Lamb Weston (LW) Q2 Earnings: What To Expect
Lamb Weston beat analysts' revenue expectations by 2.4% last quarter, reporting revenues of $1.52 billion, up 4.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts' EBITDA estimates and an impressive beat of analysts' gross margin estimates.
Is Lamb Weston a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Lamb Weston's revenue to decline 1.6% year on year to $1.59 billion, improving from the 4.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.63 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lamb Weston has missed Wall Street's revenue estimates five times over the last two years.
Looking at Lamb Weston's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. McCormick posted flat year-on-year revenue, meeting analysts' expectations, and Simply Good Foods reported revenues up 13.8%, in line with consensus estimates. McCormick traded up 3.6% following the results while Simply Good Foods was also up 1.7%.
Read our full analysis of McCormick's results here and Simply Good Foods's results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Lamb Weston is down 11% during the same time and is heading into earnings with an average analyst price target of $62.59 (compared to the current share price of $48.15).
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