Lamb Weston Holdings, Inc.

Listed Company

LWCIK 0001679273NYSELarge AcceleratedCanned, Frozen & Preservd Fruit, Veg & Food SpecialtiesDelawareFY ends May 31

Period

FY 2025

Revenue

—

Net Income

$357.20M

Total Assets

$7.39B

Equity

$1.74B

Shares Out

138.07M

Op. Cash Flow

$868.30M

Business

Lamb Weston Holdings, Inc. is a leading global producer, distributor, and marketer of value-added frozen potato products. It offers frozen potato products—predominantly French fries—along with commercial ingredients and appetizers sold under the Lamb Weston name and various licensed and customer brands. The company has two reportable segments, North America and International, and uses company-owned production facilities, co‑packing arrangements, and joint ventures for manufacturing. It sells to quick‑service and full‑service restaurant chains, foodservice distributors, retailers and non‑commercial channels in over 100 countries through internal sales teams, brokers, distributors and warehouse distribution centers.

Summary from filing dated 2025-07-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Net sales	6,451	6,468	5,351	4,099	3,671
Cost of sales	5,053	4,701	3,919	3,267	2,839
Gross profit	1,399	1,767	1,432	832	832
Selling, general and administrative expenses	634	701	550	388	357
Restructuring expense	100	0	0	—	—
Income from operations	665	1,065	882	444	475
Interest expense, net	180	136	109	161	118
Income before income taxes and equity method earnings	485	930	773	283	357
Income tax expense	143	230	225	72	91
Equity method investment earnings	15	26	461	−11	52
Net income	357	726	1,009	201	318
Basic (in dollars per share)	2.51	5.01	6.98	1.38	2.17
Diluted (in dollars per share)	2.5	4.98	6.95	1.38	2.16
Basic (in shares)	142	145	145	146	146
Diluted (in shares)	143	146	145	146	147

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash and cash equivalents	71	71	305	525	784
Receivables, net of allowances of $0.9 and $0.9	782	744	724	447	—
Inventories	1,035	1,139	932	574	514
Prepaid expenses and other current assets	145	136	166	113	118
Total current assets	2,033	2,090	2,127	1,660	1,782
Property, plant and equipment, net	3,688	3,583	2,808	1,579	1,524
Operating lease assets	113	133	146	119	142
Goodwill	1,090	1,060	1,041	318	335
Intangible assets, net	114	105	110	34	37
Other assets	355	396	288	173	80
Total assets	7,393	7,367	6,520	4,140	4,209
Short-term borrowings	371	326	159	—	—
Current portion of long-term debt and financing obligations	78	56	55	32	32
Accounts payable	616	834	637	403	359
Accrued liabilities	411	408	510	264	227
Total current liabilities	1,476	1,624	1,360	699	618
Long-term debt and financing obligations, excluding current portion	3,683	3,441	3,248	2,696	2,705
Deferred income taxes	254	256	252	173	160
Other noncurrent liabilities	243	258	248	212	246
Total long-term liabilities	4,179	3,955	3,748	3,080	3,111
Commitments and contingencies	—	—	—	—	—
Common stock of $1.00 par value, 600,000,000 shares authorized; [xxx,xxx,xxx] and 150,735,397 shares issued	151	151	150	148	148
Treasury stock, at cost, 12,152,507 and 7,068,741 common shares	−838	−541	−314	−264	−104
Additional distributed capital	−479	−509	−559	−813	−837
Retained earnings	2,849	2,700	2,161	1,306	1,245
Accumulated other comprehensive income (loss)	55	−13	−27	−16	30
Total stockholders equity	1,738	1,788	1,411	361	481
Total liabilities and stockholders equity	7,393	7,367	6,520	4,140	4,209

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation and amortization of intangibles and debt issuance costs	408	307	223	192	188
Stock-settled, stock-based compensation expense	40	47	39	21	21
Gain on acquisition of investments in joint ventures	0	0	−426	0	—
Equity method investment (earnings) loss, net of distributions	12	−16	−36	30	−33
Deferred income taxes	600,000	−1	400,000	14	4
Blue chip swap transaction gains	−21	−18	0	—	—
Other	−5	25	2	−7	11
Receivables	−22	−15	−54	−76	−21
Inventories	113	−203	−125	−63	−22
Income taxes payable/receivable, net	−10	20	−12	12	−3
Prepaid expenses and other current assets	10	10	2	−7	−5
Accounts payable	2	37	83	17	105
Accrued liabilities	−14	−119	57	32	−9
Net cash provided by operating activities	868	798	762	419	553
Additions to property, plant and equipment	−638	−930	−654	−290	−147
Additions to other long-term assets	−34	−62	−82	−16	−16
Acquisition of interests in joint venture, net	0	0	−610	0	—
Acquisition of business, net of cash acquired	0	−11	0	0	—
Proceeds from blue chip swap transactions, net of purchases	21	18	0	—	—
Other	3	200,000	6	−4	800,000
Net cash used for investing activities	−648	−984	−1,341	−311	−163
Proceeds from short-term borrowings	1,739	1,075	57	0	—
Repayments of short-term borrowings	−1,696	−910	−15	—	—
Proceeds from issuance of debt	525	592	530	1,676	—
Repayments of debt and financing obligations	−277	−401	−33	−1,698	−306
Dividends paid	−207	−174	−146	−138	−135
Repurchase of common stock and common stock withheld to cover taxes	−294	−225	−52	−158	−36
Other	−15	−5	200,000	−5	2
Net cash used in financing activities	−225	−48	341	−363	−974
Effect of exchange rate changes on cash and cash equivalents	4	500,000	18	−3	3
Net decrease in cash and cash equivalents	−700,000	−233	−220	−259	−581

Filings

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