Lamb Weston Outperforms Wall Street Forecasts; Conagra Posts Mixed Results
- October 05th, 2023
- 643 views
Lamb Weston Holdings, Inc. (NYSE: LW) has released its first-quarter fiscal 2024 results, reporting adjusted earnings of $1.63 per share, surpassing the consensus estimate of $1.08. The company's quarterly sales reached $1.67 billion, exceeding analysts' revenue expectations of $1.62 billion.
Notably, Lamb Weston is raising its full-year fiscal 2024 adjusted earnings per share (EPS) outlook to a range of $5.50 to $5.95, up from the previous guidance of $4.95 to $5.40. This adjustment contrasts with the consensus EPS estimate of $5.35 for the period.
$LW was trading at $102.50 in pre-market, reflecting a significant increase of $12.01 (+13.27%).
In separate news, Conagra Brands, Inc. (NYSE: CAG) reported its first-quarter fiscal 2024 results, with adjusted earnings of $0.66 per share, beating the consensus EPS estimate of $0.60. Quarterly sales for the company totaled $2.90 billion, slightly below analysts' revenue projections of $2.95 billion.
In pre-market, $CAG was trading at $25.68, down $0.85 (-3.20%).
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