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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 reported a 13% increase in net sales to $984 million for Q1 FY 2022. However, income from operations dropped 56% to $60 million, and net income fell by 67%, resulting in diluted EPS of $0.20.
Challenges included extreme summer heat affecting potato crops and inflationary pressures on costs, leading to lower gross margins. Despite these challenges, they aim for sales growth above long-term targets, although net income and adjusted EBITDA are expected to face continued pressure throughout FY 2022.
The Board of Directors of Lamb Weston Holdings (NYSE: LW) has declared a quarterly dividend of $0.235 per share, set to be paid on December 3, 2021, to shareholders on record as of November 5, 2021. Lamb Weston is a leading supplier of frozen potato and vegetable products, known for over 70 years of innovation in the industry. The company focuses on enhancing customer experiences through inventive products that streamline operations.
Lamb Weston Holdings (NYSE: LW) is set to announce its first quarter 2022 financial results on October 7, 2021, at approximately 8:30 a.m. EDT. Following the release, a conference call will be held at 10 a.m. EDT for discussion. Participants can join via phone or through a live internet stream. A rebroadcast will be available the next day after 2 p.m. EDT. Lamb Weston is a key player in the frozen potato and vegetable products market, continuously innovating for its customers.
Lamb Weston Holdings reported a strong fiscal Q4 2021, with net sales reaching $1,007.5 million, a 19% increase year-over-year. Income from operations surged 220% to $98.9 million, driven by a 13% volume increase. However, the full fiscal year showed a 3% decline in net sales to $3,670.9 million. Despite challenges from supply chain disruptions and inflation, the company anticipates a gradual recovery in demand and expects fiscal 2022 sales growth above its long-term target. Diluted EPS stood at $0.44 for Q4 and $2.16 for the full year.
Lamb Weston announced the expansion of its french fry processing capacity in American Falls, Idaho, which will produce over 350 million pounds of frozen products annually. This $415 million investment will create 130 new jobs and modernize the facility built in 1961. The company also declared a quarterly dividend of $0.235 per share, payable on September 3, 2021, to shareholders of record by August 6, 2021. This move aligns with Lamb Weston's confidence in the global french fry market and complements its upcoming projects in China and Russia.
Lamb Weston Holdings, Inc. (NYSE: LW) will announce its fiscal Q4 and fiscal 2021 financial results on July 27, 2021, at approximately 8:30 a.m. EDT. The company will host a conference call to discuss these results at 10 a.m. EDT on the same day. U.S. participants can dial 800-430-8332, while international participants should use +1-323-289-6581 with conference ID 6192753. A replay of the call will be available starting July 28, 2021.
Lamb Weston is a key supplier of frozen potato products globally, with over 70 years in the industry.
Lamb Weston (NYSE: LW) announced the retirement of CFO Robert McNutt effective August 6, 2021. He will be succeeded by Bernadette Madarieta, the current Vice President and Controller. McNutt was praised for his leadership during the COVID-19 pandemic and his contributions to the company's growth. Madarieta brings over 20 years of finance experience to her new role and has been with Lamb Weston since its spin-off from Conagra in 2016. The company positions itself well to capitalize on the improving global demand for frozen potato products.
Lamb Weston introduces sustainable packaging for its Alexia brand products, incorporating corn and potato starch. This eco-friendly initiative starts this month, aiming to enhance consumer appeal, as over 30% of U.S. consumers prioritize sustainable packaging. The products, including Organic Sweet Potato Fries and Yukon Select Puffs, will be labeled accordingly. The development took two years and aims to reduce carbon emissions significantly, equating to the environmental impact of driving 14,700 miles. The move reflects Lamb Weston’s commitment to sustainability as outlined in their 2020 ESG Report.
Lamb Weston Holdings reported third quarter fiscal 2021 net sales of $895.8 million, a 4% decline year-over-year. Operational income fell 38% to $100.6 million, while net income dropped 41% to $66.1 million. Diluted earnings per share (EPS) decreased to $0.45. The decline was attributed to continued COVID-19 disruptions impacting costs and volumes, particularly in foodservice sectors. Despite challenges, management expects a gradual recovery in frozen potato demand as social restrictions ease, aiming for demand to return to pre-pandemic levels by the end of 2021.
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