Benzinga | Oct 7, 2020 08:44AM EDT

Recap: Lamb Weston Q1 Earnings

Shares of Lamb Weston Hldgs (NYSE:LW) rose 2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 22.78% year over year to $0.61, which beat the estimate of $0.30.

Revenue of $871,500,000 declined by 11.88% year over year, which beat the estimate of $869,220,000.

Looking Ahead

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

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

Conference Call Details

Date: Oct 07, 2020

Time: 10:00 AM

ET Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1369199&tp_key=ee6a777918

Price Action

52-week high: $96.32

52-week low: $39.06

Price action over last quarter: Up 17.87%

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.