$LW
Lamb Weston Holdings, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023016256 Filed on October 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $1.732B $1.665B $1.126B
YoY Change 35.69% 47.95% 14.37%
Cost Of Revenue $1.257B $1.166B $852.3M
YoY Change 40.41% 36.78% 2.33%
Gross Profit $475.6M $499.5M $273.3M
YoY Change 24.63% 82.77% 80.63%
Gross Profit Margin 27.46% 29.99% 24.28%
Selling, General & Admin $170.0M $176.2M $116.3M
YoY Change 54.83% 51.5% 27.66%
% of Gross Profit 35.74% 35.28% 42.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.50M $70.10M $49.80M
YoY Change 33.8% 40.76% 5.29%
% of Gross Profit 13.98% 14.03% 18.22%
Operating Expenses $170.0M $176.2M $116.3M
YoY Change 54.83% 51.5% 27.66%
Operating Profit $305.6M $323.3M $157.0M
YoY Change 12.44% 105.92% 160.8%
Interest Expense -$29.10M -$30.70M -$26.00M
YoY Change 18.29% 18.08% -6.81%
% of Operating Profit -9.52% -9.5% -16.56%
Other Income/Expense, Net
YoY Change
Pretax Income $281.2M $304.7M $305.6M
YoY Change 101.0% -0.29% 693.77%
Income Tax $66.20M $69.90M $73.70M
% Of Pretax Income 23.54% 22.94% 24.12%
Net Earnings $215.0M $234.8M $231.9M
YoY Change 108.54% 1.25% 678.19%
Net Earnings / Revenue 12.41% 14.1% 20.6%
Basic Earnings Per Share $1.48 $1.61 $1.61
Diluted Earnings Per Share $1.48 $1.60 $1.60
COMMON SHARES
Basic Shares Outstanding 144.9M 145.7M 143.7M
Diluted Shares Outstanding 145.5M 146.6M 144.6M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.30M $163.3M $485.3M
YoY Change -81.33% -66.35% -38.55%
Cash & Equivalents $78.30M $163.3M $485.3M
Short-Term Investments
Other Short-Term Assets $82.80M $84.40M $59.90M
YoY Change 63.31% 40.9% -19.92%
Inventory $1.154B $872.9M $635.5M
Prepaid Expenses
Receivables $766.2M $725.7M $449.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.081B $1.846B $1.630B
YoY Change 15.53% 13.26% -6.04%
LONG-TERM ASSETS
Property, Plant & Equipment $3.314B $3.154B $1.803B
YoY Change 77.0% 74.92% 6.02%
Goodwill $1.065B $1.042B $352.2M
YoY Change 206.5% 195.77% 8.87%
Intangibles $109.1M $108.8M $32.80M
YoY Change 240.94% 231.71% -8.38%
Long-Term Investments $54.60M $55.50M $372.5M
YoY Change -79.29% -85.1% 24.67%
Other Assets $476.6M $388.6M $218.8M
YoY Change 88.23% 77.61% 165.53%
Total Long-Term Assets $4.964B $4.693B $2.780B
YoY Change 79.32% 68.85% 13.85%
TOTAL ASSETS
Total Short-Term Assets $2.081B $1.846B $1.630B
Total Long-Term Assets $4.964B $4.693B $2.780B
Total Assets $7.045B $6.540B $4.410B
YoY Change 54.18% 48.3% 5.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $834.5M $678.5M $462.7M
YoY Change 43.73% 46.64% 21.64%
Accrued Expenses $434.0M $411.0M $276.3M
YoY Change 46.28% 48.75% 16.29%
Deferred Revenue
YoY Change
Short-Term Debt $297.0M $143.6M $9.100M
YoY Change 3200.0% 1478.02%
Long-Term Debt Due $55.00M $55.10M $32.20M
YoY Change 70.81% 71.12% 0.63%
Total Short-Term Liabilities $1.618B $1.285B $780.3M
YoY Change 76.14% 64.73% 20.05%
LONG-TERM LIABILITIES
Long-Term Debt $3.253B $3.249B $2.700B
YoY Change 20.41% 20.31% 0.06%
Other Long-Term Liabilities $247.0M $246.9M $200.6M
YoY Change 23.93% 23.08% -16.63%
Total Long-Term Liabilities $3.760B $3.751B $3.119B
YoY Change 22.15% 20.25% 0.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.618B $1.285B $780.3M
Total Long-Term Liabilities $3.760B $3.751B $3.119B
Total Liabilities $5.378B $5.037B $3.900B
YoY Change 34.55% 29.15% 4.02%
SHAREHOLDERS EQUITY
Retained Earnings $2.529B $2.355B $1.502B
YoY Change 61.14% 56.79% 21.11%
Common Stock -$385.2M -$398.0M -$648.6M
YoY Change -39.55% -38.64% -4.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.668B $1.503B $510.0M
YoY Change
Total Liabilities & Shareholders Equity $7.045B $6.540B $4.410B
YoY Change 54.18% 48.3% 5.59%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $215.0M $234.8M $231.9M
YoY Change 108.54% 1.25% 678.19%
Depreciation, Depletion And Amortization $66.50M $70.10M $49.80M
YoY Change 33.8% 40.76% 5.29%
Cash From Operating Activities $120.6M $334.6M $192.1M
YoY Change 25.76% 74.18% 18.73%
INVESTING ACTIVITIES
Capital Expenditures $261.8M $267.3M $101.2M
YoY Change -275.59% 164.13% 28.26%
Acquisitions $42.30M
YoY Change
Other Investing Activities -$4.200M $100.0K $3.400M
YoY Change -184.0% -97.06% -3500.0%
Cash From Investing Activities -$266.0M -$304.8M -$166.9M
YoY Change 84.59% 82.62% 111.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 59.70M -171.7M -63.50M
YoY Change -280.36% 170.39% -16.23%
NET CHANGE
Cash From Operating Activities 120.6M 334.6M 192.1M
Cash From Investing Activities -266.0M -304.8M -166.9M
Cash From Financing Activities 59.70M -171.7M -63.50M
Net Change In Cash -85.70M -141.5M -39.70M
YoY Change 5.41% 256.42% -740.32%
FREE CASH FLOW
Cash From Operating Activities $120.6M $334.6M $192.1M
Capital Expenditures $261.8M $267.3M $101.2M
Free Cash Flow -$141.2M $67.30M $90.90M
YoY Change -157.63% -25.96% 9.65%

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CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2023Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2023Q3 lw Business Acquisition Inventory Step Up Expense Before Tax
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CY2023Q3 lw Selling General And Administrative Expense Integration And Acquisition Related Items Before Tax
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4000000.0
CY2023Q3 lw Depreciation Depletion And Amortization Including Interest Expense Income Tax Expense And Depreciation And Amortization From Equity Method Investments
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CY2023Q3 lw Operating Income Loss And Income Loss From Equity Method Investments
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CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
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CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q3 lw Equity Method Investment Unrealized Gain Loss Mark To Market Adjustments
EquityMethodInvestmentUnrealizedGainLossMarkToMarketAdjustments
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CY2022Q3 lw Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Loss Before Tax
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainLossBeforeTax
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57600000
CY2022Q3 lw Operating Income Loss And Income Loss From Equity Method Investments
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331600000
CY2022Q3 us-gaap Interest Income Expense Nonoperating Net
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CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
73700000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
231900000
CY2022Q3 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
15100000
CY2022Q3 lw Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Loss Before Tax
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainLossBeforeTax
15100000
CY2023Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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