Lamb Weston (LW) Tops Q2 EPS by 11c

Lamb Weston (NYSE: LW) reported Q2 EPS of $0.63, $0.11 better than the analyst estimate of $0.52. Revenue for the quarter came in at $790.7 million versus the consensus estimate of $776 million.

GUIDANCE:

Lamb Weston sees FY2017 EPS of $2.20-$2.28.

“We’re very excited to begin our journey as an independent company and are pleased with our better-than-expected second quarter and year-to-date results,” said Tom Werner, President and CEO. “Our focus on execution in this favorable environment is evident in our strong first half performance, and we’ve raised our sales and earnings outlook accordingly. Demand for frozen potato products continues to grow around the world. We’re managing through a tight capacity environment and driving supply chain efficiencies to meet current demand until our capacity expansion comes online in the second half of calendar 2017. We believe that we’re well positioned to capture growth over the long term through our strong relationships with customers, our innovation and our global footprint.”

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

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