Benzinga | Apr 7, 2021 10:13AM EDT

Recap: Lamb Weston Q3 Earnings



Shares of Lamb Weston Hldgs (NYSE:LW) moved higher by 0.6% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 41.56% over the past year to $0.45, which missed the estimate of $0.51.

Revenue of $896,000,000 decreased by 4.41% from the same period last year, which beat the estimate of $816,450,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Lamb Weston Hldgs hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Apr 07, 2021

Time: 10:00 AM

ET Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1438303&tp_key=21b7f745da

Technicals

52-week high: $86.41

Company's 52-week low was at $51.38

Price action over last quarter: Up 6.09%

Company Overview

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 food-service channel, while the remaining 14% is sold through retail. Lamb Weston became an independent company in 2016 when it was spun off from Conagra.