Lamb Weston Q2 Results Beat Views

Shares of Lamb Weston Holdings were up pre-market Tuesday after the company reported fiscal Q2 earnings and revenues that beat forecasts compiled by Capital IQ and issued upside EPS guidance for FY17.

For Q2 ended Nov. 27, adjusted EPS was $0.63 per share, up 26% year-over-year and above the $0.56 per share average estimate. Revenues rose 7% year-over-year to $791 million and beat expectations for $772.1 million.

For FY17, the food company expects adjusted EPS of $2.20 to $2.28 per share, above the $2.11 per share consensus, with net sales expected to grow in the mid-single digits. LW shares were moving closer to the top end of the 52-week range of $28.75 to $38.60 in recent pre-market.

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