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Lamb Weston Holdings, Inc. supplies frozen potato products to restaurants and retailers around the world, with a portfolio anchored by french fries and related potato offerings such as sweet potato fries, tater tots, diced potatoes, mashed potatoes and hash browns. News about LW commonly centers on fiscal results, sales volume and price/mix trends, North America and international demand, customer wins, operating efficiency programs, capital expenditures and dividend declarations.
Company updates also include investor conference participation, shareholder engagement, board and executive compensation actions, and NYSE-required announcements for employment inducement equity awards. Recent disclosures have also addressed manufacturing footprint decisions and cost-reduction initiatives tied to its global frozen potato supply chain.
Lamb Weston (LW) has officially opened its new production facility in Kruiningen, The Netherlands, on November 7, 2024. The expansion increases the company's annual production capacity by 195 million kilos of frozen potato products. The new state-of-the-art facility employs approximately 120 new workers, bringing the total Kruiningen site workforce to 650 employees. The plant features sustainable technologies for efficient raw material use, water purification and reuse, and heat optimization to reduce emissions. This expansion, planned over five years ago, aims to meet growing global demand for frozen potato products while maintaining environmental responsibility.
Lamb Weston reported Q1 fiscal 2025 results with net sales declining 1% to $1,654 million and net income falling 46% to $127 million. The company announced a restructuring plan expected to generate $55 million in pre-tax cost savings in fiscal 2025 and reduce capital expenditures by $100 million. Key actions include closing a facility in Washington, curtailing production in North America, and reducing the global workforce by 4%.
Lamb Weston updated its fiscal 2025 outlook, reaffirming net sales of $6.6-$6.8 billion but reducing GAAP net income target to $395-$445 million and Diluted EPS target to $2.70-$3.15. The company is targeting the low-end of its Adjusted EBITDA range of $1,380-$1,480 million and reduced its Adjusted Net Income target to $600-$615 million.
Lamb Weston Holdings (NYSE: LW) has announced a quarterly dividend of $0.36 per share of common stock. The dividend will be payable on Nov. 29, 2024, to stockholders of record as of the close of business on Nov. 1, 2024. This decision was made by the company's Board of Directors, demonstrating their commitment to returning value to shareholders.
The announcement of a regular dividend payment can be seen as a positive sign of the company's financial health and confidence in its future prospects. It provides a steady income stream for investors and may attract those seeking dividend-yielding stocks.
Lamb Weston Holdings, Inc. (NYSE: LW) has appointed Norman Prestage to its Board of Directors, effective immediately. Prestage, a former partner at Ernst & Young, LLP, retired in June 2024 and will also serve on the Board's Audit and Finance Committee. With extensive experience advising consumer goods and foodservice companies, Prestage is expected to contribute significantly to Lamb Weston's growth strategies and shareholder value creation.
During his career at Ernst & Young, which began in 1987, Prestage served as the global client service partner for large global public companies in various industries. He held leadership roles including Retail and Consumer Products Industry Leader for the Midwest and Arkansas Office Managing Partner. Prestage, a certified public accountant, holds a Bachelor of Business Administration from the University of Notre Dame.
Lamb Weston Holdings, Inc. (NYSE: LW) has announced the details for its fiscal year 2025 first quarter earnings release. The company will report its results on Tuesday, October 1, 2024, with the news release expected at approximately 5:30 p.m. EDT. A conference call to discuss the results is scheduled for Wednesday, October 2, 2024, at 10:00 a.m. EDT.
Participants can join the call by dialing specific numbers for U.S./Canada and international callers. The conference ID is 3993446. A live webcast will also be available, and participants can register online. A rebroadcast of the conference call will be accessible on Thursday, October 3, 2024, after 2:00 p.m. EDT through the company's investor relations website.
Lamb Weston Holdings, Inc. (NYSE: LW) has announced the appointment of Sylvia Wilks as its new Chief Supply Chain Officer. Wilks, with over 30 years of supply chain experience in various industries, will lead the company's global supply chain operations, including manufacturing, procurement, engineering, and continuous improvement.
Wilks joins Lamb Weston from REI, where she served as their first Chief Supply Chain Officer, implementing strategies that reduced costs and improved service levels. Her previous experience includes supply chain leadership roles at TireHub , Kimberly-Clark , and Starbucks
Mike Smith, Chief Operating Officer at Lamb Weston, expressed confidence in Wilks' ability to bring valuable expertise to the team, particularly in food and beverage manufacturing and customer-centric focus.
Lamb Weston Holdings (NYSE: LW) reported disappointing Q4 FY2024 results with net sales declining 5% to $1,612 million. For the full year FY2024, net sales increased 21% to $6,468 million, including $1,107 million from acquisitions. The company faced challenges including market share losses, softening restaurant traffic, and a voluntary product withdrawal.
Key financial highlights for FY2024:
- Net income declined 28% to $726 million
- Adjusted EBITDA increased 13% to $1,417 million
- Diluted EPS declined 28% to $4.98
For FY2025, Lamb Weston expects net sales of $6.6-$6.8 billion and Adjusted EBITDA of $1,380-$1,480 million. The company anticipates a challenging year ahead due to global restaurant traffic softening and supply-demand imbalances in North America and Europe.
Lamb Weston Holdings (NYSE: LW), a leading potato products company, has announced a quarterly dividend of $0.36 per share of common stock. The dividend will be paid on August 30, 2024, to stockholders of record at the close of business on August 2, 2024. This announcement demonstrates Lamb Weston's commitment to returning value to shareholders and reflects the company's financial stability. The consistent dividend payout suggests confidence in the company's future cash flow and operational performance.
Lamb Weston Holdings (NYSE: LW) has released its fifth annual Global Sustainability Report for fiscal year 2023. This comprehensive report consolidates the newly integrated operations in Europe, the Middle East, and Africa, following an acquisition in February 2023. Key highlights include the company's progress in three main areas: People, Food, and Planet. The report details initiatives focused on team member development, community wellbeing, responsible production of high-quality potato products, and environmental sustainability through regenerative agricultural programs and efficient manufacturing processes. New long-term sustainability targets are also set, along with a final update on the previously reported 2030 goals.
Lamb Weston Holdings (NYSE: LW) will release its fiscal 2024 Q4 and full-year financial results on July 24, 2024, at 8:30 a.m. EDT. A conference call to discuss these results will follow at 10:00 a.m. EDT. U.S. and Canadian participants can dial 888-204-4368, while international participants should use 1-323-794-2551, with the conference ID 4529601. The call will also be streamed live online, and a rebroadcast will be available on July 25, 2024, after 2:00 p.m. EDT at Lamb Weston's investor relations website.