Why Lamb Weston's Shares Jumped 12% Today [The Motley Fool]
Lamb Weston Holdings, Inc. (LW)
Last lamb weston holdings, inc. earnings: 4/1 08:30 am
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Source: The Motley Fool
Why Lamb Weston's Shares Jumped 12% Today The maker of frozen potato products avoided a poor harvest through a combination of weather-based luck and operating skill. Shares of Lamb Weston ( NYSE:LW ) rose as much as 12.3% on Friday, boosted by a strong second-quarter earnings report. By 2:30 p.m. EST, the food processing company's stock had cooled down to a gain of 11%. The Idaho-based frozen potato products specialist saw second-quarter sales rise 12% year over year, landing at $1.02 billion. Adjusted earnings increased by 19% to $0.95 per diluted share. Your average analyst would have settled for earnings near $0.84 per share on revenue in the neighborhood of $965 million. Investors and analysts were expecting soft sales growth due to a poor potato-growing season in places like Minnesota and Canada, but Lamb Weston's farms in Idaho and the Columbia Basin were unaffected, allowing the company to keep the french-fry factories running at full speed in the second quarter. CEO Tom Werne
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News
- Lawsuits target ‘potato cartel' enabled by price data aggregators [Yahoo! Finance]Yahoo! Finance
- Hot potato: Redner's lawsuit accuses companies of creating frozen french fry cartel [Yahoo! Finance]Yahoo! Finance
- Is Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) a Strong ETF Right Now? [Yahoo! Finance]Yahoo! Finance
- McCain, Lamb Weston among frozen-food firms facing price-fixing lawsuits [Yahoo! Finance]Yahoo! Finance
- I tried 4 brands of premade mashed potatoes from the store, and there are only 2 I'd actually serve [Business Insider]Business Insider
LW
Earnings
- 10/1/24 - In-Line
LW
Sec Filings
- 11/12/24 - Form SC
- 11/5/24 - Form 4
- 10/31/24 - Form 144
- LW's page on the SEC website