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Lamb Weston Holdings, Inc.

CIK:0001679273|SEC Filings

Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 30, 2026	Aug. 24, 2025
Income Statement [Abstract]
Net sales	$ 1,670.3	$ 1,659.3
Cost of sales	1,403.8	1,316.9
Gross profit	266.5	342.4
Selling, general and administrative expenses	170.2	153.6
Cost Savings Program and Restructuring expenses	14.1	32.3
Income from operations	82.2	156.5
Interest expense, net	42.4	43.7
Income before income taxes and equity method earnings	39.8	112.8
Income tax expense	16.9	47.9
Equity method investment earnings (loss)	6.2	(0.6)
Net income	$ 29.1	$ 64.3
Earnings per share:
Basic (in dollars per share)	$ 0.21	$ 0.46
Diluted (in dollars per share)	$ 0.21	$ 0.46
Weighted average common shares outstanding:
Basic (in shares)	137.6	139.5
Diluted (in shares)	138.1	139.8

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Aug. 30, 2026	Aug. 24, 2025
Cash flows from operating activities
Net income	$ 29.1	$ 64.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles and debt issuance costs	100.9	95.3
Stock-settled, stock-based compensation expense	15.1	10.6
Equity method investment (earnings) loss, net of distributions	(3.1)	0.2
Deferred income taxes	(11.9)	14.5
Cost Savings Program and Restructuring expenses	24.1	0.0
Other	11.4	11.6
Changes in operating assets and liabilities:
Receivables	(5.2)	17.6
Inventories	1.5	136.3
Income taxes payable/receivable, net	32.1	22.8
Prepaid expenses and other current assets	34.6	40.2
Accounts payable	59.2	(47.7)
Accrued liabilities	(53.0)	(13.7)
Net cash provided by operating activities	234.8	352.0
Cash flows from investing activities
Additions to property, plant and equipment	(88.7)	(77.6)
Additions to other long-term assets	(2.3)	(1.6)
Other	0.1	2.9
Net cash used for investing activities	(90.9)	(76.3)
Cash flows from financing activities
Proceeds from short-term borrowings	74.5	305.0
Repayments of short-term borrowings	(44.4)	(466.9)
Repayments of debt and financing obligations	(16.5)	(16.2)
Dividends paid	(52.2)	(51.7)
Repurchase of common stock and common stock withheld to cover taxes	(7.7)	(18.7)
Net cash used for financing activities	(46.3)	(248.5)
Effect of exchange rate changes on cash and cash equivalents	0.5	0.7
Net increase in cash and cash equivalents	98.1	27.9
Cash and cash equivalents, beginning of period	68.2	70.7
Cash and cash equivalents, end of period	$ 166.3	$ 98.6

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Aug. 30, 2026	May 31, 2026
Current assets:
Cash and cash equivalents	$ 166.3	$ 68.2
Receivables, net of allowances of $0.9 and $0.9	787.7	779.1
Inventories	965.3	968.5
Prepaid expenses and other current assets	130.5	198.6
Total current assets	2,049.8	2,014.4
Property, plant and equipment, net	3,618.9	3,690.0
Operating lease assets	105.9	111.6
Goodwill	1,124.9	1,130.1
Intangible assets, net	106.6	108.3
Other assets	317.2	325.7
Total assets	7,323.3	7,380.1
Current liabilities:
Short-term borrowings	279.3	249.4
Current portion of long-term debt and financing obligations	70.8	70.6
Accounts payable	631.1	613.1
Accrued liabilities	427.8	482.4
Total current liabilities	1,409.0	1,415.5
Long-term liabilities:
Long-term debt and financing obligations, excluding current portion	3,578.5	3,595.2
Deferred income taxes	284.9	297.5
Other noncurrent liabilities	244.2	247.0
Total long-term liabilities	4,107.6	4,139.7
Commitments and contingencies
Stockholders’ equity:
Common stock of $1.00 par value, 600,000,000 shares authorized; [xxx,xxx,xxx] and 150,735,397 shares issued	152.6	152.1
Treasury stock, at cost, 12,152,507 and 7,068,741 common shares	(969.5)	(961.8)
Additional distributed capital	(410.3)	(426.9)
Retained earnings	2,904.8	2,929.7
Accumulated other comprehensive income	129.1	131.8
Total stockholders’ equity	1,806.7	1,824.9
Total liabilities and stockholders’ equity	$ 7,323.3	$ 7,380.1