Lamb Weston’s Q4 Fiscal 2026 Results Highlight Volume Strength and Cost‑Saving Momentum

Lamb Weston Holdings (NYSE: LW) delivered fiscal fourth-quarter and full-year results on July 24, 2026, with full-year net sales rising to $6.612 billion—above the high end of the company’s guidance of $6.55 billion—and adjusted EBITDA of $1.147 billion exceeding its guidance top of $1.14 billion.

For the quarter ended May 31, 2026, net sales increased 6%, supported by a 7% increase in sales volume and a 2% favorable currency impact; these gains offset a 3% reduction in price/mix. Notably, sales volume growth extended for a sixth consecutive quarter. Adjusted diluted EPS was $0.87, down 5% year-over-year, while adjusted EBITDA decreased 2% on the quarter. Full-year performance also benefited from a 53rd week in the fiscal year, contributing approximately $127 million in net sales and $28.9 million in adjusted EBITDA.

Segment Breakdown: North America Outpaces International

In North America, Q4 adjusted EBITDA rose 17% to $305 million from $260 million, driven by volume gains, cost-saving initiatives and improved operating efficiencies despite inflationary pressures and unfavorable price/mix dynamics. In contrast, the international segment saw a 2% decline in net sales and an 81% plunge in adjusted EBITDA to $12 million. The steep margin erosion internationally reflected difficult market conditions in EMEA, including disruption from the Middle East conflict and other inflationary and competitive pressures.

Fiscal Year 2026 Highlights and Outlook

For all of fiscal 2026, net sales increased 2% to $6.612 billion on a 7% volume increase and favorable currency, offset by a 6% decline in price/mix. Net income fell 19% to $290 million; adjusted EBITDA dropped 9% to $1.147 billion. Lamb Weston returned $320.7 million to shareholders through dividends and share repurchases, and exceeded its cost-savings milestone, delivering over $100 million in annualized run rate savings in year one of its “Focus to Win” program. For fiscal 2027, the company projected net sales flat to +1%, adjusted EBITDA between $1.1 billion and $1.2 billion, and adjusted diluted EPS of $2.95 to $3.25.

Why the Results Matter

These results underscore Lamb Weston’s execution in driving volume growth and operational efficiencies in North America, even as international markets remain pressured. Exceeding guidance on both revenue and adjusted EBITDA lends credibility to its “Focus to Win” cost-savings strategy and strengthens its outlook as a more resilient packaged‑foods player.

Next steps for investors will include how effectively Lamb Weston navigates international headwinds and sustains volume momentum, alongside details to be shared at its planned 2027 Investor Day.