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Lamb Weston Holdings Inc. (LW+1.57%) has submitted its Form 10-Q filing for the quarterly period ended February 23, 2025.
The filing reports net sales of $1,520.5 million for the third quarter of fiscal 2025, a 4% increase from $1,458.3 million in the same quarter of the previous year. The increase is attributed to higher sales volumes, offset by a decline in price/mix.
Gross profit for the quarter was $422.5 million, compared to $403.7 million in the prior year. The increase was primarily due to higher sales volumes, partially offset by higher transportation and warehousing costs.
Selling, general, and administrative expenses decreased to $164.2 million from $179.8 million, primarily due to lower costs associated with the ERP transition and cost savings from the Restructuring Plan.
Net income for the quarter was $146.0 million, slightly down from $146.1 million in the previous year. The company reported an effective tax rate of 28.3%, up from 22.8% in the prior year.
Lamb Weston reported a restructuring expense of $9.6 million for the quarter, related to its ongoing Restructuring Plan aimed at operational efficiencies.
Cash provided by operating activities was $485.3 million for the first three quarters of fiscal 2025, an increase from $481.5 million in the same period last year.
The company reported capital expenditures of $559.0 million, primarily related to capacity expansion projects in various regions.
Lamb Weston repurchased 2,972,221 shares of its common stock for $182.0 million during the first three quarters of fiscal 2025, with approximately $458 million remaining authorized for repurchase under its share repurchase program.
The filing also discusses ongoing legal proceedings, including lawsuits related to alleged securities law violations and antitrust claims, which the company intends to defend vigorously.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lamb Weston Holdings Inc. quarterly 10-Q report dated April 3, 2025. To report an error, please email earnings@qz.com.