Lamb Weston (LW) Q1 2026 Earnings
Reported Sep 30, 2025 at 8:32 AM ET · SEC Source
Q1 26 EPS
$0.74
BEAT +38.71%
Est. $0.53
Q1 26 Revenue
$1.66B
BEAT +2.70%
Est. $1.62B
vs S&P Since Q1 26
-34.1%
TRAILING MARKET
LW -22.5% vs S&P +11.6%
Market Reaction
Did LW Beat Earnings? Q1 2026 Results
Lamb Weston delivered a stronger-than-expected first quarter of fiscal 2026, with adjusted diluted EPS of $0.74 clearing the $0.53 consensus estimate by 38.71%, even as GAAP profits were weighed down by restructuring charges and a tax rate that surge… Read more Lamb Weston delivered a stronger-than-expected first quarter of fiscal 2026, with adjusted diluted EPS of $0.74 clearing the $0.53 consensus estimate by 38.71%, even as GAAP profits were weighed down by restructuring charges and a tax rate that surged to 42.7%. Revenue came in at $1.66 billion, edging 2.70% above expectations and up 0.3% year-over-year, as a 6% volume increase driven by customer wins in North America and Asia was nearly wiped out by a 7% decline in price/mix reflecting prior-year pricing concessions made to support retail and foodservice partners. GAAP net income fell sharply to $64.30 million, pressured by $31.90 million in Cost Savings Program charges, a pension settlement, and shareholder activism advisory fees, though adjusted EBITDA ticked up 1% to $302.20 million. The results sparked an 8% premarket stock jump, and management reaffirmed full-year constant-currency net sales guidance of $6.35 billion to $6.55 billion, with at least $100 million in cost savings targeted by fiscal year-end 2026.
Key Takeaways
- • 6% volume growth driven by customer wins and retention, particularly in North America and Asia
- • 7% decline in price/mix reflecting carryover impact of fiscal 2025 price and trade investments
- • Lower manufacturing costs per pound driven by cost savings initiatives
- • Lapping approximately $39 million prior year charge related to voluntary product withdrawal
- • Higher effective tax rate of 42.7% versus 28.5% in the prior year quarter
- • Equity method investment earnings declined from $11.3 million to a loss of $0.6 million
- • Favorable working capital led by lower finished goods inventories in North America
LW YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
LW Revenue by Segment
With YoY comparisons, source: SEC Filings
LW Revenue by Geography
With YoY comparisons, source: SEC Filings
“The Lamb Weston team delivered a strong start to the fiscal year with solid volume growth and positive customer momentum, underscoring the strength of our value proposition and our operating model.”
— Mike Smith, Q1 2026 Earnings Press Release
LW Earnings Trends
LW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LW EPS Trend
Earnings per share: estimate vs actual
LW Revenue Trend
Quarterly revenue: estimate vs actual
LW Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $0.61 | $0.72 | +17.42% | $1.56B | +5.29% |
| Q2 26 BEAT | $0.65 | $0.69 | +6.37% | $1.62B | +1.75% |
| Q1 26 BEAT | $0.53 | $0.74 | +38.71% | $1.66B | +2.70% |
| Q4 25 BEAT FY | $0.64 | $0.85 | +33.17% | $1.68B | +5.35% |
| FY Full Year | $3.12 | $2.50 | -19.90% | $6.45B | +1.39% |