Lamb Weston plunges after maintaining annual sales forecast

Shares of frozen fries supplier Lamb Weston LW.N down ~21% at $47 in early trading

Stock set for its worst day in nearly a year, if losses hold

Co maintains annual sales forecast again and posts upbeat Q2 revenue and profit

The reaffirmed forecast despite the quarterly numbers implies a weaker second half of the year than expected, says analysts at Jefferies

Expects net sales to be in the range of $6.35 billion to $6.55 billion

Posts quarterly sales of $1.62 billion vs analysts' estimates of $1.59 billion, as per data compiled by LSEG

But co's second-quarter adjusted gross profit declined $15.6 million to $327.9 million owing to sequential decline in prices as well as higher costs from raw material and manufacturing
Up to last close, stock down nearly 11% YTD