Lamb Weston raises FY23 adjusted EPS view to $3.75-$4.00 from $2.45-$2.85

Consensus $2.98. Raises FY22 revenue view to $4.8B-$4.9B from $4.7B-$4.8B, consensus $4.73B. The company said, " The Company expects sales volumes may be pressured during the second half of fiscal 2023 as a result of the impact of continuing supply chain disruptions on run-rates and throughput in its production facilities, as well as the potential for a slowdown in restaurant traffic, most notably in casual dining and other full-service restaurants, as consumers continue to face a challenging macroeconomic environment. The Company previously expected to deliver the high end of its net sales range of $4.7 billion to $4.8 billion… Excluding items impacting comparability, Adjusted Net Income(1) of $540 million to $580 million, Adjusted Diluted EPS(1) of $3.75 to $4.00, and Adjusted EBITDA including unconsolidated joint ventures(1) of $1,050 million to $1,100 million, with forecasted earnings growth versus the prior year primarily driven by higher sales and gross margin expansion. Also, excluding items impacting comparability, the Company previously expected to deliver the high end of its Adjusted Net Income(1) range of $360 million to $410 million, Adjusted Diluted EPS(1) range of $2.45 to $2.85, and Adjusted EBITDA including unconsolidated joint ventures(1) range of $840 million to $910 million."