Categories Consumer, Earnings, Industrials

Lamb Weston Holdings (NYSE: LW): Q2 2020 Earnings Snapshot

— Potato processing giant Lamb Weston Holdings (NYSE: LW) reported its second-quarter 2020 adjusted earnings of $0.95 per share versus $0.84 per share expected.

— Net sales grew by 12% to $1.02 billion versus $964.88 million expected. The results were benefited by higher volume and an increase in price/mix.

— Volume increased 10% primarily driven by growth in Global and Foodservice segments and includes an approximate 1.5 percentage point benefit from acquisitions as well as an approximate 1 percentage point benefit from additional shipping days related to the timing of the Thanksgiving holiday.

— Price/mix increased 2% due to pricing actions and favorable mix.

— Sales for the Global segment increased by 15% helped by the benefit of limited time product offerings to strategic customers in the US and key international markets.

— Sales for the Foodservice segment rose by 9%. The growth in Lamb Weston branded and distributor private label products drove volume higher by 5%.

— Sales for the Retail segment grew by 7% driven by increased sales of Grown in Idaho and other branded products as well as private label products. The favorable mix and pricing actions drove price/mix higher by 3%.

— Looking ahead into fiscal 2020, the company expects net sales growth rate in the high end of the mid-single-digit range. This is largely driven by volume as well as a modest higher price/mix.

— Adjusted EBITDA is now predicted to be in the range of $965-985 million compared to the previous estimate range of $950-970 million for the full year 2020.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top