(RTTNews) - (Adds Outlook, Stock movement)
For the full year, Lamb Weston Holdings, Inc. (LW) has initiated earnings outlook, below the Street view.
The company expects earnings of $630 million to $705 million or $4.35 to $4.85 per share, below analysts' estimate of $6.1 per share.
Lamb Weston anticipates sales of $6.6 billion to $6.8 billion, in line with analysts' forecast of $6.8 billion. LW was trading down by 20.64 percent at $62.39 in the pre-market trade on the New York Stock Exchange.
Tom Werner, CEO of Lamb Weston, said: "We are disappointed by our fourth quarter performance. Our price/mix results were below our expectations, while market share losses and a slowdown in restaurant traffic in the U.S. and many of our key international markets were greater than we expected. We also incurred losses related to a voluntary product withdrawal. We expect fiscal 2025 to be another challenging year."
As of this writing, the stock is trading down more than 20 percent or $16.51 at $61.11 in the pre-market trading on the New York Stock Exchange.
Q4 Result:
Lamb Weston reported earnings for fourth quarter that decreased from the same period last year
The company's bottom line totaled $129.6 million, or $0.89 per share. This compares with $498.8 million, or $3.40 per share, in last year's fourth quarter.
Excluding items, Lamb Weston Holdings, Inc. reported adjusted earnings of $113.7 million or $0.78 per share for the period.
The company's revenue for the quarter fell 4.7% to $1.61 billion from $1.69 billion last year.
Lamb Weston Holdings, Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $129.6 Mln. vs. $498.8 Mln. last year. -EPS (Q4): $0.89 vs. $3.40 last year. -Revenue (Q4): $1.61 Bln vs. $1.69 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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