Lamb Weston reported better-than-expected revenues and earnings for its third quarter.
The packaged potato products maker had earnings of 95 cents per share, beating analysts’ expectations of 83 cents per share. Revenue for the quarter jumped +7% year-over-year to $927 million, surpassing analysts’ expected $898.5 million.
President and CEO Tom Werner emphasized “good balance of price/mix improvement and volume growth” alongwith “operating efficiencies and cost savings” to have boosted margins.
The company forecasts that its full-year net sales would grow in the high-single digits, up from its previous estimate of mid- to high-single digits.