Lamb Weston Holdings, Inc. Files 10-Q for Period Ending February 25, 2024

TL;DR

<b>Lamb Weston Holdings, Inc. filed its Q3 2024 10-Q report on April 4, 2024, detailing financial performance for the period ending February 25, 2024.</b>

AI Summary

Lamb Weston Holdings, Inc. (LW) filed a Quarterly Report (10-Q) with the SEC on April 4, 2024. Lamb Weston Holdings, Inc. filed a 10-Q report for the period ending February 25, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on May 26th. The filing was submitted on April 4, 2024. Lamb Weston Holdings, Inc. is classified under 'Canned, Frozen & Preserved Fruit, Veg & Food Specialties'.

Why It Matters

For investors and stakeholders tracking Lamb Weston Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for Lamb Weston Holdings, Inc., crucial for understanding the company's operational health and market position. The detailed financial information within the report allows for analysis of revenue trends, profitability, and balance sheet strength, informing investment decisions.

Risk Assessment

Risk Level: low — Lamb Weston Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Monitor future filings for detailed financial results and management commentary to assess performance against expectations.

Key Numbers

• 2024-02-25 — Period of Report (Conformed Period of Report)
• 2024-04-04 — Filed As Of Date (Filed As Of Date)
• 0526 — Fiscal Year End (Fiscal Year End)
• 2024 — Fiscal Quarter (2024 Q3)

Key Players & Entities

• Lamb Weston Holdings, Inc. (company) — Filer
• 2024-02-25 (date) — Period of report
• 2024-04-04 (date) — Filed as of date
• 2024-02-25 (date) — Fiscal period end
• 2024-02-25 (date) — Fiscal period end
• 2023-02-26 (date) — Fiscal period end
• 2023-02-26 (date) — Fiscal period end
• 2024-02-25 (date) — Fiscal period end

FAQ

Industry Context

Lamb Weston Holdings, Inc. operates in the food processing industry, specifically focusing on frozen potato products and other specialty food items.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Compare the reported financial metrics against previous periods and industry benchmarks.
3. Monitor any subsequent events or disclosures that may impact the company's financial standing.

Key Dates

• 2024-02-25: End of Fiscal Q3 2024 — Reporting period end for the 10-Q filing.
• 2024-04-04: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 10-Q filing for the period ending February 25, 2024. Previous filings would provide comparative data.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value LW New York Stock Exchange

Filing Documents

• lw-20240225.htm (10-Q) — 1008KB
• lw-20240225xex3113q24.htm (EX-31.1) — 10KB
• lw-20240225xex3123q24.htm (EX-31.2) — 10KB
• lw-20240225xex3213q24.htm (EX-32.1) — 4KB
• lw-20240225xex3223q24.htm (EX-32.2) — 4KB
• lw-20240225_g1.jpg (GRAPHIC) — 5KB
• 0001679273-24-000021.txt (&nbsp;) — 5520KB
• lw-20240225.xsd (EX-101.SCH) — 37KB
• lw-20240225_cal.xml (EX-101.CAL) — 90KB
• lw-20240225_def.xml (EX-101.DEF) — 125KB
• lw-20240225_lab.xml (EX-101.LAB) — 494KB
• lw-20240225_pre.xml (EX-101.PRE) — 326KB
• lw-20240225_htm.xml (XML) — 781KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) Consolidated Statements of Earnings 3 Consolidated Statements of Comprehensive Income 4 Consolidated Balance Sheets 5 Consolidated Statements of Stockholders' Equity 6 Consolidated Statements of Cash Flows 7 Condensed Notes to Consolidated Financial Statements (Unaudited) 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

Part II. OTHER INFORMATION 30 Item 1

Legal Proceedings

Legal Proceedings 30 Item 1A

Risk Factors

Risk Factors 30 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3 Defaults Upon Senior Securities 31 Item 4 Mine Safety Disclosures 31 Item 5 Other Information 31 Item 6 Exhibits 32 Signature 33 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

ITEM 1. FINANCIAL STATEMENTS (Unaudited) Lamb Weston Holdings, Inc. Consolidated Statements of Earnings (unaudited, in millions, except per share amounts) Thirteen Weeks Ended Thirty-Nine Weeks Ended February 25, 2024 February 26, 2023 February 25, 2024 February 26, 2023 Net sales $ 1,458.3 $ 1,253.6 $ 4,855.7 $ 3,655.7 Cost of sales 1,054.6 855.8 3,476.9 2,603.0 Gross profit 403.7 397.8 1,378.8 1,052.7 Selling, general and administrative expenses 179.8 131.5 526.0 357.6 Income from operations 223.9 266.3 852.8 695.1 Interest expense, net 35.7 25.8 95.5 76.4 Income before income taxes and equity method earnings 188.2 240.5 757.3 618.7 Income tax expense 43.1 42.1 179.3 152.6 Equity method investment earnings (loss) 1.0 ( 23.3 ) 17.8 44.0 Net income $ 146.1 $ 175.1 $ 595.8 $ 510.1 Earnings per share: Basic $ 1.01 $ 1.22 $ 4.11 $ 3.54 Diluted $ 1.01 $ 1.21 $ 4.09 $ 3.53 Weighted average common shares outstanding: Basic 144.5 144.0 145.0 144.0 Diluted 145.3 144.8 145.8 144.7 See Condensed Notes to Consolidated Financial Statements. 3 Table of Contents Lamb Weston Holdings, Inc. Consolidated Statements of Comprehensive Income (unaudited, in millions) Thirteen Weeks Ended February 25, 2024 Thirteen Weeks Ended February 26, 2023 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Net income $ 189.2 $ ( 43.1 ) $ 146.1 $ 217.2 $ ( 42.1 ) $ 175.1 Other comprehensive income (loss): Unrealized pension and post-retirement benefit obligations loss ( 0.1 ) — ( 0.1 ) — — — Unrealized currency translation gains (losses) ( 17.1 ) 0.1 ( 17.0 ) 8.4 0.1 8.5 Other ( 0.2 ) 0.1 ( 0.1 ) 0.1 — 0.1 Comprehensive income $ 171.8 $ ( 42.9 ) $ 128.9 $ 225.7 $ ( 42.0 ) $ 183.7 Thirty-Nine Weeks Ended February 25, 2024 Thirty-Nine Weeks Ended February 26, 2023 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Net income $ 775.1 $

View Full Filing

View this 10-Q filing on SEC EDGAR