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Why Lamb Weston Stock Jumped on Thursday

TheMotleyFool

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Why Lamb Weston Stock Jumped on Thursday: https://g.foolcdn.com/editorial/images/749967/sharing-food-with-friends.png

Shares of Lamb Weston Holdings (NYSE: LW) were up 8.6% as of 11:27 a.m. ET on Thursday after the company announced strong results for the fiscal first quarter ending Aug. 27.

The frozen potato supplier said net sales grew 48% year over year partly boosted by acquisitions. Moreover, adjusted earnings per share more than doubled from $0.78 a year ago to $1.63. The strong performance caused management to raise its full-year earnings forecast.

The company's sales got a boost from higher prices implemented last year. Excluding the favorable impact of acquisitions, organic (adjusted) sales volumes were still in line with management's expectations.

Source Fool.com

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