07.04.2022 14:51:40

Lamb Weston Affirms FY22 Sales Growth Outlook; Q3 Results Top Estimates

(RTTNews) - While reporting financial results for the third quarter on Thursday, Lamb Weston Holdings, Inc. (LW) said it now continues to project net sales growth for the full-year 2022 to be above its long-term target range of low-to-mid single digits.

On average, seven analysts polled by Thomson Reuters expect the company to report a sales growth of 10.1 percent to $4.04 billion for the year.

The company also noted that net income and adjusted EBITDA, including unconsolidated joint ventures, are expected to be pressured through the remainder of fiscal 2022 due to higher potato, input and transportation costs.

The company added that it anticipates net sales growth in the fourth quarter to be driven largely by price/mix, reflecting the Company's pricing actions to offset input and transportation cost inflation.

For the third quarter, the company reported net income of $106.6 million or $0.73 per share, up from $66.1 million or $0.45 per share in the prior-year quarter. Net sales for the quarter grew 7 percent to $955.0 million from $895.8 million in the same quarter last year.

The Street was looking for earnings of $0.44 per share on net sales of $968.52 million for the quarter.

Analysen zu Lamb Weston Holdings Inc Registered Shs When Issuedmehr Analysen

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