Lamb Weston Reports Fiscal First Quarter 2022 Results; Updates Fiscal Year 2022 Outlook
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Go back to Lamb Weston Reports Fiscal First Quarter 2022 Results; Updates Fiscal Year 2022 Outlook
October 8, 2021 8:39 AM EDT
Stifel analyst Christopher R. Growe lowered the price target on Lamb Weston (NYSE: LW) to $78.00 (from $89.00) while maintaining a Buy rating following results.
The analyst commented, "Lamb Weston reported its 1Q21 earnings with sales ahead of expectations but a weak profit performance that... More
October 7, 2021 8:35 AM EDT
Lamb Weston (NYSE: LW) reported Q1 EPS of $0.20, $0.21 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $984 million versus the consensus estimate of $1.01 billion.
Fiscal 2022 Outlook:
The Company continues to expect fiscal 2022 net sales growth will be above its long-term target of low-to-mid single digits. The Company continues to anticipate net sales growth in the second quarter of fiscal 2022 will be driven largely by higher volume, reflecting an ongoing recovery in demand for frozen potato products, as well as a favorable comparison to relatively soft... More
