Lamb Weston Reports Fiscal Third Quarter 2020 Results; Withdraws Fiscal Year 2020 Outlook due to Uncertainties from the COVID-19 Pandemic’s Effect on Global Restaurant Traffic and Consumer Demand

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Go back to Lamb Weston Reports Fiscal Third Quarter 2020 Results; Withdraws Fiscal Year 2020 Outlook due to Uncertainties from the COVID-19 Pandemic’s Effect on Global Restaurant Traffic and Consumer Demand

Lamb Weston (LW) Misses Q3 EPS by 16c, Revenues Miss; Withdraws FY20 Sales Growth Guidance

April 1, 2020 8:35 AM EDT

Lamb Weston (NYSE: LW) reported Q3 EPS of $0.77, $0.16 worse than the analyst estimate of $0.93. Revenue for the quarter came in at $937 million versus the consensus estimate of $959.19 million.

Third Quarter 2020 Highlights

Net sales increased 1% to $937 millionIncome from operations declined 16% to $163 millionNet income declined 21% to $111 millionAdjusted EBITDA including unconsolidated joint ventures(1) declined 10% to $228 millionDiluted EPS declined 20% to $0.76 from $0.95Adjusted Diluted EPS(1) declined 19% to $0.77 from $0.95

Our results in the third quarter were mixed, said Tom Werner, President and CEO. We drove solid growth in... More