Frozen potato supplier Lamb Weston forecasts annual results above estimates

• Lamb Weston projected annual revenue growth to be flat to 1%, compared with analysts' estimate of a 2.27% drop.
• The company also sees fiscal 2027 adjusted earnings per share in the range of $2.95 to $3.25, compared with estimate of $3.01.

• Shares of the fries maker, which had gained about 17% this year, were up about 2% in premarket trading.
• "While disruption in the Middle East and input cost inflation have impacted our EMEA (Europe, Middle East and Africa) business, we have been taking actions to help mitigate this volatility in a challenging competitive environment," said CEO Mike Smith.
• Lamb Weston, which counts fast-food operators such as McDonald’s MCD.N and Yum Brands YUM.N among its customers, continues to offer discounts and other incentives.
• Sales in North America, which contributes the majority of revenue, rose 9% to $1.21 billion in the fourth quarter, while international sales declined 2%.
• The company reported a profit of 87 cents per share for the fourth quarter, beating analysts' average estimate of 63 cents per share, according to data compiled by LSEG.
• It posted quarterly revenue of $1.77 billion, above estimates of $1.69 billion.

July 24 (Reuters) - Lamb Weston forecast annual sales and profit above Wall Street estimates on Friday, betting on resilient demand for its frozen potato products in North America despite macroeconomic uncertainty.

Higher fuel and living costs have pushed consumers to make more meals at home to save money, helping sustain demand for the company's products even as restaurant traffic remains under pressure.