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Keeley Teton Comments on Lamb Weston

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Oct 22, 2021
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Lamb Weston (

LW, Financial) produces and distributes value-added frozen potato products, most notably Frenchfries, to a variety of customers, including quick-service restaurants, sit-down restaurants, and foodservice operators. Despite rebounding sales, the stock was weak in the third quarter after Lamb Weston cited input cost inflation, higher transportation costs and elevated packaging costs as likely pressuring earnings going forward. The hot weather in the summer of 2021 also sparked concerns about a softer upcoming potato crop, which would lead to higher potato costs for Lamb Weston. The company plans to combat higher costs through a series of price increases, which should fully take effect by the end of the year.

From Keeley Small-Mid Cap Value Fund's third-quarter 2021 commentary.

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