Lamb Weston Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended November 27, 2017. For the quarter, the company's net sales were $824.6 million compared with $790.7 million a year ago. Income from operations was $139.8 million compared with $125.5 million a year ago. Income before income taxes and equity method earnings was $112.4 million compared with $118.7 million a year ago. Net income attributable to the company was $76.6 million or $0.52 per diluted share compared with $87.2 million or $0.59 per diluted share a year ago. Adjusted income from operations was $143.8 million compared with $134.5 million a year ago. Adjusted EBITDA including unconsolidated joint ventures increased 12% to $189 million. Diluted EPS was $0.52, compared with $0.59 in second quarter 2017. Adjusted Diluted EPS was $0.54, compared with $0.63 in second quarter 2017. Adjusted net Income attributable to the company was $79.1 million or $0.54 diluted per share compared to $92.9 or $0.63 diluted per share a year ago. Adjusted EBITDA was $178.3 million compared to $160.9 a year ago.

For the six months, the company's net sales were $1,642.1 million compared with $1,567.0 million a year ago. Income from operations was $277.4 million compared with $250.5 million a year ago. Income before income taxes and equity method earnings was $224.8 million compared with $242.2 million a year ago. Net income attributable to the company was $160.0 million or $1.08 per diluted share compared with $166.8 million or $1.13 per diluted share a year ago. Net cash provided by operating activities was $182.2 million compared with $162.4 million a year ago. Additions to property, plant and equipment was $154.0 million compared with $127.8 million a year ago. Adjusted EBITDA including unconsolidated joint ventures was $380.3 million. Adjusted Diluted EPS was $1.11. Adjusted income from operations was $283.6 million compared to $269.2 million a year ago. Adjusted net Income attributable to the company was $163.9 million or $1.11 diluted per share compared to $178.6 or $1.21 diluted per share a year ago. Adjusted EBITDA was $347.9 million compared to $321.0 a year ago.

The company has updated its outlook for fiscal 2018. The company's net sales Net sales expected to increase mid-single digits, up from a previous estimate of low-to-mid single digits Adjusted EBITDA including unconsolidated joint ventures expected to be $780 million-$790 million, up from a previous estimate of $740 million-$760 million. Interest expense was $105 million-$110 million which is an increase of approximately $45 million to $50 million from fiscal 2017 due to the full-year impact of the Company's capital structure after the spinoff from Conagra Cash used for capital expenditures approximately $250 million for fiscal 2018, an increase of $25 million versus the previous estimate of $225 million. This increase primarily relates to costs associated with the initial phase of construction of a new production line at company Hermiston, Oregon facility.