Lamb Weston’s Q3 report ‘better than feared,’ says JPMorgan

Lamb Weston (LW) reported a Q3 EPS beat of 12c, driven by stronger-than-expected North American performance that offset international weakness, interest expense, and tax benefits, JPMorgan tells investors in a research note. The company, whose report was “better than feared,” narrowed and raised the midpoint of its annual EBITDA guidance, reflecting a stabilizing North American market and well-understood international pressures, with shares showing volatility despite a constructively received print, the firm says. JPMorgan retains a Neutral rating on the shares.