Potato products company Lamb Weston (NYSE:LW) will be reporting earnings tomorrow before market hours. Here's what to expect.
Last quarter Lamb Weston reported revenues of $1.67 billion, up 47.9% year on year, beating analyst revenue expectations by 3.2%. It was a stunning quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Lamb Weston buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Lamb Weston's revenue to grow 33.1% year on year to $1.70 billion, improving on the 26.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.42 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing two upwards revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Lamb Weston's peers in the consumer staples segment, only General Mills has so far reported results, with revenues decreasing 1.6% year on year, missing analyst estimates by 4.1%. The stock was down 1% on the results.Read our full analysis of General Mills's earnings results here.
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The author has no position in any of the stocks mentioned.