LW - Why Frozen Potato Products Supplier Lamb Weston's Shares Are Jumping Today? | Benzinga
Frozen potato products supplier Lamb Weston Holdings Inc (NYSE: LW) reported first-quarter FY24 sales growth of 48% year-on-year to $1.67 billion, beating the analyst consensus estimate of $1.62 billion.
Volume declined 8%, primarily reflecting the company's decisions to exit certain lower-priced and lower-margin business as it continues to strategically manage customer and product mix.
Gross profit increased 82.7% Y/Y to $499.5 million, and the gross margin expanded 570 basis points to 30%.
The operating margin was 19.4%, and operating income for ...