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Lamb Weston reported Q2 FY2024 results with revenue up 35.7% year on year to $1.73 billion, beating analyst estimates. Non-GAAP profit was $1.45 per share, an improvement from the $1.28 per share in the same quarter last year. The company expects full-year revenue around $6.9 billion. Organic Revenue is up 36% year on year. The company’s sales volumes jumped 24% year on year. Revenue growth this quarter includes the consolidation of a joint venture completed in February 2023. Market capitalization is $15.21 billion, and the stock is down 1.4%, trading at $103.51 per share. (MarketWatch, 2023).

Lamb Weston is a potato products company known for its Grown in Idaho brand (Reuters, 2023).

An analysis of Lamb Weston’s volume growth vs. its organic revenue growth indicates that most of the company’s gains have come from price increases. (MarketWatch, 2023).

Lamb Weston’s annualized revenue growth rate over the last three years was 21.3%, and this quarter’s revenue growth of 35.7% exceeded Wall Street’s estimates by 1.9%. Sales are expected to grow 11.4% over the next 12 months. (MarketWatch, 2023).

Packaged food stocks, which are considered resilient investments, cater to evolving consumer preferences and are subject to food safety and labeling regulations. (StockStory, 2023).



Read more: Lamb Weston (NYSE:LW) Exceeds Q2 Expectations