The graph for the previous four days shows that the stock of Lamb Weston Holdings has been move stagnantly since October 1. However, today it is sharply dropped from $62.32 to $56.90 by losing 9%. By now, it swiftly rebounded to $60.49. By the way, this morning, the Company published its fiscal first quarter 2022 results. In 2021 net sales increased 13% to $984 million.
In addition, income from operations declined 56% to $60 million. Net income declined 67% to $30 million. The diluted EPS declined 67% to $0.20 from $0.61. Adjusted EBITDA including unconsolidated joint ventures(1) declined 39% to $123 million. Also, it returned $60 million of cash to stockholders, including $34 million in dividends and $26 million in share repurchases. The Company has about $144 million left following the current $250 million share buyback permit.