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Lamb Weston: Fiscal 1Q Earnings Snapshot

Lamb Weston Holdings Inc. (LW) on Wednesday reported fiscal first-quarter net income of $115.7 million.

The Eagle, Idaho-based company said it had net income of 79 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The frozen foods supplier posted revenue of $989 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $971.8 million.

Lamb Weston shares have dropped slightly since the beginning of the year. The stock has risen 12% in the last 12 months.

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