Short answer
Lamb Weston (LW) filed its fiscal 2026 10-K annual report with the SEC on Jul 24, 2026. It reported revenue of $6.6B (+2.5% year over year) and net income of $290M.
- Top risk flagged: FDA and EFSA acrylamide regulations risk raising manufacturing costs due to potential stricter global food safety limits
FY2026 key financial metrics · XBRL
- Revenue
- $6.6B
- +2.5% YoY
- Net income
- $290M
- −18.8% YoY
- Operating margin
- 8.9%
- −1.4 pp YoY
- Gross margin
- 20.6%
- −1.1 pp YoY
- EPS (diluted)
- $2.08
- −16.8% YoY
- ROE
- 15.9%
- −4.7 pp YoY
- Operating cash flow
- $943M
- +8.6% YoY
Source: XBRL data from the Lamb Weston (LW) FY2026 10-K on SEC EDGAR. USD.
Lamb Weston FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Leading global producer and marketer of value-added frozen potato products, primarily French fries, with distribution in over 100 countries
- New leadership: Jan E.B. Craps appointed Executive Chair in Feb 2026; Michael J. Smith as CEO since Jan 2025; addition of Chief Strategy and Technology Officer in July 2026
- Strategic shift: Full consolidation of European joint venture Lamb-Weston/Meijer v.o.f. in 2023, expanding international presence and control
- Quantitative highlights: Approximately 10,000 employees as of July 2026, with 3,000 outside the U.S.; top 10 customers represent 50% of net sales; largest customer McDonald's at ~15% of sales
- Noteworthy fact: Ongoing labor contract negotiations covering 74% of unionized hourly workers set to expire within 12 months, impacting workforce stability
Management Discussion & Analysis
- Revenue $6,612.3M, up 2% YoY ($161M increase), North America +3% ($130M), International +1% ($31M), FX contributed $123.1M favorable impact
- Adjusted EBITDA $1,147.2M, down 9% YoY ($112.8M decrease); North America segment Adj. EBITDA up 3% to $1,142.3M, International segment Adj. EBITDA down 55% to $114.7M
- Best performing: North America segment $4,395.2M sales (+3%) with $1,142.3M Adj. EBITDA (+3%); Worst performing: International segment $2,217.1M sales (+1%) with $114.7M Adj. EBITDA (−55%)
- Operating cash flow $942.9M (+$74.6M YoY), CapEx $410.1M (down $240.6M YoY), dividends paid $207.5M, share repurchases $113.2M (2.3M shares at $48.28/share)
- Fiscal 2027 outlook: flat to slight sales growth, low single-digit volume growth, low single-digit price/mix decline, earnings growth expected to outpace sales, CapEx ~$380-410M, operating cash flow $750-800M
Risk Factors
- FDA and EFSA acrylamide regulations risk raising manufacturing costs due to potential stricter global food safety limits
- Middle East conflicts since Feb 2026 caused shipping disruptions, increasing volatility in commodity/transportation markets and input costs
- Dependency on single Canadian facility and limited co-packers poses supply chain risk if disruptions or contracting difficulties arise
- Key competitive threat from local sourcing in developing regions (Middle East, China, India) reducing European export market share
- High leverage with $3.9B debt as of May 31, 2026 restricts cash flow flexibility and risks covenant default under credit agreements
Generated from the filing text; verify against the original. How to read a 10-K
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