Lamb Weston Holdings Files Q2 FY25 10-Q
Ticker: LW · Form: 10-Q · Filed: Dec 20, 2024 · CIK: 1679273
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**Lamb Weston (LW) Q2 FY25 10-Q filed. Financials and biz updates out.**
AI Summary
Lamb Weston Holdings, Inc. filed its 10-Q for the period ending November 24, 2024. The filing covers financial results and operational updates for the second quarter of fiscal year 2025. Key financial data and business segments are detailed within the report.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Lamb Weston, a major player in the frozen potato products market.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain any immediately apparent high-risk disclosures.
Key Players & Entities
- Lamb Weston Holdings, Inc. (company) — Filer of the 10-Q
- 20241124 (date) — End of the reporting period
- 20241220 (date) — Date of filing
- 2025 (date) — Fiscal year
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is November 24, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on December 20, 2024.
What is the fiscal year end for Lamb Weston Holdings, Inc.?
The fiscal year end for Lamb Weston Holdings, Inc. is May 25.
What is the Standard Industrial Classification code for Lamb Weston Holdings, Inc.?
The Standard Industrial Classification code for Lamb Weston Holdings, Inc. is 2030 (CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES).
What is the SEC file number for Lamb Weston Holdings, Inc.?
The SEC file number for Lamb Weston Holdings, Inc. is 001-37830.
Filing Stats: 4,749 words · 19 min read · ~16 pages · Grade level 6.5 · Accepted 2024-12-20 10:28:42
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value LW New York Stock Exchange
Filing Documents
- lw-20241124.htm (10-Q) — 1114KB
- lw-20241124xex3112q25.htm (EX-31.1) — 10KB
- lw-20241124xex3122q25.htm (EX-31.2) — 10KB
- lw-20241124xex3212q25.htm (EX-32.1) — 4KB
- lw-20241124xex3222q25.htm (EX-32.2) — 4KB
- lw-20241124_g1.jpg (GRAPHIC) — 5KB
- 0001679273-24-000087.txt ( ) — 6096KB
- lw-20241124.xsd (EX-101.SCH) — 42KB
- lw-20241124_cal.xml (EX-101.CAL) — 89KB
- lw-20241124_def.xml (EX-101.DEF) — 141KB
- lw-20241124_lab.xml (EX-101.LAB) — 532KB
- lw-20241124_pre.xml (EX-101.PRE) — 357KB
- lw-20241124_htm.xml (XML) — 889KB
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 19 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4
Controls and Procedures
Controls and Procedures 30
OTHER INFORMATION
Part II. OTHER INFORMATION 31 Item 1
Legal Proceedings
Legal Proceedings 31 Item 1A
Risk Factors
Risk Factors 31 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 32 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, dollars in millions, except per share amounts) Thirteen Weeks Ended Twenty-Six Weeks Ended November 24, 2024 November 26, 2023 November 24, 2024 November 26, 2023 Net sales $ 1,600.9 $ 1,732.1 $ 3,255.0 $ 3,397.4 Cost of sales 1,323.1 1,256.5 2,621.2 2,422.3 Gross profit 277.8 475.6 633.8 975.1 Selling, general and administrative expenses 184.7 170.0 328.6 346.2 Restructuring expense 74.6 — 74.6 — Income from operations 18.5 305.6 230.6 628.9 Interest expense, net 43.3 29.1 88.5 59.8 Income (loss) before income taxes and equity method earnings ( 24.8 ) 276.5 142.1 569.1 Income tax expense 13.4 66.2 64.2 136.1 Equity method investment earnings 2.1 4.7 13.4 16.8 Net income (loss) $ ( 36.1 ) $ 215.0 $ 91.3 $ 449.8 Earnings (loss) per share: Basic $ ( 0.25 ) $ 1.48 $ 0.64 $ 3.10 Diluted $ ( 0.25 ) $ 1.48 $ 0.64 $ 3.08 Weighted average common shares outstanding: Basic 142.8 144.9 143.2 145.3 Diluted 143.2 145.5 143.7 146.0 See Condensed Notes to Consolidated Financial Statements. 3 Table of Contents Lamb Weston Holdings, Inc. Consolidated Statements of Comprehensive Income (unaudited, dollars in millions) Thirteen weeks ended November 24, 2024 Thirteen weeks ended November 26, 2023 Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Net income (loss) $ ( 22.7 ) $ ( 13.4 ) $ ( 36.1 ) $ 281.2 $ ( 66.2 ) $ 215.0 Other comprehensive income (loss): Unrealized pension and post-retirement benefit obligations loss — — — ( 0.2 ) 0.1 ( 0.1 ) Unrealized currency translation (losses) gains ( 117.8 ) 1.1 ( 116.7 ) 30.5 ( 0.7 ) 29.8 Other ( 0.1 ) — ( 0.1 ) ( 0.2 ) — ( 0.2 ) Comprehensive income (loss) $ ( 140.6 ) $ ( 12.3 ) $ ( 152.9 ) $ 311.3 $ ( 66.8 ) $ 244.5 Twenty-Six Weeks Ended November 24, 2024 Twenty-Six Weeks Ended November 26, 2023 Pre-Tax Amount Tax (E