenue from continuing operations:

• Consolidated Revenues: range of $580 million to $590 million (growth of 4% to 6%)
• Lifecore: range $84 million to $85 million (growth of 10% to 12%)
• Curation Foods: range of $496 million to $504 million (growth of 3% to 5%)

Adjusted EBITDA:

• Consolidated: range $30 million to $34 million (growth of 15% to 30%)
• Lifecore: range of $21 million to $23 million (growth of 5% to 15%)
• Curation Foods: range of $12 million to $14 million (growth of 70% to 90%)

Adjusted diluted net income per share:

• Consolidated: range of $0.16 to $0.20

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

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