earnings
confidence high
sentiment negative
materiality 0.80
Lamb Weston Q1 EPS $0.20 (-67% YoY); cuts FY2022 outlook, margins pressured through year
Lamb Weston Holdings, Inc.
2022-Q1 EPS reported
$0.20
revenue$984,200,000
- Net sales up 13% to $984M, but income from operations down 56% to $60.2M; diluted EPS $0.20 vs $0.61.
- Adjusted EBITDA including JVs down 39% to $123.4M; foodservice volume up 35% but retail down 15%.
- FY2022 outlook: net income and EBITDA pressured; gross margins to remain below pre-pandemic levels; no longer expects H2 recovery.
- Reduced capex guidance to ~$450M from $650-700M; effective tax rate cut to ~22%.
- Returned $60.4M to shareholders: $34.4M dividends and $26.0M share repurchases (avg price $65.86).