earnings
confidence high
sentiment negative
materiality 0.80
Lamb Weston Q2 EPS down 67%; FY22 gross margin outlook cut to 18-20%
Lamb Weston Holdings, Inc.
2022-Q2 EPS reported
$0.42
revenue$1,990,800,000
- Net sales up 12% to $1.01B; net income down 66% to $32.5M; diluted EPS $0.22 vs $0.66.
- Adjusted diluted EPS down 24% to $0.50; adjusted EBITDA down 15% to $180.9M.
- Global segment sales +9%; Foodservice +30%; Retail +1%; margins declined in Global and Retail.
- Refinanced $1.7B debt, recognized $53.3M loss on extinguishment ($0.28/share after-tax).
- FY22 gross margin now 18-20% (previous 17-21%); cites cost inflation, labor shortages, poor potato harvest.