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Lamb Weston Holdings (LW) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Oct 6, 2026 · Lamb Weston Holdings (LW) Q1 FY27 earnings results →

Q1 FY27 Revenue up 1% year over year to $1.7B · 2¢ of every $1 of revenue kept as net profit · operating margin 4.9%

Lamb Weston Holdings made $1.7B in Q1 FY27 (+0.7% Y/Y). Operating margin 4.9%, net earnings $29.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 6, 2026.

Revenue$1.7B
Year over year+0.7%
Operating margin4.9%
Net earnings$29.1M
Operating cash flow$235M

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Lamb Weston Holdings Q1 FY27 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Lamb Weston Holdings Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.7B in Q1 FY27, up 1% year over year and down 6% from the previous quarter.

Gross margin was 16.0%, down 4.7 points from Q1 FY26. Operating profit was $0.08B, a 4.9% margin (down 4.5 points year over year). Operating profit fell $0.07B even though revenue rose $0.01B versus Q1 FY26, so costs grew faster than sales. Operating expenses fell 1% while revenue rose 1%. The fastest-growing cost line was SG&A (+11%). Net earnings were $0.03B, down 55% year over year. The effective tax rate was 36.7%.

Operating cash flow was $0.23B (down 33% year over year), 807% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.09B left free cash flow of $0.15B.

Quarterly history

Lamb Weston Holdings revenue by quarterLamb Weston Holdings revenue by quarter$1.5BQ3 FY25$1.7BQ4 FY25$1.7BQ1 FY26$1.6BQ2 FY26$1.6BQ3 FY26$1.8BQ4 FY26$1.7BQ1 FY27
Lamb Weston Holdings net earnings by quarterLamb Weston Holdings net earnings by quarter$146MQ3 FY25$120MQ4 FY25$64.3MQ1 FY26$62.1MQ2 FY26$54.0MQ3 FY26$110MQ4 FY26$29.1MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QOct 6, 2026$1.7B+0.7%4.9%$29.1M$235M
Q4 FY2610-KJul 24, 2026$1.8B+6%9.5%$110M$347M
Q3 FY2610-QApr 1, 2026$1.6B+3%8.1%$54.0M$65.2M
Q2 FY2610-QDec 19, 2025$1.6B+1%8.6%$62.1M$178M
Q1 FY2610-QSep 30, 2025$1.7B+0.3%9.4%$64.3M$352M
Q4 FY2510-KJul 23, 2025$1.7B+4%11.1%$120M$383M
Q3 FY2510-QApr 3, 2025$1.5B+4%16.4%$146M$56.0M

Charts

Lamb Weston Holdings: revenue growth, year over year and quarter over quarterLamb Weston Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q3 FY25+4%+10%Q4 FY25+0%-1%Q1 FY26+1%-2%Q2 FY26+3%-3%Q3 FY26+6%+13%Q4 FY26+1%-6%Q1 FY27
Latest (Q1 FY27): Y/Y +1%, Q/Q -6%.
Lamb Weston Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Lamb Weston Holdings: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$826MCapital spending−$414MOther financing−$224MDividends−$208MCash drawn (+) / kept (−)−$67.7MNet borrowing (+) / repaid (−)$64.9MOther investing$19.0MExchange rates$3.7M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Lamb Weston Holdings: profit against cash, quarter by quarterLamb Weston Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$36.1M$99.1MQ2 FY25$146M$56.0MQ3 FY25$120M$383MQ4 FY25$64.3M$352MQ1 FY26$62.1M$178MQ2 FY26$54.0M$65.2MQ3 FY26$110M$347MQ4 FY26$29.1M$235MQ1 FY27
Latest (Q1 FY27): Net income $29.1M, Operating cash flow $235M.
Lamb Weston Holdings: diluted shares by fiscal yearLamb Weston Holdings: diluted shares by fiscal year147MFY21146MFY22145MFY23146MFY24143MFY25139MFY26
-5.4% since FY21: buybacks shrank the count.
Lamb Weston Holdings: long-term debt falling due (FY26)Lamb Weston Holdings: long-term debt falling due (FY26)$69.9M2027$570M2028$552M2029$1.3B2030$108M2031$1.0BLater
Cash $68.2M, short-term investments —, long-term debt $3.7B at 2026-05-31.
Lamb Weston Holdings in its industry: growth against margin (5 companies, SIC 2030)Lamb Weston Holdings in its industry: growth against margin (5 companies, SIC 2030)revenue growth, year over year →↑ operating marginmedian -2%median 5%KHCMZTIBRFHPLAGLW (+1%, 5%)
Canned, Frozen & Preservd Fruit, Veg & Food Specialties; dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

Sells to

About Lamb Weston Holdings

Lamb Weston Holdings, Inc. (“we,” “us,” “our,” “the Company,” or “Lamb Weston”) is a leading global producer, distributor, and marketer of value-added frozen potato products and is headquartered in Eagle, Idaho. We are the number one supplier of value-added frozen potato products in North America and a leading supplier of value-added frozen potato products internationally, with a strong presence in high-growth emerging markets. We offer a broad product portfolio to a diverse channel and customer base in over 100 countries. French fries represent most of our product portfolio.

In its own words, from its 10-K, filed Jul 24, 2026.

Lamb Weston Holdings against its Canned, Frozen & Preservd Fruit, Veg & Food Specialties peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.7% against the peers' median -2%. Operating margin: 4.9% against the peers' median 4.9%.

CompanyQuarterRevenueY/YOp. margin
LW Lamb Weston HoldingsQ1 FY27$1.7B+0.7%4.9%
KHC Kraft HeinzQ3 2026$6.1B-2%14.3%
MZTI MarzettiQ1 FY27$482M-2%8.6%
BRFH Barfresh Food GroupQ2 2026$4.7M+190%-32.2%
PLAG Planet Green HoldingsQ2 2026$790K-13%-146.9%

Source: Lamb Weston Holdings 10-Q on SEC EDGAR · CIK 1679273 · Canned, Frozen & Preservd Fruit, Veg & Food Specialties

Guidance and outlook

Lamb Weston Holdings Revenue: guidance against what was reportedLamb Weston Holdings Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24FY25$6.5BFY26$6.6B
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns LW and who is buying

Largest holders of LW (13F)Largest holders of LW (13F)BlackRock$730MVanguard Group$699MPrice T Rowe Associates$396MVanguard Portfolio Management LLC$347MVanguard Capital Management LLC$259MStarboard Value LP$248MJana Partners Management, LP$233MAQR Capital Management LLC$213MState Street$210MFMR LLC$165M
Funds' net buying of LW by quarter (13F)Funds' net buying of LW by quarter (13F)−$754M2024-09$465M2024-12−$443M2025-03−$293M2025-06−$258M2025-09−$361M2025-12$258M2026-03−$6.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LW

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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