Lamb Weston raises FY24 adjusted EPS view to $5.50-$5.95 from $4.95-$5.40

Consensus $5.35. Raises FY24 revenue view to $6.8B-$7B from $6.7B-$6.9B, consensus $6.83B. The company said, “We raised our earnings target for the year to reflect our performance in the quarter, as well as the current solid demand and pricing environment. We continue to expect the potato crop in our growing regions in North America will be in line with historical averages, and we believe the overall crop in Europe has improved compared to earlier predictions as a result of better growing conditions. The integration of our EMEA operations and our capacity expansions also remain on track, including the start-up of our facility in China this month. With these investments, along with our strategic efforts to improve the capabilities and flexibility of our global production network and operations, we believe that we are well-positioned to continue to serve our customers and drive sustainable, profitable growth over the long term.”