Lamb Weston Shares Rise As Q2 Results Beat View; Outlook Raised

(RTTNews) - Shares of food processing company Lamb Weston Holdings, Inc. (LW) are rising more than 4% Thursday morning after reporting upbeat second-quarter results above analysts' view. The company also raised its full-year earnings outlook.

Net income was $215 million or $1.48 per share for the second quarter, significantly higher than $103.1 million or $0.71 per share in the same quarter last year.

Excluding one-time items, earnings were $211.7 million or $1.45 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.41 per share.

Sales for the quarter increased to $1.732 billion from $1.277 billion a year ago. The consensus estimate was for $1.7 billion.

The company now expects full-year EPS to be in the range of $5.70 - $6.15, up from the previous outlook of $5.47 - $5.92. Analysts expect earnings of $5.9 per share for the year.

LW, currently at $109.93, has traded in the range of $81.25 - $117.38 in the last 1 year.