Lamb Weston Holdings Inc experienced a significant drop in its stock value, with a -11.5% decrease pre-market and further falling -12.7% following the release of its Q3 earnings report, which missed expectations by 25 cents. The company's CEO attributed the disappointing results to the impact of transitioning to a new enterprise resource planning (ERP) system and a decrease in restaurant traffic. Consequently, Lamb Weston has revised its annual sales and earnings guidance downwards. The earnings report revealed a diluted EPS of $1.01, marking a 17% decrease from the previous year, and an adjusted diluted EPS of $1.20, an 18% year-over-year decline. Despite these challenges, the company's revenue saw a 16% increase, reaching $1.46 billion, while its operating income fell by 16% to $224 million.