Note: EPS may not be comparable

Lamb Weston (NYSE: LW) reported Q3 EPS of $0.91, $0.18 better than the analyst estimate of $0.73. Revenue for the quarter came in at $863 million versus the consensus estimate of $810.89 million.

Third Quarter 2018 Highlights

• Net sales increased 12% to $863 million
• Income from operations increased 17% to $169 million; Adjusted Income from Operations(1) increased 14% to $171 million
• Adjusted EBITDA including unconsolidated joint ventures(1) increased 25% to $238 million
• Diluted EPS increased to $1.06 from $0.57 in third quarter 2017; $0.31 of the increase related to U.S. tax reform, including a $0.16 benefit from discrete items and a $0.15 benefit from a lower tax rate
• Adjusted Diluted EPS(1) increased to $0.91 from $0.59 in third quarter 2017, and includes a $0.15 benefit from a lower tax rate as a result of U.S. tax reform

Updated FY 2018 Outlook

• Net sales expected to increase at upper end of mid-single digits range, up from a previous estimate of mid-single digits
• Adjusted EBITDA including unconsolidated joint ventures(1) expected to be $805 million-$810 million, up from a previous estimate of $780 million-$790 million

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