Shares of Lamb Weston Holdings LW fell over 12% on Wednesday after the company reported Q3 results.
Quarterly Results
Earnings per share fell 18.95% year over year to $0.77, which missed the estimate of $0.93.
Revenue of $937,300,000 up by 1.13% year over year, which missed the estimate of $959,190,000.
Outlook
Lamb Weston Holdings hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Details Of The Call
Date: Apr 01, 2020
Time: 10:03 PM ET
Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1288600&tp_key=5ed9057866
Price Action
Company's 52-week high was at $96.32
52-week low: $39.06
Price action over last quarter: down 36.92%
Company Profile
Lamb Weston is the world's second-largest producer of branded and private-label frozen potato products, such as French fries, sweet potato fries, tots, diced potatoes, mashed potatoes, hash browns, and chips. The company also has a small appetizer business that produces onion rings, mozzarella sticks, and cheese curds. While 80% of revenue are U.S.-based, the firm also sells its products in Canada, Japan, China, Korea, Mexico, and several other countries. About 86% of the firm's products are distributed into the foodservice channel, while the remaining 14% is sold through retail. Lamb Weston became an independent company in 2016 when it was spun-off from Conagra.
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