Q4 2024 Lamb Weston Holdings Inc Earnings Call Transcript
Key Points
- Lamb Weston Holdings Inc (LW) has integrated the acquisition of its former European joint venture.
- The company has started state-of-the-art processing facilities in China and Idaho.
- Lamb Weston Holdings Inc (LW) has implemented pricing actions to offset multiple years of high input cost inflation.
- The company has upgraded its IT infrastructure with a new ERP system.
- Lamb Weston Holdings Inc (LW) continues to drive supply chain productivity savings across its global production network.
- Sales and earnings performance fell well short of targets due to executional challenges and soft global demand for fries.
- Higher than anticipated market share losses and unfavorable mix impacted financial results.
- Soft restaurant traffic trends in both the US and key international markets contributed to lower sales.
- The company had to voluntarily withdraw a product, impacting financial performance.
- Lamb Weston Holdings Inc (LW) expects the industry supply-demand imbalance to persist through much of fiscal 2025.
Good day, and welcome to the Lamb Weston fourth quarter and full year 2024 earnings call. Today's conference is being recorded. At this time, I would like to turn the conference over to Dexter Congbalay, Vice President, Investor Relations and Strategy. Please go ahead, sir.
Good morning and thank you for joining us for Lamb Weston's fourth quarter and fiscal year 2024 earnings call. This morning, we issued our earnings press release, which is available on our website, lambweston.com.
Please note that during our remarks, we'll make some forward-looking statements about the company's expected performance that are based on how we see things today. Actual results may differ materially due to risks and uncertainties.
Please refer to the cautionary statements and risk factors contained in our SEC filings for more details on our forward-looking statements. Some of today's remarks include non-GAAP financial measures. These non-GAAP financial measures should not be considered a
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