Lamb Weston Holdings, Inc. (LW) Earnings
Lamb Weston Holdings, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $0.61. LW has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +21.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 1, 2026 | $0.63 | $0.72 | +15.0% | $1.6B | +4.6% |
| Dec 19, 2025 | $0.64 | $0.69 | +7.1% | $1.6B | +1.7% |
| Sep 30, 2025 | $0.55 | $0.74 | +35.8% | $1.7B | +2.6% |
| Apr 3, 2025 | $0.87 | $1.10 | +26.4% | $1.5B | -4.5% |
| Dec 19, 2024 | $1.05 | $0.66 | -37.1% | $1.6B | -4.2% |
| Jul 24, 2024 | $1.26 | $0.78 | -38.1% | $1.6B | -5.3% |
| Apr 4, 2024 | $1.45 | $1.20 | -17.2% | $1.5B | -11.6% |
| Jan 4, 2024 | $1.41 | $1.45 | +2.8% | $1.7B | +1.9% |
| Oct 5, 2023 | $1.08 | $1.63 | +50.9% | $1.7B | +2.8% |
| Jul 25, 2023 | $1.05 | $1.22 | +16.2% | $1.7B | +2.3% |
| Apr 6, 2023 | $0.99 | $1.43 | +44.4% | $1.3B | -24.2% |
| Jan 5, 2023 | $0.74 | $1.28 | +73.0% | $1.3B | +11.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · April 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Mike thanked the team for hard work and noted solid performance in third quarter, updated fiscal 2026 outlook with tighter guidance range. • Focus2Win strategy in place, including strengthening customer partnerships, achieving executional excellence, and setting pace for innovation. • North America business saw 12% volume growth and 5% net sales growth. • International business faced challenges due to market environment, with actions taken like closing plant in Argentina and curtailing production in Netherlands. • Developed and executed focused win strategy, set $250 million cost savings target by fiscal year-end 2028, already delivered $100 million in fiscal 2026. • New executive chair and incoming CFO, refreshed board with new members. • Strengthening customer partnerships through US commercial go-to-market strategy, executional excellence with agile supply chain, and innovation with grown in Idaho brand.
Guidance
• Net sales expected in range of 6.45 to 6.55 billion, adjusted EBITDA in range of 1.08 to 1.14 billion including Middle East conflict risk. • North America expects high single-digit volume growth in second half with additional week of sales in fourth quarter. • International full-year volumes still expected to grow but second half to see year-over-year declines due to lapping strong last year and Middle East conflict pressure. • Price mix in fourth quarter to remain unfavorable, adjusted gross margin expected to decline seasonally, adjusted SG&A to benefit from cost savings initiatives. • Full year tax rate expected at ~28%, full year depreciation and amortization now ~395 million vs prior ~390 million.
Segment performance
North America: Net sales increased 5%, volume increased 12% due to customer wins, share gains, and strong retention; price mix declined 7%. International: Net sales declined 1% at constant currency, volume declined 2% due to softer demand in key markets and excess international capacity; price mix declined 7% at constant currency.
Risks & headwinds
• International market environment with significant potato surplus in Europe, local sourcing in developing regions affecting exports, persistently lower restaurant traffic. • Middle East conflict potentially impacting volumes, commodities volatility, and inventories. • Excess international capacity remaining a factor. • Input costs excluding raw potatoes increased due to tariffs, edible oils, fuel power, water, labor, and transportation costs.
Analyst Q&A
Q: Asks about utilization rates in US and international business, pricing environment in Europe.
A: In North America, utilization in low 90s with curtailed lines ramped back up; in international, actions taken on production lines. Pricing in Europe affected by capacity imbalance, slower demand, and potato crop.
Q: Asks about North America price mix, reduced CapEx guidance.
A: Expect price mix pressure into fiscal 27, reduced CapEx due to disciplined decision-making with some environmental capitals still needed.
Q: Asks about North America top line, volume trajectory, inflation and cost outlook.
A: Focus on customer partnerships, volume flow through, no additional raw write-offs anticipated.
Q: Asks about North America competitors, supply chain footprints.
A: Can't speak to competitors but winning with customers.
Q: Asks about potato write-off in Europe, North America portfolio management.
A: Adjustments in raw procurement in Europe, prioritizing markets and channels with new executive.
Q: Asks about North America utilization rate, international competitors.
A: Most curtailed lines restarted in North America, pace of industry capacity curtailments slowed.
Q: Asks about cost savings program, portfolio management.
A: On track to exceed $250 million target, prioritizing markets and channels with new executive assessing businesses.
Q: Asks about Mideast conflict and costs.
A: Impact depends on conflict length/severity, risks include lower volumes, commodities volatility, hedging program in place to reduce price risk