Welcome to our dedicated page for Lamb Weston Hold news (Ticker: LW), a resource for investors and traders seeking the latest updates and insights on Lamb Weston Hold stock.
Lamb Weston Holdings, Inc. (NYSE: LW) is a supplier of frozen potato and sweet potato products to restaurants and retailers around the world. The Lamb Weston (LW) news page on Stock Titan aggregates company announcements, earnings releases, strategic updates, and other disclosures so investors can follow how the business is evolving over time.
Recent Lamb Weston news has highlighted the company’s Focus to Win strategic plan, which is aimed at improving execution and driving profitable growth, as well as its Cost Savings Program. Earnings releases for fiscal 2025 and fiscal 2026 quarters provide detail on net sales, segment performance in North America and International markets, volume trends, price/mix dynamics, and the impact of cost savings initiatives and manufacturing efficiency. These updates also discuss the use of non-GAAP financial measures such as Adjusted EBITDA and net sales at constant currency.
Operational news includes developments in Lamb Weston’s global manufacturing network. The company has reported the opening of a state-of-the-art frozen potato production facility in Mar del Plata, Argentina to serve Latin America, and later announced plans to close its Munro, Argentina plant and consolidate production into the new facility as part of efforts to improve operating efficiency. Other releases describe temporary curtailments of production lines and the completion of major growth investments in regions such as Argentina, the Netherlands, and the U.S.
Corporate and capital allocation news items cover quarterly dividends on Lamb Weston common stock, dividend increases authorized by the Board of Directors, and share repurchases under the company’s repurchase program. Governance-related news includes information about the annual meeting of stockholders, voting results, and a Cooperation Agreement with certain shareholders that led to changes in the Board’s composition and committee structure.
By reviewing the LW news feed, readers can track how Lamb Weston’s strategy, manufacturing footprint, financial performance, and governance framework are communicated through official press releases and SEC-related announcements.
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Lamb Weston Holdings, Inc. (NYSE: LW) has appointed Mike Smith as Chief Operating Officer, effective May 29, 2023. In this newly created position, Smith will oversee the Commercial, Supply Chain, Agriculture, Marketing, and Innovation sectors, enhancing the company’s integrated operations for future growth. Tom Werner, President and CEO, expressed confidence in Smith’s leadership, noting his track record of driving growth since joining the company in 2007. Smith will also lead key executives Sharon Miller and Marc Schroeder in their new roles. This change aims to unlock efficiencies and support scalable growth opportunities within Lamb Weston, a leading supplier of frozen potato products worldwide.
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.