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Lamb Weston

Lamb Weston (LW) Q3 2026 Earnings

Reported Apr 1, 2026 at 8:30 AM ET · SEC Source

Q3 26 EPS

$0.72

BEAT +17.42%

Est. $0.61

Q3 26 Revenue

$1.56B

BEAT +5.29%

Est. $1.49B

vs S&P Since Q3 26

+1.1%

BEATING MARKET

LW +14.8% vs S&P +13.7%

Market Reaction

Did LW Beat Earnings? Q3 2026 Results

Lamb Weston posted a beats-across-the-board third quarter for fiscal 2026, yet the results carried a complicated undertone as the frozen potato giant navigated a sharp profitability squeeze alongside its top-line progress. Adjusted diluted EPS came i… Read more Lamb Weston posted a beats-across-the-board third quarter for fiscal 2026, yet the results carried a complicated undertone as the frozen potato giant navigated a sharp profitability squeeze alongside its top-line progress. Adjusted diluted EPS came in at $0.72, clearing the $0.61 consensus estimate by 17.42%, while net sales rose 2.9% year-over-year to $1.56 billion, topping the $1.49 billion consensus by 5.29%. The headline numbers, however, masked significant pressure beneath the surface: GAAP net income plunged 63% to $54.00 million as the company absorbed $55.50 million in restructuring charges and a $32.50 million write-off of excess raw potatoes tied to weaker-than-expected International segment volumes, which also prompted the closure of its Munro, Argentina facility. North America volume gains, driven by customer wins and share retention, provided the primary growth engine. Despite the stock tumbling roughly 9% following the report, management raised its fiscal 2026 net sales guidance midpoint to a range of $6.45 billion to $6.55 billion and tightened Adjusted EBITDA expectations to $1.08 billion to $1.14 billion.

Key Takeaways

  • • North America customer wins, share gains, and strong retention drove 12% volume growth in that segment
  • • Price/mix declined 7% at constant currency due to trade support and consumer shifts toward value-oriented channels and brands
  • • Net $32.5 million pre-tax charge for write-off of excess raw potatoes in International segment
  • • Cost savings initiatives and improved operating efficiencies in North America partially offset higher costs
  • • Increased fixed factory burden costs from underutilized international production facilities
  • • Inflationary pressures across key input categories globally
  • • Favorable foreign currency impact of $47.4 million on net sales

LW Forward Guidance & Outlook

Lamb Weston raised the midpoint of its fiscal 2026 net sales guidance to $6.45 billion to $6.55 billion (from $6.35 billion to $6.55 billion previously) and tightened its Adjusted EBITDA outlook to $1.08 billion to $1.14 billion (from $1.00 billion to $1.20 billion). The company reduced expected capital expenditures to approximately $400 million from approximately $500 million. Guidance includes an approximate 1.8% benefit from favorable foreign currency translation and the contribution of a 53rd week in Q4 fiscal 2026. The outlook reflects the company's current assessment of enacted tariffs but does not include potential effects of evolving trade policies. The company now expects to exceed its cost reduction target of at least $250 million by fiscal year-end 2028.

24/7 Wall St

LW YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

24/7 Wall St

LW Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q3 26
24/7 Wall St

LW Revenue by Geography

With YoY comparisons, source: SEC Filings

Q4 25 Q3 26

“Driven by continued solid performance in our North America segment, we delivered another quarter in line with our expectations.”

— Mike Smith, Q3 2026 Earnings Press Release

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