Lamb Weston reports Q2 adjusted EPS $1.28, consensus 74c

Reports Q2 revenue $1.28B, consensus $1.15B. "We delivered strong top and bottom-line results in the quarter," said Tom Werner, President and CEO. "Because of our financial performance in the first half of fiscal 2023 and our broad operating momentum, we have raised our annual sales, gross margin and earnings targets. We expect the continued implementation of pricing actions to counter higher input and potato costs to drive our financial results in the second half, while our volume performance will continue to be affected by supply chain constraints and inflationary pressures on consumers."