Lamb Weston Holdings, Inc. (NYSE:LW) on Wednesday posted stronger-than-expected earnings and revenue for the third quarter.
The company reported third-quarter adjusted earnings per share of 72 cents, beating the analyst consensus estimate of 61 cents. Quarterly sales of $1.565 billion outpaced the Street view of $1.492 billion.
Lamb Weston raised its 2026 sales guidance to $6.45 billion to $6.55 billion from $6.35 billion to $6.55 billion. The company projects adjusted EBITDA of $1.08 billion to $1.14 billion (prior view: $1 billion to $1.20 billion).
"Our focus on operational rigor and cost discipline continues to drive strong productivity, and we now expect to exceed our cost reduction target of at least $250 million by fiscal year-end 2028," said CEO Mike Smith.
Lamb Weston shares gained 0.8% to trade at $38.80 on Thursday.
These analysts made changes to their price targets on Lamb Weston following earnings announcement.
- B of A Securities analyst Peter Galbo maintained Lamb Weston with a Neutral and lowered the price target from $49 to $47.
- Wells Fargo analyst Marc Torrente maintained the stock with an Overweight rating and cut the price target from $54 to $46.
- Stifel analyst Matthew Smith maintained Lamb Weston with a Hold and lowered the price target from $50 to $45.
- Barclays analyst Andrew Lazar maintained Lamb Weston with an Overweight rating and lowered the price target from $55 to $46.
- BNP Paribas analyst Max Gumport maintained the stock with a Neutral and cut the price target from $48 to $41.
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