Lamb Weston Hold Stock Price, News & Analysis

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.

Lamb Weston Holdings (NYSE: LW) has announced plans to expand its french fry processing capacity in China, investing approximately $250 million in a new facility in Ulanqab, Inner Mongolia. This facility will produce over 250 million pounds of frozen potato products annually and create around 280 full-time jobs. The expansion reflects Lamb Weston’s commitment to the growing Chinese market. Additionally, the company declared a quarterly dividend of $0.235 per share, payable on June 4, 2021, to stockholders of record as of May 7, 2021.

Lamb Weston Holdings (NYSE: LW) will announce its fiscal Q3 2021 financial results on April 7, 2021, with a news release scheduled for 8:30 a.m. EDT. A conference call will follow at 10 a.m. EDT, where management will discuss the results. Interested parties can participate by calling the appropriate numbers or accessing the call online. Additionally, a rebroadcast will be available on April 8, 2021, after 2 p.m. EDT. Lamb Weston is a leading supplier of frozen vegetable products, known for innovation and quality in the food industry.

Lamb Weston Holdings (NYSE: LW) has promoted John Hatto to Senior Vice President of Strategy & Growth, effective January 25, 2021. Hatto brings over 30 years of food and beverage industry experience, having recently served as Vice President of Sales for the Foodservice Business Unit at Lamb Weston. He has been instrumental in driving growth since joining the company in 2015. CEO Tom Werner expressed confidence in Hatto's ability to lead the company's long-term strategic and growth initiatives.

Lamb Weston Holdings (NYSE: LW) reported Q2 2021 results with net sales of $896.1 million, down 12% year-over-year, primarily due to a 14% decline in volume linked to COVID-19 restrictions. Income from operations decreased 28% to $139.6 million, while net income fell 31% to $96.9 million, reflecting higher manufacturing costs. Despite near-term pressures, the company anticipates improved restaurant traffic this year as vaccine distribution progresses. Lamb Weston announced a 2% dividend increase and plans to resume its share repurchase program, reaffirming confidence in its long-term outlook.