Lamb Weston Holdings, the US-based potato products supplier, today (6 April) reported higher sales and earnings for the first nine months of its financial year.
The growth came despite a fall in third-quarter profits, although president and CEO Tom Werner said the three months to 26 February had “played out as expected”.
Go deeper with GlobalData
Lamb Weston saw its net income drop 22% to US$84.2m in its third quarter amid lower interest costs and equity method investment earnings. The business also pointed to the lapping of a $17.7m non-cash gain in the previous year’s third quarter.
The group gave a figure for its adjusted EBITDA, including unconsolidated joint ventures, which it said rose 11% in its third quarter to $191m.
Lamb Weston’s income from operations increased 14% to $145m amid a “favourable price/mix”. Net sales were up 5% at $769m amid a four percentage point benefit from price and mix.
Over the first nine months of the year, Lamb Weston generated net income of $251m, up 3% year-on-year. Income from operations grew 23% to $395.7m. Net sales increased 5% to $2.34bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
