Lamb Weston first-quarter profit drops to $29 million as sales rise to $1.67 billion

Lamb Weston Holdings, Inc. (LW) said Monday that its net income dropped to $29 million, or 21 cents per diluted share, for the first quarter of fiscal 2027, compared to $64 million, or 46 cents per diluted share, for the same period a year earlier. Net sales for the thirteen weeks ended August 30, 2026, increased 1% to $1.67 billion from $1.66 billion a year earlier.

Here is how the company did:

• Revenue: $1.67 billion vs. $1.66 billion a year earlier
• Net income: $29 million vs. $64 million a year earlier
• Diluted EPS: 21 cents vs. 46 cents a year earlier
• Adjusted EBITDA: $286 million vs. $302 million a year earlier

“We are off to a solid start to the year, delivering first quarter net sales and profit above our expectations,” said Mike Smith, president and chief executive officer of Lamb Weston.

Net sales in the North America segment rose 5% to $1.14 billion from $1.09 billion a year earlier, driven by a 7% increase in sales volume. Segment Adjusted EBITDA for North America increased 11% to $287 million from $260 million a year earlier. Net sales in the International segment fell 8% to $529 million from $575 million a year earlier. Segment Adjusted EBITDA for International declined 54% to $27 million from $57 million a year earlier.

“For our International segment, which overall performed in line with our expectations for the first quarter, EMEA continues to face challenging market conditions,” Smith said. “As we worked through prior year crop carry in costs, Segment Adjusted EBITDA has improved sequentially. We have taken action to balance our network utilization as demonstrated by ending production at Broekhuizenvorst and successfully transitioning customer fulfillment within Lamb Weston's network enabling further cost optimization.”

Lamb Weston updated its full-year fiscal 2027 financial targets, raising its outlook for net sales growth to up low single digits compared to fiscal 2026 net sales of $6.485 billion. The company also updated its Adjusted EBITDA outlook to $1.125 billion to $1.215 billion, updated Adjusted Income from Operations to $730 million to $810 million, and updated net interest expense to approximately $185 million to $190 million.

On October 5, 2026, the board of directors declared a quarterly dividend of 38 cents per share of common stock. The dividend is payable on December 4, 2026, to shareholders of record as of the close of business on November 6, 2026.