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Lamb Weston Holdings, Inc. (Symbol: LW) is a leading global supplier of frozen potato, sweet potato, appetizer, and vegetable products. With a history spanning over 60 years, the company has consistently been at the forefront of innovation in the frozen potato industry.
Headquartered in Eagle, Idaho, Lamb Weston's manufacturing operations are primarily located in the Pacific Northwest, particularly in the Columbia River Basin, recognized as one of the world’s premier potato-growing regions. This strategic location supports their commitment to quality and sustainability.
Lamb Weston boasts an extensive product portfolio that includes French fries, sweet potato fries, tater tots, diced potatoes, mashed potatoes, hash browns, and chips. The company's products are available in over 100 countries worldwide, with North America accounting for nearly 70% of its revenue. Notably, McDonald's stands as their largest customer, contributing to 13% of fiscal 2023 sales.
Since becoming an independent entity in 2016 following its spin-off from Conagra, Lamb Weston has maintained a robust financial condition and achieved significant milestones. The company employs over 6,000 people globally, working across sales offices, manufacturing plants, and corporate offices.
Lamb Weston’s commitment to innovation is evident through their continuous introduction of inventive products designed to meet the evolving needs of their customers, which include restaurants and retailers. This dedication has cemented their position as North America's largest and the world's second-largest producer of branded and private-label frozen potato products.
Recent achievements and current projects reflect Lamb Weston's strategic focus on expanding their market reach and enhancing product quality. Through strategic partnerships and investments in state-of-the-art manufacturing technologies, the company aims to drive growth and maintain its leadership in the frozen potato industry.
Lamb Weston Holdings, Inc. (NYSE: LW) announced a 14% increase in its quarterly dividend, now set at
Lamb Weston Holdings, Inc. (NYSE: LW) is set to announce its fiscal Q2 2023 financial results on January 5, 2023, at approximately 8:30 a.m. EST. A conference call will follow at 10:00 a.m. EST for discussion and analysis. U.S. participants can join by calling 888-394-8218, while international participants can dial +1-323-994-2093 with conference ID 2903271. The call will also be available for live streaming online and accessible for rebroadcast on January 6, 2023, post 2:00 p.m. EST.
Lamb Weston (NYSE: LW) announced a definitive agreement to acquire the remaining equity interests in its European joint venture with Meijer Frozen Foods B.V. for €700 million, consisting of €525 million in cash and €175 million in common stock. This acquisition aims to enhance Lamb Weston’s manufacturing capabilities across Europe, the Middle East, and Africa, and is expected to close in the second half of fiscal 2023, subject to regulatory approvals. The transaction will consolidate Lamb-Weston/Meijer’s operations, which generated approximately €954 million in net sales in fiscal 2022.
Lamb Weston Holdings reported a strong first quarter FY 2023 with net sales up 14% to $1,126 million, driven by pricing actions despite a 5% volume decline due to softer restaurant traffic. Net income surged 678% to $232 million, resulting in a diluted EPS increase of 700% to $1.60. Adjusted metrics also saw substantial growth, with Adjusted Net Income rising 315% to $108 million. The company reaffirmed its full-year outlook, projecting net sales between $4.7 billion and $4.8 billion and diluted EPS of $3.30 to $3.70.
The Board of Directors of Lamb Weston Holdings (NYSE: LW) declared a quarterly dividend of $0.245 per share, payable on December 2, 2022. Stockholders of record as of the close of business on November 4, 2022 will receive this dividend. The company, a leading supplier of frozen potato products, continues its tradition of innovation, enhancing offerings for restaurants and retailers worldwide.
Lamb Weston Holdings, Inc. (NYSE: LW) will announce its fiscal first quarter 2023 financial results on October 5, 2022, at approximately 8:30 a.m. ET. A conference call to discuss these results will follow at 10:00 a.m. ET, with access available via phone and online. The call can be joined from the U.S. and Canada by dialing 888-204-4368, or +1-323-994-2093 for international participants.
A rebroadcast of the call will be available after 2 p.m. ET on October 7, 2022.
Lamb Weston Holdings (NYSE: LW) announced plans to expand its french fry processing capacity by constructing a new facility in Mar del Plata, Buenos Aires, Argentina. The company is increasing its stake in its South American joint venture from 50% to 90%. The new facility aims to produce over 200 million pounds of frozen products annually to serve the $2 billion South American market, adding approximately 250 jobs. The $240 million investment is expected to be completed by mid-2024, enhancing production capacity alongside an existing facility in Buenos Aires.
Lamb Weston reported Q4 2022 net sales of $1,153 million, up 14% year-over-year. Income from operations increased 38% to $136 million, while net income fell 51% to $32 million. Adjusted net income rose 45% to $95 million, leading to an adjusted diluted EPS of $0.65, up 48%. For the full year, net sales rose 12% to $4,099 million, though income from operations declined 6%. The outlook for FY 2023 anticipates net sales between $4.7 billion and $4.8 billion and diluted EPS of $2.45 to $2.85.
The Board of Directors of Lamb Weston Holdings (NYSE: LW) has declared a quarterly dividend of
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