other material
confidence high
sentiment positive
materiality 0.70
Lamb Weston sets long-term targets, boosts buyback by $500M at Investor Day
Lamb Weston Holdings, Inc.
- Long-term targets: net sales growth low-to-mid single digits, EBITDA growth mid-to-high single digits, EPS growth high single digits.
- Reaffirms FY2024 outlook: net sales $6.8-7.0B, adjusted diluted EPS $5.50-5.95, adjusted EBITDA $1.54-1.62B.
- Board increases share repurchase authorization to $500M (includes ~$124M remaining); no expiration date.
- Targets dividend payout ratio of 25-35% of net income; returned >$1.2B to shareholders since 2016.
- Positions as #1 frozen potato company in North America and #2 globally; highlights innovation and global footprint.