Lamb Weston (NYSE: LW) reported Q3 EPS of $0.95, $0.13 better than the analyst estimate of $0.82. Revenue for the quarter came in at $927 million versus the consensus estimate of $889.84 million.

Company expects:

• Net sales to grow high single digits. The Company’s previous estimate was for net sales to grow mid-to-high single digits.
• Adjusted EBITDA including unconsolidated joint ventures(1) in the range of $895 million to $905 million, an increase from the Company’s previous estimate of $870 million to $880 million.

For fiscal 2019, the Company expects:

• The rate of gross profit dollar growth to be more than net sales growth.
• To incur significantly higher SG&A as it invests to upgrade its information systems and enterprise resource planning infrastructure, as well as sales, marketing, innovation, operations and other functional capabilities, designed to drive operating efficiencies and support future growth.
• Equity method investment earnings to decline versus the prior year, reflecting the effect of significantly higher raw potato prices in Europe due to a poor crop.
• An $8 million to $10 million benefit from the BSW Acquisition.

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