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Lamb Weston Holdings, Inc. is a leading global producer, distributor, and marketer of value-added frozen potato products, with French fries representing the majority of their product portfolio . The company operates in two reportable segments: North America and International . In North America, their products are sold to quick service and full-service restaurants, foodservice distributors, non-commercial channels, and retailers, under brands such as Lamb Weston, Grown in Idaho, and Alexia . Internationally, they sell similar products through various channels, including direct sales to restaurant chains and through importers or small local distributors . Lamb Weston has a strong presence in over 100 countries and is the number one supplier of value-added frozen potato products in North America, with a significant presence in high-growth emerging markets .
- French Fries - Produces and markets a wide range of French fries, which are the primary product and major contributor to the company's revenue.
- Frozen Potatoes - Offers a variety of frozen potato products beyond French fries, catering to diverse culinary needs.
- Commercial Ingredients - Supplies potato-based ingredients for use in commercial food production and preparation.
- Appetizers - Provides a selection of frozen appetizers, expanding their product offerings beyond potatoes.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michael J. Smith ExecutiveBoard | President and Chief Executive Officer | None | Joined LW in 2007; held various leadership roles, including COO (2023-2025); became CEO on January 3, 2025. Extensive experience in strategy and operations. | View Report → |
Bernadette M. Madarieta Executive | Chief Financial Officer | None | Joined LW in 2016; became CFO in August 2021. Over 25 years of finance leadership experience. | |
Eryk J. Spytek Executive | General Counsel and Chief Compliance Officer | None | Joined LW in 2016; oversees legal and compliance functions; previously served as Corporate Secretary. | |
Marc Schroeder Executive | President, International | None | Joined LW in 2023; former CEO of LW EMEA and Pepsi Lipton; extensive global leadership experience in food and beverage. | |
Sharon L. Miller Executive | President, North America | None | Joined LW in 2016; promoted to President, North America in 2023; extensive experience in sales and leadership in food manufacturing. | |
Steven J. Younes Executive | Chief Human Resources Officer | None | Joined LW in 2022; over 30 years of HR and employment law experience; previously CHRO at Loews Hotels. | |
Norman Prestage Board | Director | None | Former partner at Ernst & Young; expertise in consumer products and foodservice industries. | |
Peter J. Bensen Board | Director | CarMax, Inc. (Board Member); President of Bensen LLC | Former CFO and Chief Administrative Officer of McDonald’s; expertise in financial reporting and governance. | |
Rita Fisher Board | Director | Reynolds Consumer Products (CIO and EVP, Supply Chain) | CIO and EVP at Reynolds; former global IT and supply chain leader at Kraft Heinz. | |
Robert A. Niblock Board | Director | ConocoPhillips (Board Member); PNC Financial Services Group (Board Member) | Former Chairman and CEO of Lowe’s Companies; extensive leadership and financial expertise. | |
W.G. Jurgensen Board | Chairman of the Board | None | Chairman of LW since 2017; former CEO of Nationwide Financial Services; extensive experience in financial services and corporate governance. |
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Given the ongoing challenging restaurant traffic trends and your recent capacity reductions, can you elaborate on how you plan to balance supply and demand if industry demand remains weak over the next year? Are further capacity adjustments anticipated?
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You've announced a restructuring plan to improve operating efficiency and protect profitability, including reducing your adjusted SG&A target. Could you provide more specifics on where these cost savings will come from, and how they might impact your operations and future growth initiatives?
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With the anticipated increase in your effective tax rate due to a higher proportion of income from your International segment and other discrete items, how confident are you in achieving your updated adjusted EBITDA and EPS targets in this challenging environment?
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Regarding the estimated $500 million in environmental capital expenditures over the next five years for wastewater capital investments, can you provide more details on what is driving these costs, how they will impact your free cash flow, and whether there are opportunities to mitigate or offset these expenses?
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As you have idled certain production lines due to lower demand, how are you managing the fixed cost deleverage, and what impact do you expect this to have on your gross margins in both the short term and if the demand environment doesn't improve in the long term? Do you have potential to further mitigate fixed cost deleverage beyond the incremental cost savings announced for next year?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Agristo NV | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Aviko B.V. | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Cavendish Farms Corporation | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Clarebout Potatoes NV | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Farm Frites International B.V. | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
J.R. Simplot Company | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. | |
McCain Foods Limited | Significant competitor in the highly competitive value-added frozen potato products industry in North America, Europe, and other international markets. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Lamb-Weston/Meijer v.o.f. (LW EMEA) | 2023 | Completed on February 28, 2023, Lamb Weston acquired the remaining 50% equity interest for a total consideration of $1,447.5 million (comprising cash of €531.6 million, 1,952,421 shares valued at $197.3 million, and non-cash consideration of $51.8 million) to become the sole owner. The deal added five manufacturing facilities (plus a 75% interest in a sixth facility) that produce nearly 2 billion pounds of finished frozen products annually, further supporting Lamb Weston’s strategic expansion in the EMEA region. |
Lamb Weston Alimentos Modernos S.A. (LWAMSA) | 2023 | Lamb Weston increased its stake from 50% to 90% by acquiring an additional 40% equity interest for $42.3 million in cash, leading to consolidation of LWAMSA’s financials into its Global segment starting in the first quarter of fiscal 2023. This acquisition, aimed at expanding operations in Argentina, had a limited impact on consolidated net sales and total assets while supporting strategic growth. |
Recent press releases and 8-K filings for LW.
- Q3 2025 Performance: GAAP net sales increased $1,520M (~4% growth) with 9% volume growth, income from operations at $249M and flat net income of $146M .
- Non-GAAP Highlights: Adjusted EBITDA grew by 6% to $364M and adjusted income from operations reached $263M .
- Fiscal 2025 Guidance: Reaffirmed outlook with net sales of $6.35B–$6.45B and adjusted EBITDA of $1.17B–$1.21B, alongside targeting pre-tax savings of $55M in FY25 and $85M in FY26 .
- Strategic Turnaround: CEO Mike Smith unveiled a broad value creation plan focused on operational efficiency and restructuring with support from AlixPartners .
- Liquidity & Leverage: Strong liquidity at approximately $1.1B, net debt of $4.2B and a 3.4x leverage ratio on a trailing twelve-month basis .
- Shareholder Returns: Executed significant share repurchases and returned $151M to shareholders, complemented by a $0.37 per share dividend for Q3 .
- Additional Boosters: Performance was further supported by volume recovery post-ERP transition and new customer contract wins .