Benzinga | Jan 7, 2021 09:03AM EST

Lamb Weston: Q2 Earnings Insights



Shares of Lamb Weston Hldgs (NYSE:LW) were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 30.53% year over year to $0.66, which beat the estimate of $0.62.

Revenue of $896,100,000 declined by 12.06% year over year, which beat the estimate of $876,790,000.

Outlook

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

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

How To Listen To The Conference Call

Date: Jan 07, 2021

Time: 10:30 AM

ET Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1410518&tp_key=c9307624a0

Price Action

52-week high: $96.32

52-week low: $39.06

Price action over last quarter: Up 3.04%

Company Description

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.