lamb weston reported higher sales in its fiscal fourth quarter and issued an upbeat outlook for the next 12 months as it continues to raise prices here is what you need to know profit the potato products company reported a profit of 4988 million or 340 a share for the three months ended may 28 compared with 320 million or 22 cents a share in the same period last year stripping out onetime items including a pershare tax benefit of 218 adjusted earnings came to 122 topping analysts expectations of 104 a share sales revenue climbed 47 to 169 billion including a 3809 million boost from the companys acquisition of the remaining stake of joint ventures in europe and argentina analysts surveyed by factset were expecting sales of 166 billion outlook lamb weston issued its fiscal2024 outlook for earnings of 495 a share to 540 a share on sales of 67 billion to 69 billion analysts surveyed by factset were expecting fiscal 2024 earnings of 500 a share on sales of 679 billion the company expects sales excluding the benefit of acquisitions of its former joint ventures to grow by 65 to 85 mostly due to price increases pricing lamb weston like its peers has been raising prices aggressively for much of the past year to offset rising costs in the fourth quarter hiigher prices and a more profitable mix of products sold boosted sales by 24 while sales volumes dropped by 10 as customers balked at price increases the company expects higher pricing to power sales growth over the next 12 months too and expects volumes to be under pressure stock investors sent shares of lamb weston nearly 4 higher after the company demonstrated its confidence in its pricing power write to will feuer at willfeuerwsjcom