09:04 AM EDT, 07/24/2024 (MT Newswires) -- Lamb Weston Holdings ( LW ) reported fiscal Q4 adjusted earnings Wednesday of $0.78 per diluted share, down from $1.29 a year earlier.

Analysts polled by Capital IQ expected $1.26.

Net sales for the quarter ended May 26 were $1.61 billion, down from $1.69 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.71 billion.

For fiscal 2025, the company said it expects diluted EPS in the range of $4.35 to $4.85. Four analysts polled by Capital IQ expect $6.07. Net sales for the fiscal year are expected to be $6.6 billion to $6.8 billion. Analysts surveyed by Capital IQ expect $6.81 billion.

Shares of the company dropped nearly 17% in recent Wednesday premarket activity.

Price: 65.36, Change: -13.26, Percent Change: -16.87