Lamb Weston Q3 EPS $0.73 +62% YoY; raises FY gross margin outlook to 19-20%

Lamb Weston Holdings, Inc.

2022-Q3 EPS reported $1.16 revenue$2,945,800,000

Net income $106.6M, up 61% YoY; diluted EPS $0.73 vs $0.45.
Net sales $955M, +7% (price/mix +12%, volume -5%); Foodservice +34%, Retail -12%.
FY 2022 gross margin outlook raised to 19-20% from prior 18-20%.
Capex reduced to ~$325M from $450M due to timing of expansion projects.
Returned $84.3M to shareholders: $34.3M dividends, $50M share repurchases.

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