Lamb Weston’s Restructuring Costs Eat Into Profit
Lamb Weston logged lower profit in its fiscal first quarter, though sales edged higher, as the company continued working to cut costs and improve working capital.
The french-fry maker on Tuesday posted a profit of $64.3 million, or 46 cents a share, for its quarter ended Aug. 24. That compares with earnings of $127.4 million, or 88 cents a share, in the same period last year.
Stripping out certain one-time items, adjusted earnings were 74 cents a share. Analysts polled by FactSet expected...
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