Lamb Weston Q3 Profit Misses Estimates; Withdraws 2020 Outlook - Quick Facts

(RTTNews) - Lamb Weston Holdings, Inc. (LW) reported third-quarter adjusted earnings per share of $0.77, excluding the loss related to the withdrawal from a multiemployer pension plan by Lamb Weston RDO, down 19% from prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.93, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter net sales improved 1% year-on-year to $937.3 million. Analysts expected revenue of $959.19 million for the quarter.

Lamb Weston Holdings has withdrawn its financial outlook for fiscal 2020 for net sales growth and for adjusted EBITDA including unconsolidated joint ventures due to uncertainties from COVID-19.