(Updates with latest stock movement in the headline and lede, analyst comments in the last paragraph.)
Lamb Weston (LW) shares were down 24% in recent Friday trading after its fiscal Q2 adjusted earnings fell from a year earlier and it reaffirmed its full-year sales outlook.
The company reported fiscal Q2 adjusted earnings of $0.69 per diluted share, down from $0.73 a year earlier. Analysts polled by FactSet expected $0.64.
Net sales for the quarter ended Nov. 23 were $1.62 billion, up from $1.60 billion a year earlier. Analysts surveyed by FactSet expected $1.59 billion.
The company reaffirmed its fiscal 2026 net sales outlook range of $6.35 billion to $6.55 billion. Analysts polled by FactSet expect $6.53 billion.
Analysts at CFRA, in a research alert, said that Lamb Weston reaffirming its guidance likely disappointed investors who were expecting an upward revision considering "strong" results in fiscal H1.
Price: 45.07, Change: -14.26, Percent Change: -24.04
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