Lamb Weston Earnings Miss Wall Street Expectations
On Wednesday, Lamb Weston reported fiscal first-quarter numbers, with a net income of $115.7 million. The Idaho-based company reported the net income came out to 79 cents per share. However, that did not meet Wall Street expectations of 80 cents per share.
The frozen foods supplier posted revenue of $989 million in the period, which beat Street forecasts. Lamb Weston shares have dropped slightly since the beginning of the year. The stock has risen 12% in the last 12 months.
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