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Lamb Weston Holdings, Inc. (LW) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, May 29, 2022

Lamb Weston Holdings, Inc.

HISTORY TOOLS
CIK: 1679273 Ticker: LW

Exhibit 99.1

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Graphic

News Release

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For more information, please contact:

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Investors:

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Dexter Congbalay

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224-306-1535

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dexter.congbalay@lambweston.com

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Media:

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Shelby Stoolman

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208-424-5461

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shelby.stoolman@lambweston.com

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Lamb Weston Reports Fiscal Fourth Quarter and Full Year 2022 Results; Provides Fiscal Year 2023 Outlook

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Fourth Quarter Fiscal 2022 Highlights

●Compared to Fourth Quarter Fiscal 2021:
oNet sales increased 14% to $1,153 million
oIncome from operations increased 38% to $136 million
oNet income decreased 51% to $32 million; Adjusted Net Income(1) increased 45% to $95 million
oDiluted EPS decreased 50% to $0.22 from $0.44; Adjusted Diluted EPS(1) increased 48% to $0.65
oAdjusted EBITDA including unconsolidated joint ventures(1) increased 21% to $202 million

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Full Year 2022 Highlights

●Compared to Full Year Fiscal 2021:
oNet sales increased 12% to $4,099 million
oIncome from operations decreased 6% to $444 million
oNet income decreased 37% to $201 million; Adjusted Net Income(1) decreased 4% to $304 million
oDiluted EPS decreased 36% to $1.38 from $2.16; Adjusted Diluted EPS(1) decreased 4% to $2.08
oAdjusted EBITDA including unconsolidated joint ventures(1) decreased 3% to $726 million
oCash flows from operations declined 24% to $418 million
●Capital Returned to Shareholders:
oPaid $138 million in cash dividends
oRepurchased $151 million of common stock

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Fiscal 2023 Outlook

●Net sales of $4.7 billion to $4.8 billion
●Net income of $360 million to $410 million
●Diluted EPS of $2.45 to $2.85
●Adjusted EBITDA including unconsolidated joint ventures(1) of $840 million to $910 million

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EAGLE, ID (July 27, 2022) – Lamb Weston Holdings, Inc. (NYSE: LW) announced today its fiscal fourth quarter and full year 2022 results and provided its outlook for fiscal 2023.

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“We finished the year on a strong note, including a record high sales quarter fueled by double-digit growth in each of our core segments. Our fiscal 2022 performance is a testament to the strength and dedication of the entire Lamb Weston team,” said Tom Werner, President and CEO. “Benefits from our pricing actions, productivity, simplification, and cost mitigation efforts continued to build through the year as we managed increases in input and transportation costs, constraints in global logistics networks, and the impact of a historically poor potato crop. Our sales volumes throughout the year also held up well despite volatile consumer demand and supply chain disruptions.”

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“We enter this new fiscal year with strong underlying fundamentals and business momentum, and believe our financial targets of strong sales growth and continued improvement in profitability in fiscal 2023 are prudent in light of the current

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The following information was filed by Lamb Weston Holdings, Inc. (LW) on Wednesday, July 27, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Lamb Weston Holdings, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Commitments, Contingencies, Guarantees And Legal Proceedings
Commitments, Contingencies, Guarantees And Legal Proceedings (Tables)
Commitments, Contingencies, Guarantees And Legal Proceedings - Capital Commitments (Details)
Commitments, Contingencies, Guarantees And Legal Proceedings - Guarantees (Details)
Commitments, Contingencies, Guarantees And Legal Proceedings - Purchase Obligations - Additional Information (Details)
Commitments, Contingencies, Guarantees And Legal Proceedings - Purchase Obligations - Tabular Disclosure (Details)
Debt And Financing Obligations
Debt And Financing Obligations (Tables)
Debt And Financing Obligations - Aggregate Minimum Principal Maturities (Details)
Debt And Financing Obligations - General Information (Details)
Debt And Financing Obligations - Interest Paid (Details)
Debt And Financing Obligations - Other Credit Facilities (Details)
Debt And Financing Obligations - Tabular Disclosure - Components (Details)
Debt And Financing Obligations - Tabular Disclosure - Current And Noncurrent (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities (Details)
Earnings Per Share - Tabular Disclosure (Details)
Employee Benefit Plans And Other Post-Retirement Benefits
Employee Benefit Plans And Other Post-Retirement Benefits (Tables)
Employee Benefit Plans And Other Post-Retirement Benefits - Actuarial Assumptions (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Change In Benefit Obligation (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Changes In Plan Assets (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Changes In Plan Assets And Benefit Obligations (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Components Of Net Periodic Benefit Cost (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Components Of Net Periodic Benefit Cost And Other Comprehensive (Income) Loss - Additional Information (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Components Of Net Periodic Benefit Cost And Other Comprehensive (Income) Loss - Tabular Disclosure (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Condensed Combined And Consolidated Balance Sheets (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Fair Value Measurements Of Plan Assets - Investment Policy (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Fair Value Measurements Of Plan Assets - Redeemable Notice (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Fair Value Measurements Of Plan Assets - Tabular Disclosure (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Funding And Cash Flows - Contributions (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Funding And Cash Flows - Estimated Benefit Payments (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Health Care Cost Trend Rate Assumptions (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Other Plans - Deferred Compensation Savings Plan (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Other Plans - Defined Contribution Plan (Details)
Employee Benefit Plans And Other Post-Retirement Benefits - Underfunded Status (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Activities (Details)
Equity Method Investments - Additional Information (Details)
Equity Method Investments - Agreement - Equity Method Investee Information (Details)
Equity Method Investments - Agreement - Related Party Information (Details)
Equity Method Investments - Carrying Amounts (Details)
Equity Method Investments - Consolidated Entities (Details)
Equity Method Investments - Impairment (Details)
Equity Method Investments - Receivables (Details)
Equity Method Investments - Summarized Financial Information - Additional Information (Details)
Equity Method Investments - Summarized Financial Information - Balance Sheet (Details)
Equity Method Investments - Summarized Financial Information - Income Statement (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Debt Outstanding (Details)
Fair Value Measurements - Fair Value Hierarchy (Details)
Goodwill And Other Identifiable Intangible Assets
Goodwill And Other Identifiable Intangible Assets (Tables)
Goodwill And Other Identifiable Intangible Assets - Amortization Expense (Details)
Goodwill And Other Identifiable Intangible Assets - Amortizing Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets - Carrying Amount Of Goodwill (Details)
Goodwill And Other Identifiable Intangible Assets - Estimated Intangible Assets Amortization Expense (Details)
Goodwill And Other Identifiable Intangible Assets - Impairment Testing (Details)
Goodwill And Other Identifiable Intangible Assets - Other Identifiable Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets - Weighted Average Useful Life (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Income Taxes - Consolidated Balance Sheets (Details)
Income Taxes - Deferred Income Taxes - Deferred Tax Assets (Details)
Income Taxes - Deferred Income Taxes - Deferred Tax Liabilities (Details)
Income Taxes - Deferred Income Taxes - Net Operating Loss Carryforwards (Details)
Income Taxes - Deferred Income Taxes - Tax Credit Carryforwards (Details)
Income Taxes - Deferred Income Taxes - Valuation Allowance (Details)
Income Taxes - Income Taxes Paid (Details)
Income Taxes - Pre-Tax Income (Loss), Inclusive Of Equity Method Investment Earnings (Details)
Income Taxes - Provision For Income Taxes (Details)
Income Taxes - Reconciliation Of Income Tax Expenses - Additional Information (Details)
Income Taxes - Reconciliation Of Income Tax Expenses - Statutory Rates (Details)
Income Taxes - Reconciliation Of Income Tax Expenses - Tabular Disclosure (Details)
Income Taxes - Uncertain Tax Positions - Additional Information (Details)
Income Taxes - Uncertain Tax Positions - Changes In Unrecognized Tax Benefits (Details)
Leases
Leases (Tables)
Leases - Accumulated Amortization (Details)
Leases - Assets And Liabilities (Details)
Leases - Finance Leases - Discount To Present Value (Details)
Leases - Finance Leases - Maturities Of Lease Liabilities (Details)
Leases - Lease Costs (Details)
Leases - Lease Term (Details)
Leases - Operating Leases - Discount To Present Value (Details)
Leases - Operating Leases - Maturities Of Lease Liabilities (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted-Average Remaining Lease Term And Discount Rate (Details)
Nature Of Operations And Summary Of Significant Accounting Policies
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies (Tables)
Nature Of Operations And Summary Of Significant Accounting Policies - Advertising And Promotion (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Basis Of Presentation (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Foreign Currency (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - General Information (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Inventories (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Leased Assets (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Property, Plant And Equipment - Components (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Property, Plant And Equipment - Depreciation Expense (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Property, Plant And Equipment - Interest Capitalized (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Property, Plant And Equipment - Purchases In Accounts Payable (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Property, Plant And Equipment - Useful Lives (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Recently Issued Accounting Pronouncements Not Yet Adopted (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Reportable Segments (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Research And Development (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Sales Incentives And Trade Promotion Allowances (Details)
Nature Of Operations And Summary Of Significant Accounting Policies - Unbilled Receivables (Details)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Segments
Segments (Tables)
Segments - Concentrations (Details)
Segments - Debt (Details)
Segments - Equity Method Investment Impairment (Details)
Segments - General Information (Details)
Segments - Labor (Details)
Segments - Other Information - Net Sales By Geographical Area (Details)
Segments - Other Information - Net Sales By Product (Details)
Segments - Tabular Disclosure (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Compensation Expense (Details)
Stock-Based Compensation - General Information (Details)
Stock-Based Compensation - Restricted Stock Unit And Performance-Based Restricted Stock Unit - Activity (Details)
Stock-Based Compensation - Restricted Stock Unit And Performance-Based Restricted Stock Unit - Additional Information (Details)
Stock-Based Compensation - Restricted Stock Unit And Performance-Based Restricted Stock Unit - General Information (Details)
Stock-Based Compensation - Unrecognized Compensation Expense (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details)
Stockholders' Equity - Common And Preferred Stock (Details)
Stockholders' Equity - Dividends Declared (Details)
Stockholders' Equity - Dividends Paid (Details)
Stockholders' Equity - Share Repurchase Program (Details)
Ticker: LW
CIK: 1679273
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-011121
Submitted to the SEC: Wed Jul 27 2022 2:09:53 PM EST
Accepted by the SEC: Wed Jul 27 2022
Period: Sunday, May 29, 2022
Industry: Canned Frozen And Preservd Fruit Veg And Food Specialties

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