Lamb Weston (LW) FY2026 10-K Annual Report
Lamb Weston (LW) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Jul 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Lamb Weston FY2026 10-K Analysis
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
Lamb Weston FY2026 Key Financial MetricsXBRL
Revenue
$6.6B
▲ +2.5% YoY
Net Income
$290M
▼ -18.8% YoY
Gross Margin
20.6%
▼ -112bp YoY
Operating Margin
8.9%
▼ -137bp YoY
Net Margin
4.4%
▼ -115bp YoY
ROE
15.9%
▼ -466bp YoY
Total Assets
$7.4B
▼ -0.2% YoY
EPS (Diluted)
$2.08
▼ -16.8% YoY
Operating Cash Flow
$943M
▲ +8.6% YoY
Source: XBRL data from Lamb Weston FY2026 10-K filing on SEC EDGAR. All figures in USD.
Other Lamb Weston Annual Reports
Get deeper insights on Lamb Weston
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.