Good day, and welcome to the Lamb Weston Second Quarter 2021 Earnings Call. [Operator Instructions]
At this time, I would like to turn the conference over to Dexter Congbalay, VP, Investor Relations of Lamb Weston. Please go ahead.
Dexter Congbalay
Vice President, Investor Relations
Good morning and thank you for joining us for Lamb Weston s second quarter 2021 earnings call. This morning, we issued our earnings press release, which is available on our website, lambweston.com. Please note that during our remarks, we ll make some forward-looking statements about the company s expected performance. These statements are based on how we see things today. Actual results may differ materially due to risks and uncertainties.
Lamb Weston net sales declined by 12%
Lamb Weston Holdings, Inc. announced its fiscal second quarter 2021 results and provided a business update for the third quarter of fiscal 2021.
“We delivered solid financial results in the quarter, and we remain encouraged by the resiliency of consumer demand and the resourcefulness of our employees and our customers in adapting to this challenging environment,” said Tom Werner, President and CEO.
“We are optimistic that the availability of COVID-19 vaccines will enable a gradual return to normalcy as the year progresses, but we expect to continue to face difficult and volatile operating conditions until the virus is broadly contained. Specifically, we expect demand will remain soft in the coming months, especially at full-service restaurants, as governments continue to impose broad social restrictions and as colder weather limits outdoor dining. That said, we expect demand at quick service restaurants and at retail outlets to offset so
Lamb Weston Holdings, Inc. Profit Declines In Q2
WASHINGTON (dpa-AFX) - Lamb Weston Holdings, Inc. (LW) revealed earnings for second quarter that fell from last year.
The company s bottom line came in at $96.9 million, or $0.66 per share. This compares with $140.4 million, or $0.95 per share, in last year s second quarter.
Analysts had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter fell 12.7% to $0.89 billion from $1.02 billion last year.
Lamb Weston Holdings, Inc. earnings at a glance:
-Earnings (Q2): $96.9 Mln. vs. $140.4 Mln. last year.
-EPS (Q2): $0.66 vs. $0.95 last year.
Published Tue, Dec 15th 2020
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