Lamb Weston Holdings (LW) Company Report

Volume up 8% in Q2 (7% H1), driving net sales +1% (flat on a constant-currency basis) amid share gains and customer wins.
Adjusted EBITDA of $286 M, down $9 M YoY, as cost‐savings initiatives offset an 8% unfavorable price-mix impact.
North America: volume +8%, EBITDA +7% to $288 M; International: volume +7% but EBITDA declined to $27 M.
Ended Q2 with $1.43 B liquidity, net debt $3.6 B (3.1× leverage), and generated $530 M cash from operations and $375 M free cash flow in H1.
Returned capital with $40 M share repurchase, a 3% dividend hike to $0.38/share, and reaffirmed FY26 Adjusted EBITDA guidance of $1.0–$1.2 B.

Dec 19, 2025, 3:00 PM

Transcript

Lamb Weston reports Q2 2026 results

Earnings

Share Buyback

Dividends

Net sales rose 1% (flat constant currency) with 8% volume growth and an 8% decline in price/mix.
Adjusted EBITDA was $286 million, down $9 million; North America EBITDA grew 7% to $288 million, while International EBITDA fell $21 million to $27 million.
Free Cash Flow of $375 million in H1 and liquidity of $1.43 billion; repurchased $40 million of shares in Q2 and raised the quarterly dividend by 3% to $0.38 per share.
Reaffirmed Fiscal 2026 guidance, expecting volume growth, moderating price headwinds, and Adjusted EBITDA of $1 billion–$1.2 billion, targeting the midpoint.

Dec 19, 2025, 3:00 PM

Transcript

Lamb Weston reports Q2 2026 results

Earnings

Dividends

Share Buyback

Q2 net sales rose 1%, flat on a constant‐currency basis, with 8% volume growth offset by an 8% Price/Mix decline.
Adjusted EBITDA was $286 million, down $9 million year-over-year.
North America Adjusted EBITDA increased 7% to $288 million, while International EBITDA fell $21 million to $27 million.
Returned over $150 million in H1, including $103 million in dividends and $50 million in share repurchases; raised quarterly dividend 3% to $0.38 per share.
Reaffirmed FY 2026 guidance, maintaining an Adjusted EBITDA target of $1.0–$1.2 billion, with volumes expected to grow and Price/Mix headwinds moderating.

Dec 19, 2025, 3:00 PM

Transcript

Lamb Weston reports Q2 2026 results

Earnings

Dividends

Guidance Update

Lamb Weston reported Q2'26 net sales of $1.618 B, up 1% YoY, driven by an 8% volume increase, offset by an 8% price/mix decline on a constant currency basis.
Adjusted EBITDA declined $9 M to $286 M, with North America EBITDA up $19 M, while International fell $21 M due to competitive pricing and start-up costs at the Argentina facility.
The board approved a 3% increase in the quarterly dividend; the cost savings program is on track with $100 M targeted in FY26.
FY26 guidance was reaffirmed with net sales of $6.35 B–$6.55 B, Adjusted EBITDA of $1.00 B–$1.20 B, and CapEx at $500 M.

Dec 19, 2025, 3:00 PM

Presentation

Lamb Weston reports Q2 fiscal 2026 results and reaffirms outlook

Earnings

Guidance Update

Dividends

In Q2 FY2026, net sales were $1,618.1 million (+1% YoY), net income was $62.1 million (vs. a $36.1 million loss), and diluted EPS was $0.44 (+276% YoY).
Adjusted EBITDA was $285.7 million, down 3% YoY, reflecting lower price/mix and cost savings initiatives.
The Board authorized a 3% increase in the quarterly dividend to $0.38 per share and returned $91.2 million to shareholders through dividends and share repurchases.
Reaffirmed FY 2026 guidance: net sales of $6.35–6.55 billion, Adjusted EBITDA of $1.00–1.20 billion, and capital expenditures of approximately $500 million.

Dec 19, 2025, 1:32 PM

8-K

Lamb Weston reports Q2 FY2026 results

Earnings

Guidance Update

Dividends

Lamb Weston delivered net sales of $1,618.1 million in Q2 FY2026, up 1% YoY, with net income of $62.1 million versus a prior-year loss and diluted EPS of $0.44.
Adjusted EBITDA was $285.7 million, down 3% YoY, and adjusted diluted EPS was $0.69, down 5% YoY.
The Board approved a 3% increase in the quarterly dividend to $0.38 per share, payable February 27, 2026.
Returned $91.2 million to shareholders in Q2, including $39.6 million of share repurchases.
Reaffirmed FY2026 guidance: net sales of $6.35–6.55 billion, adjusted EBITDA of $1.00–1.20 billion, and capital expenditures of approximately $500 million.

Dec 19, 2025, 1:30 PM

Press Release

Lamb Weston Faces Investor Probe Over ERP Rollout Misrepresentations

Legal Proceedings

Bragar Eagel & Squire, P.C. is conducting an investigation into whether Lamb Weston’s board breached fiduciary duties by misrepresenting the design and implementation of its new ERP system between July 25, 2023 and April 3, 2024.
On April 4, 2024, Lamb Weston disclosed ERP‐related disruptions that cost $135 million in net sales, $72 million in net income, and prompted a $330 million cut to full‐year sales guidance, sending the stock down over 19%.
Long‐term stockholders who purchased between July 25, 2023 and April 3, 2024 are encouraged to contact Bragar Eagel & Squire at [email protected] or (212) 355-4648 at no cost or obligation.

Oct 16, 2025, 8:46 PM

Press Release

Lamb Weston opens Mar del Plata, Argentina production facility

New Projects/Investments

Lamb Weston inaugurated a 40,000 m² frozen French fry plant in Mar del Plata, Argentina, with capacity to process 200 million pounds of potatoes annually and produce over 100 varieties of products.
The facility is fully operational, completed its first shipments to Brazil, and will export 80% of output to Brazil and other Latin America markets.
The project created 250 direct jobs, is expected to generate approximately 3,000 indirect jobs, and sources raw materials from more than 100 local producers, using sustainable, low-waste practices.
Management views the new plant as a key strategic asset to expand Lamb Weston’s presence in the Latin America region via the Mar del Plata port.

Oct 7, 2025, 6:35 PM

Press Release

Lamb Weston reports Q1 FY2026 results

Earnings

Guidance Update

Dividends

Lamb Weston delivered flat net sales of $1.659 B, with volume +6% offsetting price/mix -7%, resulting in adjusted EBITDA of $302 M (+1%) and adjusted EPS of $0.74 (-5%).
Generated $273 M free cash flow and $352 M net operating cash flow, returning $62 M to shareholders ($52 M dividends, $10 M repurchases) in Q1.
Capital expenditures were $79 M (down $256 M YoY) as the company shifts from growth spending to modernization and maintenance; FY26 capex forecast ~$500 M.
Reaffirmed FY26 outlook: net sales $6.35 B–$6.55 B, adjusted EBITDA $1.0 B–$1.2 B, interest expense ~$190 M, and tax rate 26–27%.

Sep 30, 2025, 2:00 PM

Presentation

Lamb Weston reports Q1 2026 results

Earnings

Guidance Update

Dividends

Delivered strong volume growth in both segments; cost savings, working capital improvements and reduced capex (down to $79 M) drove strong free cash flow.
Returned $62 M to shareholders in Q1 (including $52 M dividends and $10 M repurchases), with $348 M remaining under buyback authorization.
Restarted a curtailed North America line and began shipping from its Mar del Plata, Argentina facility; preparing to launch innovative retail products this fall.
Reaffirmed fiscal 2026 guidance: revenue of $6.35 B–$6.55 B (constant currency) and $1 B–$1.2 B adj. EBITDA, including a 53rd week and enacted tariffs.

Sep 30, 2025, 2:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Lamb Weston Holdings.

Q2 2026

Dec 19, 2025

→

Q1 2026

Sep 30, 2025

→

Q4 2025

Jul 23, 2025

→

View All Transcripts

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Michael Smith say about margins?What are Lamb Weston Holdings's strategic priorities?How is Lamb Weston Holdings positioned vs competitors?How did Lamb Weston Holdings do last quarter?

Lamb Weston Holdings (LW)

Analyst Earnings Quarterly Reports

Q1 2026

Q4 2025

Q3 2025

Q2 2025

Executives

Michael Smith

Bernadette Madarieta

Eryk Spytek

Marc Schroeder

Sylvia Wilks

Board Members

André Hawaux

Bradley Alford

Hala Moddelmog

Lawrence Kurzius

Norman Prestage

Paul Maass

Peter Bensen

Robert Coviello

Ruth Kimmelshue

Scott Ostfeld

Timothy McLevish

Analyst Coverage

Marc Torrente

Peter Galbo

Carla Casella

Robert Moskow

Alexia Howard

Andrew Lazar

Max Gumport

Scott Marks

Matthew Smith

Thomas Palmer

William Reuter

Kenneth Goldman

Matt Smith

Steve Powers

Tom Palmer

Jacob Henry

Max Andrew Gumport

Robert Dickerson

Adam Samuelson

Stephen Robert Powers

Yasmin Daswani

Latest news

Earnings Transcripts

Q2 2026

Q1 2026

Q4 2025

Ask Fintool AI Agent