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LW - Lamb Weston Holdings Inc News Story

$73.52 -0.1  -0.1%

Last Trade - 20/09/19

Sector
Consumer Defensives
Size
Large Cap
Market Cap £8.58bn
Enterprise Value £10.44bn
Revenue £3.01bn
Position in Universe 711th / 6401

BRIEF-Lamb Weston Reports Q4 Adjusted Earnings Per Share $0.74

Tue 23rd July, 2019 1:43pm
July 23 (Reuters) - Lamb Weston Holdings Inc  LW.N :
    * LAMB WESTON REPORTS FISCAL FOURTH QUARTER AND FULL YEAR
2019
RESULTS; PROVIDES FISCAL YEAR 2020 OUTLOOK
    * Q4 ADJUSTED EARNINGS PER SHARE $0.74
    * Q4 EARNINGS PER SHARE $0.75
    * Q4 SALES $1.003 BILLION VERSUS REFINITIV IBES ESTIMATE OF
$972.5
MILLION
    * Q4 EARNINGS PER SHARE ESTIMATE $0.72 -- REFINITIV IBES
DATA
    * FISCAL YEAR 2020 NET SALES EXPECTED TO INCREASE MID-SINGLE
DIGITS
    * FOR FISCAL 2020, BELIEVE OVERALL OPERATING ENVIRONMENT
WILL
CONTINUE TO BE GENERALLY FAVORABLE
    * FISCAL YEAR 2020 ADJUSTED EBITDA INCLUDING UNCONSOLIDATED
JOINT
VENTURES EXPECTED TO BE $950 MILLION-$970 MILLION
    * LAMB WESTON HOLDINGS - EXPECTS TO REPORT MATERIAL WEAKNESS
IN
INTERNAL CONTROL IN ITS UPCOMING FISCAL 2019 FORM 10-K
    * EXPECT CONTINUED SOLID DEMAND GROWTH IN MARKETS FOR FISCAL
2020
    * LAMB WESTON HOLDINGS - MATERIAL WEAKNESS IN FISCAL 2019
FORM
10-K RELATES TO DEFICIENCY IN AN INFORMATION TECHNOLOGY GENERAL
CONTROL
    * LAMB WESTON HOLDINGS - REMEDIATION EFFORTS ARE UNDERWAY
AND CO
EXPECTS TO COMPLETE REMEDIATION OF MATERIAL WEAKNESS PRIOR TO
END OF FISCAL YEAR 2020
    * FOR FISCAL YEAR 2020 SEES CASH USED FOR CAPITAL
EXPENDITURES,
EXCLUDING ACQUISITIONS OF ABOUT $275 MILLION
    * LAMB WESTON - IN FISCAL 2020, FOR SALES ANTICIPATE SOLID
VOLUME
GROWTH, IMPROVEMENTS IN PRICE/MIX, THAT WILL ENABLE CO TO OFFSET
INPUT COST INFLATION

Source text for Eikon:  ID:nBw3b1pX9a 
Further company coverage:  LW.N 

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