Lamb Weston reports Fiscal Third Quarter 2021 Results
Lamb Weston Holdings, Inc. today announced its third quarter fiscal 2021 results and provided a business update for the fourth quarter fiscal 2021.
“We delivered solid sales volumes during the quarter as consumers and full-service restaurant traffic responded favorably to the gradual easing of broad social restrictions as the quarter progressed, as well as to the benefit of relatively mild winter weather for much of the period,” said Tom Werner, President and CEO. “However, COVID-19 continued to significantly disrupt our manufacturing and distribution operations across our entire supply chain network, which resulted in higher costs.”
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EARNINGS SUMMARY: Details of Lamb Weston Holdings, Inc. Q3 Earnings Report
WASHINGTON (dpa-AFX) - Lamb Weston Holdings, Inc. (LW) released earnings for third quarter that decreased from last year.
The company s profit came in at $66.1 million, or $0.45 per share. This compares with $111.4 million, or $0.76 per share, in last year s third quarter.
Analysts had expected the company to earn $0.51 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter fell 4.4% to $895.8 million from $937.3 million last year.
Lamb Weston Holdings, Inc. earnings at a glance:
-Analysts Estimate: $0.51
-Revenue (Q3): $895.8 Mln vs. $937.3 Mln last year.