Sep. 30 at 7:52 PM
Lamb Weston’s stock rose 5% after fiscal first-quarter results exceeded expectations, signaling early success from its multi-year turnaround plan. Net revenue reached
$1.66 billion, flat year-over-year but above the
$1.62 billion forecast, while adjusted diluted EPS came in at
$0.74, beating expectations of
$0.52.
Product prices declined 7%, but sales volume rose 6%, reflecting strong demand for frozen potato products. The company is implementing a restructuring plan targeting
$250 million in annualized savings by fiscal 2028, including workforce reductions and tighter capital allocation. While near-term charges may impact earnings, management remains optimistic that traditional French fries will continue to drive growth.
$LW