Lamb Weston (LW) Misses Q4 EPS by 17c

Lamb Weston (NYSE: LW) reported Q4 EPS of ($0.01), $0.17 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $847 million versus the consensus estimate of $818.73 million.

First Quarter of Fiscal Year 2021 Business Update (for 7 weeks ending July 20)

• North America shipments at approximately 85% of prior-year level, led by demand from quick serve restaurants and retail, while full-service restaurants have improved sequentially as states ease restrictions
• Europe shipments at approximately 75% of prior-year level, and have improved sequentially as countries ease restrictions
• China shipments at approximately 85% of prior-year level, while performance in other international markets has softened due to the effect of the continued spread of COVID-19 as well as inventory destocking

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

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