Lamb Weston raised its outlook for fiscal 2027 after reporting higher-than-expected adjusted earnings and sales in its fiscal first quarter. The french-fry maker reported net income of $29.1 million, or 21 cents a share, for the quarter ended Aug. 30, down from $64.3 million, or 46 cents a share, in the prior year. First-quarter sales increased 0.7% to $1.67 billion, driven by a 5.2% sales increase in North America.
Lamb Weston is pursuing additional cost savings amid unexpected inflationary pressures on key input costs and freight expenses. The company cited continued momentum in North America as a key factor in its improved outlook. Despite lower year-over-year earnings, the adjusted results exceeded expectations, prompting the upward revision.
Lamb Weston remains focused on operational efficiency to offset rising costs. The updated fiscal 2027 guidance reflects confidence in sustained demand and cost management efforts.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing