Lamb Weston: Fiscal Q4 Earnings Snapshot
EAGLE, Idaho (AP) _ Lamb Weston Holdings Inc. (LW) on Wednesday reported fiscal fourth-quarter profit of $32 million.
The Eagle, Idaho-based company said it had profit of 22 cents per share. Earnings, adjusted for asset impairment costs, were 65 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The frozen foods supplier posted revenue of $1.15 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.07 billion.
For the year, the company reported profit of $200.9 million, or $1.38 per share. Revenue was reported as $4.1 billion.
Lamb Weston expects full-year earnings to be $2.45 to $2.85 per share, with revenue in the range of $4.7 billion to $4.8 billion.