Net loss was $36.1 million, or $0.25 per share, compared to net income of $215 million, or $1.48 per share, last year. Adjusted EPS fell 54% to $0.66 compared to last year.
Revenue and earnings missed estimates.
The company lowered its guidance for fiscal year 2025. It now expects net sales to be $6.35-6.45 billion and adjusted EPS to be $3.05-3.20 versus the previous expectations for sales of $6.6-6.8 billion and adjusted EPS of $4.15-4.35.
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The earnings miss and guidance cut caused the stock to crash over 19% in premarket hours on Thursday.
Lamb Weston also announced the appointment of Michael J. Smith as President and Chief Executive Officer, replacing Thomas P. Werner.
Prior performance
