Lamb Weston Hold Stock Price, News & Analysis

Lamb Weston Holdings reported robust fiscal Q3 2023 results, with net sales reaching $1,254 million, a 31% increase year-over-year. Net income surged 64% to $175 million, driving diluted EPS up 66% to $1.21. Adjusted metrics also showed significant growth, with adjusted net income up 125% to $207 million and adjusted diluted EPS increasing 127% to $1.43. The company anticipates net sales for fiscal 2023 to fall between $5.25 billion and $5.35 billion, up from prior estimates. However, challenges such as rising costs for raw materials and consumer demand fluctuations due to inflation remain concerns. Despite this, the leadership expresses confidence in the company’s long-term growth prospects.

The Board of Directors of Lamb Weston Holdings (NYSE: LW) declared a quarterly dividend of $0.28 per share. This dividend is payable on June 2, 2023, to stockholders of record by the close of business on May 5, 2023. Lamb Weston is a prominent supplier of frozen potato and vegetable products, recognized for its innovation and quality over more than 70 years in the industry.

Lamb Weston Holdings, Inc. (NYSE: LW) will announce its fiscal third quarter 2023 financial results on April 6, 2023, at approximately 8:30 a.m. EDT. A conference call to discuss the results will follow at 10:00 a.m. EDT. U.S. and Canadian participants can join at 877-502-9276, while international participants should dial +1-313-209-4906, using conference ID 7608560. The call will also be accessible online. A rebroadcast will be available on April 7, 2023, after 2:00 p.m. EDT.

Lamb Weston Holdings, Inc. (NYSE: LW) has completed its acquisition of the remaining equity interests in its European joint venture with Meijer Frozen Foods B.V. The transaction is valued at €525 million in cash and includes 1,952,421 shares of Lamb Weston common stock. Following this acquisition, Lamb Weston now owns 100% of Lamb-Weston/Meijer, previously a 50/50 joint venture. This move adds five manufacturing facilities in Europe, significantly boosting production capacity to nearly two billion pounds of frozen products annually. The financial results of Lamb-Weston/Meijer will be fully consolidated into Lamb Weston's statements moving forward.

Lamb Weston Holdings reported robust second quarter fiscal 2023 results, highlighting a 27% increase in net sales to $1,277 million and a 217% rise in net income to $103 million. Diluted EPS surged 223% to $0.71. Adjusted results also reflected impressive growth with Adjusted EBITDA rising 92% to $335 million. The company has raised its fiscal 2023 outlook, projecting net sales between $4.8 billion and $4.9 billion. Despite strong financial performance, challenges include supply chain constraints and inflation affecting volume in the second half.

Lamb Weston Holdings, Inc. (NYSE: LW) announced a 14% increase in its quarterly dividend, now set at $0.28 per share, reflecting its commitment to returning cash to shareholders. The dividend is scheduled for payment on March 3, 2023, with a record date of Feb. 3, 2023. CEO Tom Werner emphasized that this move aligns with the company's capital allocation strategy, which focuses on both shareholder returns and investments in business growth through expansions and acquisitions while maintaining a robust balance sheet.

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.