Why Lamb Weston Stock Is Falling 11% Today
Shares of Lamb Weston (NYSE: LW) are tumbling today, down 11% as of 3:44 p.m. EDT, after the company reported fiscal fourth-quarter results that beat estimates on the top line, but earnings swung to an unexpected loss.
The frozen potato producer reported revenue of $847 million, down almost 16% from last year, but ahead of the consensus estimate of $798 million. However, it posted a loss of $1.6 million, or $0.01 per share, compared to a profit of $110 million a year ago, or $0.75 per share. That fell well short of Wall Street's forecast for EPS of $0.15.
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Source Fool.com
