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

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

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

April 1, 2020 8:30 AM EDT

Third Quarter 2020 Highlights

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

EAGLE, Idaho--(BUSINESS WIRE)-- Lamb Weston Holdings, Inc. (NYSE: LW) announced today its fiscal third quarter 2020 results.

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