Q1 2026 Lamb Weston Holdings Inc Earnings Call Transcript
Key Points
- Lamb Weston Holdings Inc (LW) delivered first-quarter results that exceeded expectations, showcasing strong commercial momentum.
- The company reported strong volume growth across both segments, driven by customer wins and retention, particularly in North America and Asia.
- Lamb Weston Holdings Inc (LW) is implementing a strategic plan, 'Focus to Win,' aiming for $250 million in annual run rate savings by fiscal year end 2028.
- The company is launching new innovative products this fall, including flavor-forward offerings and expanding its licensed brands.
- Lamb Weston Holdings Inc (LW) is restarting a curtailed production line in response to sustained volume growth in North America, indicating strong demand.
- Net sales were essentially flat, with a slight decline on a constant currency basis, indicating challenges in maintaining revenue growth.
- Price mix declined 7% in North America, primarily due to lower net selling prices and unfavorable channel product mix.
- The international segment faces competitive pressures, particularly in Europe and Latin America, affecting price mix and profitability.
- Adjusted gross profit declined due to unfavorable price mix, despite higher sales volume and cost savings initiatives.
- The company anticipates low-single-digit inflation in the second quarter, which may impact margins, along with additional startup expenses and factory burden absorption related to the new Argentina plant.
Please stand by. We are about to begin.
Ladies and gentlemen, good day and welcome to the Lamb Weston first-quarter 2026 earnings call.
Today's conference is being recorded.
At this time, I'd like to turn the conference over to Debbie Hancock, Vice President of Investor Relations. Please go ahead.
Good morning and thank you for joining us for Lamb Weston's first-quarter fiscal '26 earnings call. I'm Debbie Hancock, Lamb Weston's Vice President of Investor Relations.
Earlier today, we issued our press release and posted slides that we will use for our discussion today. You can find both on our website, lambweston.com.
Please note that during our remarks, we will make forward-looking statements about the company's expected performance that are based on our current expectations. Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors contained in our SEC filings for
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