Lamb Weston Holdings Inc (LW) financial statements: income statement, balance sheet and cash flow

Lamb Weston Holdings Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (May 31, 2026 · FY), Lamb Weston Holdings Inc reported revenue of $6.6B (+2.5% year on year) and net income of $290.0M (-18.8% year on year).

Income statement

Lamb Weston Holdings Inc income statement, fiscal years

Line item	May 31, 2026 · FY	May 25, 2025 · FY	May 26, 2024 · FY	May 28, 2023 · FY
Net sales	$6.6B	$6.5B	$6.5B	$5.4B
Cost of sales	$5.3B	$5.1B	$4.7B	$3.9B
Gross profit	$1.4B	$1.4B	$1.8B	$1.4B
Selling, general and administrative expenses	$664.6M	$633.5M	$701.4M	$550.0M
Cost Savings Program and Restructuring expenses, net	$104.0M	$100.0M	—	—
Income from operations	$591.1M	$665.1M	$1.1B	$882.1M
Interest expense, net	$180.5M	$180.0M	$135.8M	$109.2M
Income before income taxes and equity method earnings	$410.6M	$485.1M	$929.5M	$772.9M
Income tax expense	$128.1M	$143.1M	$230.0M	$224.6M
Equity method investment earnings	$7.5M	$15.2M	$26.0M	$460.6M
Net income	$290.0M	$357.2M	$725.5M	$1.0B
Basic (in dollars per share)	$2.09	$2.51	$5.01	$6.98
Diluted (in dollars per share)	$2.08	$2.50	$4.98	$6.95
Basic (in shares)	138.9M	142.2M	144.9M	144.5M
Diluted (in shares)	139.1M	142.7M	145.6M	145.2M

Lamb Weston Holdings Inc income statement, quarters

Line item	Aug 30, 2026 · Q1	Feb 22, 2026 · Q3	Nov 23, 2025 · Q2	Aug 24, 2025 · Q1
Net sales	$1.7B	$1.6B	$1.6B	$1.7B
Cost of sales	$1.4B	$1.2B	$1.3B	$1.3B
Gross profit	$266.5M	$331.6M	$324.3M	$342.4M
Selling, general and administrative expenses	$170.2M	$156.8M	$171.0M	$153.6M
Cost Savings Program and Restructuring expenses	$14.1M	$48.2M	$14.1M	$32.3M
Income from operations	$82.2M	$126.6M	$139.2M	$156.5M
Interest expense, net	$42.4M	$45.0M	$44.3M	$43.7M
Income before income taxes and equity method earnings	$39.8M	$81.6M	$94.9M	$112.8M
Income tax expense	$16.9M	$30.3M	$36.0M	$47.9M
Equity method investment earnings (loss)	$6.2M	$2.7M	$3.2M	($600.0K)
Net income	$29.1M	$54.0M	$62.1M	$64.3M
Basic (in dollars per share)	$0.21	$0.39	$0.45	$0.46
Diluted (in dollars per share)	$0.21	$0.39	$0.44	$0.46
Basic (in shares)	137.6M	139.0M	139.4M	139.5M
Diluted (in shares)	138.1M	139.3M	139.6M	139.8M

Balance sheet

Lamb Weston Holdings Inc balance sheet, fiscal years

Line item	May 31, 2026 · FY	May 25, 2025 · FY	May 26, 2024 · FY	May 28, 2023 · FY
Cash and cash equivalents	$68.2M	$70.7M	$71.4M	$304.8M
Receivables, net of allowances of $0.9 and $0.9	$779.1M	$781.6M	$743.6M	$724.2M
Inventories	$968.5M	$1.0B	$1.1B	$932.0M
Prepaid expenses and other current assets	$198.6M	$145.0M	$136.4M	$166.2M
Total current assets	$2.0B	$2.0B	$2.1B	$2.1B
Property, plant and equipment, net	$3.7B	$3.7B	$3.6B	$2.8B
Operating lease assets	$111.6M	$113.2M	$133.0M	$146.1M
Goodwill	$1.1B	$1.1B	$1.1B	$1.0B
Intangible assets, net	$108.3M	$114.0M	$104.9M	$110.2M
Other assets	$325.7M	$354.6M	$396.4M	$244.1M
Total assets	$7.4B	$7.4B	$7.4B	$6.5B
Short-term borrowings	$249.4M	$370.8M	$326.3M	$158.5M
Current portion of long-term debt and financing obligations	$70.6M	$77.8M	$56.4M	$55.3M
Accounts payable	$613.1M	$616.4M	$833.8M	$636.6M
Accrued liabilities	$482.4M	$411.0M	$407.6M	$509.8M
Total current liabilities	$1.4B	$1.5B	$1.6B	$1.4B
Long-term debt and financing obligations, excluding current portion	$3.6B	$3.7B	$3.4B	$3.2B
Deferred income taxes	$297.5M	$253.5M	$256.2M	$252.1M
Other noncurrent liabilities	$247.0M	$242.6M	$258.2M	$247.8M
Total long-term liabilities	$4.1B	$4.2B	$4.0B	$3.7B
Common stock of $1.00 par value, 600,000,000 shares authorized; [xxx,xxx,xxx] and 150,735,397 shares issued	152.1M	151.4M	150.7M	150.3M
Treasury stock, at cost, 12,152,507 and 7,068,741 common shares	-961.8M	-838.0M	-540.9M	-314.3M
Additional distributed capital	($426.9M)	($479.1M)	($508.9M)	($558.6M)
Retained earnings	$2.9B	$2.8B	$2.7B	$2.2B
Accumulated other comprehensive income	$131.8M	$54.5M	($12.9M)	($26.8M)
Total stockholders’ equity	$1.8B	$1.7B	$1.8B	$1.4B
Total liabilities and stockholders’ equity	$7.4B	$7.4B	$7.4B	$6.5B

Lamb Weston Holdings Inc balance sheet, quarters

Line item	Aug 30, 2026	Feb 22, 2026	Nov 23, 2025	Aug 24, 2025
Cash and cash equivalents	$166.3M	$57.5M	$82.7M	$98.6M
Receivables, net of allowances of $0.9 and $0.9	$787.7M	$750.5M	$742.2M	$772.7M
Inventories	$965.3M	$1.1B	$1.1B	$906.8M
Prepaid expenses and other current assets	$130.5M	$158.3M	$68.3M	$95.2M
Total current assets	$2.0B	$2.1B	$2.0B	$1.9B
Property, plant and equipment, net	$3.6B	$3.7B	$3.7B	$3.7B
Operating lease assets	$105.9M	$116.8M	$118.2M	$117.7M
Goodwill	$1.1B	$1.1B	$1.1B	$1.1B
Intangible assets, net	$106.6M	$109.7M	$110.9M	$114.5M
Other assets	$317.2M	$319.5M	$338.5M	$330.8M
Total assets	$7.3B	$7.4B	$7.3B	$7.2B
Short-term borrowings	$279.3M	$269.2M	$187.0M	$215.4M
Current portion of long-term debt and financing obligations	$70.8M	$80.6M	$82.7M	$81.8M
Accounts payable	$631.1M	$599.7M	$709.2M	$544.9M
Accrued liabilities	$427.8M	$460.0M	$424.2M	$415.9M
Total current liabilities	$1.4B	$1.4B	$1.4B	$1.3B
Long-term debt and financing obligations, excluding current portion	$3.6B	$3.6B	$3.6B	$3.7B
Deferred income taxes	$284.9M	$272.8M	$273.3M	$264.0M
Other noncurrent liabilities	$244.2M	$241.2M	$251.3M	$254.0M
Total long-term liabilities	$4.1B	$4.2B	$4.2B	$4.2B
Common stock of $1.00 par value, 600,000,000 shares authorized; [xxx,xxx,xxx] and 150,735,397 shares issued	152.6M	152.1M	152.0M	151.8M
Treasury stock, at cost, 12,152,507 and 7,068,741 common shares	-969.5M	-897.5M	-897.4M	-856.7M
Additional distributed capital	($410.3M)	($443.2M)	($453.7M)	($468.2M)
Retained earnings	$2.9B	$2.9B	$2.9B	$2.9B
Accumulated other comprehensive income	$129.1M	$142.9M	$81.6M	$101.1M
Total stockholders’ equity	$1.8B	$1.8B	$1.8B	$1.8B
Total liabilities and stockholders’ equity	$7.3B	$7.4B	$7.3B	$7.2B

Cash flow statement

Lamb Weston Holdings Inc cash flow statement, fiscal years

Line item	May 31, 2026 · FY	May 25, 2025 · FY	May 26, 2024 · FY	May 28, 2023 · FY
Net income	$290.0M	$357.2M	$725.5M	$1.0B
Depreciation and amortization of intangibles and debt issuance costs	$396.7M	$407.5M	$306.8M	$222.8M
Stock-settled, stock-based compensation expense	$46.2M	$39.5M	$46.8M	$38.5M
Equity method investment (earnings) loss, net of distributions	($2.5M)	$11.9M	($15.5M)	($35.7M)
Deferred income taxes	$40.5M	$600.0K	($1.3M)	$400.0K
Cost Savings Program and Restructuring expenses	$37.8M	—	—	—
Blue chip swap transaction gains	$0	($21.1M)	—	—
Other	$1.0M	($5.4M)	$7.0M	$23.9M
Receivables	$20.3M	($22.2M)	($15.1M)	($53.6M)
Inventories	$77.8M	$112.6M	($203.3M)	($125.1M)
Income taxes payable/receivable, net	($41.9M)	($10.3M)	$20.1M	($12.3M)
Prepaid expenses and other current assets	($2.6M)	$9.5M	$9.7M	$1.8M
Accounts payable	($1.5M)	$2.0M	$36.5M	$83.1M
Accrued liabilities	$81.1M	($13.5M)	($118.9M)	$56.5M
Net cash provided by operating activities	$942.9M	$868.3M	$798.2M	$761.7M
Additions to property, plant and equipment	($402.7M)	($638.2M)	($929.5M)	($654.0M)
Additions to other long-term assets	($7.4M)	($33.6M)	($62.3M)	($82.0M)
Acquisition of business, net of cash acquired	$0	$0	$0	—
Proceeds from sale of property, plant and equipment	$26.0M	—	—	—
Proceeds from blue chip swap transactions, net of purchases	$0	$21.1M	—	—
Other	$3.9M	$2.7M	$18.2M	$5.5M
Net cash used for investing activities	($380.2M)	($648.0M)	($984.1M)	($1.3B)
Proceeds from short-term borrowings	$1.2B	$1.7B	$164.9M	—
Repayments of short-term borrowings	($1.3B)	($1.7B)	—	—
Proceeds from issuance of debt	$103.5M	$525.3M	$592.0M	$529.5M
Repayments of debt and financing obligations	($217.1M)	($276.6M)	($401.1M)	($32.6M)
Dividends paid	($207.5M)	($206.9M)	($174.0M)	($146.1M)
Repurchase of common stock and common stock withheld to cover taxes	($122.8M)	($294.4M)	($225.3M)	($51.6M)
Other	$1.9M	($15.2M)	($4.5M)	$200.0K
Net cash used for financing activities	($569.1M)	($225.0M)	($48.0M)	$340.8M
Effect of exchange rate changes on cash and cash equivalents	$3.9M	$4.0M	$500.0K	$18.2M
Net decrease in cash and cash equivalents	($2.5M)	($700.0K)	($233.4M)	($220.2M)
Cash and cash equivalents, beginning of period	$70.7M	$71.4M	$304.8M	$525.0M
Cash and cash equivalents, end of period	$68.2M	$70.7M	$71.4M	$304.8M

Lamb Weston Holdings Inc cash flow statement, quarters

Line item	Aug 30, 2026 · Q1	Feb 22, 2026 · YTD	Nov 23, 2025 · YTD	Aug 24, 2025 · Q1
Net income	$29.1M	$180.4M	$126.4M	$64.3M
Depreciation and amortization of intangibles and debt issuance costs	$100.9M	$291.8M	$191.5M	$95.3M
Stock-settled, stock-based compensation expense	$15.1M	$30.6M	$20.1M	$10.6M
Equity method investment (earnings) loss, net of distributions	($3.1M)	($2.5M)	($2.8M)	$200.0K
Deferred income taxes	($11.9M)	$15.1M	$19.0M	$14.5M
Cost Savings Program and Restructuring expenses	$24.1M	$46.4M	—	—
Other	$11.4M	($8.0M)	$11.8M	($1.5M)
Receivables	($5.2M)	$53.6M	$43.8M	$17.6M
Inventories	$1.5M	($45.2M)	($79.5M)	$136.3M
Income taxes payable/receivable, net	$32.1M	($1.7M)	($6.5M)	$22.8M
Prepaid expenses and other current assets	$34.6M	($13.8M)	$67.5M	$40.2M
Accounts payable	$59.2M	($8.1M)	$117.3M	($47.7M)
Accrued liabilities	($53.0M)	$57.0M	$7.6M	($13.7M)
Net cash provided by operating activities	$234.8M	$595.6M	$530.4M	$352.0M
Additions to property, plant and equipment	($88.7M)	($256.5M)	($155.0M)	($77.6M)
Additions to other long-term assets	($2.3M)	($100.0K)	($700.0K)	($1.6M)
Other	$100.0K	$3.7M	$3.7M	$2.9M
Net cash used for investing activities	($90.9M)	($238.0M)	($137.3M)	($76.3M)
Proceeds from short-term borrowings	$74.5M	$753.8M	$374.8M	$305.0M
Repayments of short-term borrowings	($44.4M)	($862.6M)	($562.4M)	($466.9M)
Repayments of debt and financing obligations	($16.5M)	($54.9M)	($35.7M)	($16.2M)
Dividends paid	($52.2M)	($154.7M)	($103.3M)	($51.7M)
Repurchase of common stock and common stock withheld to cover taxes	($7.7M)	($59.2M)	($59.1M)	($18.7M)
Net cash used for financing activities	($46.3M)	($374.1M)	($381.8M)	($248.5M)
Effect of exchange rate changes on cash and cash equivalents	$500.0K	$3.3M	$700.0K	$700.0K
Net increase in cash and cash equivalents	$98.1M	($13.2M)	$12.0M	$27.9M
Cash and cash equivalents, beginning of period	$68.2M	$70.7M	$70.7M	$70.7M
Cash and cash equivalents, end of period	$166.3M	$57.5M	$82.7M	$98.6M

Lamb Weston Holdings Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.