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.

Also Read:  Earnings preview: High costs to take fizz out of Constellation Brands' Q4 results

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

Most Popular

Salesforce (CRM) Q1 2021 earning infographic

Salesforce (NYSE: CRM) reported first-quarter earnings results for fiscal 2021 after the regular trading hours on Thursday. The results were better than analysts' projections. Meanwhile, the stock fell over 3%

A visual dashboard of Nordstrom (JWN) Q1 2020 earnings results

Nordstrom (NYSE: JWN) swung to a loss in the first quarter of 2020 hurt by the COVID-19 related charges. The fashion retailer reported a loss of $3.33 per share compared

A visual representation of Ulta Beauty (ULTA) Q1 2020 earnings results

Ulta Beauty Inc. (NASDAQ: ULTA) reported its financial results for the quarter ended May 2, 2020, on Thursday after the market closes. The results missed analysts' expectations. The company slipped

One thought on “Lamb Weston Holdings (NYSE: LW): Q2 2020 Earnings Snapshot

Comments are closed.

Top