Lamb Weston sees FY24 EPS $4.95-$5.40, consensus $5.01

Sees FY24 revenue $6.7B-$6.9B, consensus $6.79B. Sees FY24 adjusted EBITDA $1.45B-$1.53B. The company said, “We begin fiscal 2024 with good business momentum and believe our annual financial targets are prudent when accounting for the ongoing inflationary environment, including higher raw potato costs in each of our growing areas, and softening casual and full-service restaurant traffic in the near term as our customers and consumers continue to face challenging macro headwinds. For fiscal 2024, in addition to the incremental sales from the recently-acquired European operations, we expect to deliver solid sales growth, largely driven by pricing actions and favorable mix, and earnings growth that reflects expected improvements in performance in both our legacy Lamb Weston and European operations. Despite continuing inflationary and macro headwinds, global frozen potato demand has proven resilient, and we remain confident in the health and long-term growth prospects for the category. We are committed to investing in our people, global production capacity, and operations, and believe that we will continue to be well-positioned to support our customers, drive sustainable, profitable growth, and create value for our stakeholders.”