Lamb Weston Holdings, Inc. has revealed a decrease in its earnings for the third quarter compared to the same period last year. The company's earnings equaled $146.1 million, or $1.01 per share, down from last year's third quarter results of $175.1 million, or $1.21 per share.
When excluding certain items, Lamb Weston Holdings, Inc. reported adjusted earnings of $175 million, or $1.20 per share for this quarter. The company's revenue, however, experienced an increase, rising 16.8% to reach $1.46 billion, up from $1.25 billion the previous year.
A quick overview of Lamb Weston Holdings, Inc.'s earnings shows the following GAAP compliant results:
- Earnings (Q3):$146.1 million compared to $175.1 million last year
- Earnings Per Share (EPS) (Q3): $1.01 down from $1.21 the previous year
- Revenue (Q3): An increase to $1.46 billion from $1.25 billion last year.
Regarding its forward guidance, the company predicts full year EPS to be between $5.50 and $5.65, and a full year revenue guidance of between $6.54 billion and $6.60 billion.
