5 Companies in Focus After Posting Their Financial Results

2. Lamb Weston Holdings, Inc. (NYSE:LW)

Number of Hedge Fund Holders: 38

Shares of Lamb Weston Holdings, Inc. (NYSE:LW) rose nearly eight percent on Thursday, April 7, 2022, after posting its fiscal third-quarter profit above expectations. The food processing company reported adjusted earnings of 73 cents per share, beating the consensus of 44 cents per share with a big margin.

However, the quarterly revenue of $955 million fell short of analysts’ average estimate of $968.52 million. Lamb Weston Holdings, Inc. (NYSE:LW) also issued its segment-wise sales performance. Revenue from its global segment inched up 2 percent to $487.9 million, while revenue from the Foodservice business climbed 34 percent to $294.5 million in the quarter. On the downside, revenue from the retail segment fell 12 percent to $143.6 million.

Looking forward, Lamb Weston Holdings, Inc. (NYSE:LW) expects its fiscal 2022 sales to exceed its long-term goal of low-to-mid single digits. In addition, the company lifted its fiscal 2022 gross margin outlook to a range of 19 – 20 percent, compared to its previous guidance of 18 – 20 percent.