Lamb Weston Q3 net sales +31% to $1.25B, adj. EPS $1.43; raises FY guidance

Lamb Weston Holdings, Inc.

2023-Q3 EPS reported $3.53 revenue$3,655,700,000

Q3 net sales $1,253.6M (+31% YoY); income from operations $266.3M (+99%); diluted EPS $1.21 (+66%).
Adjusted diluted EPS $1.43 (+127% YoY); adjusted EBITDA $345.5M (+72%).
Raised FY2023 outlook: net sales $5.25-5.35B, adj. diluted EPS $4.35-4.50, adj. EBITDA $1,180-1,210M.
Acquired remaining 100% of LW EMEA for €531.6M cash + 1.95M shares; consolidation begins Q4.
Returned $35.2M in dividends and $12.2M in share repurchases in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lamb Weston Holdings, Inc. reported fiscal third quarter 2023 results: revenue $1,254 million, net income $175 million, EPS $1.21. Guidance raised.

Period: fiscal third quarter 2023
Revenue: $1,254 million
Net income: $175 million
EPS: $1.21
Guidance: raised
Result: reported results

Exact text from the filing

Updates Fiscal Year 2023 Outlook Third Quarter Fiscal 2023 Highlights ● GAAP Results as Compared to Third Quarter Fiscal 2022: o Net sales increased 31% to $1,254 million o Income from operations increased 99% to $266 million o Net income increased 64% to $175 million o Diluted EPS increased 66% to $1.21 ● Non-GAAP Results as Compared to Third Quarter Fiscal 2022: o Adjusted Income from Operations (1) increased 96% to $262 million o Adjusted Net Income (1) increased 125% to $207 million o Adjusted Diluted EPS (1) increased 127% to $1.43 o Adjusted EBITDA including unconsolidated joint ventures (1) increased 72% to $346 million ● Paid $35 million in cash dividends and repurchased $12 million of common stock Updated Fiscal 2023 Outlook ● Updated financial targets include the consolidation of the European joint venture in the fiscal fourth quarter ● Net sales of $5.25 billion to $5.35 b

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Source: SEC EDGAR

accession 0001558370-23-005527

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