LW

EX-99.1

2 lw-20260830x8kxexx9911q27.htm

EX-99.1

Document

Exhibit 99.1

News Release

For more information, please contact:

Investors:

Debbie Hancock

208-202-7259

investors@lambweston.com

Media:

Erin Gardiner

208-202-7257

communication@lambweston.com

Lamb Weston Announces First Quarter Fiscal 2027 Results Above Guidance

Increases Full-Year 2027 Outlook for Net Sales, Adjusted Diluted EPS and Adjusted EBITDA

•Net Sales for the first quarter increased 1% year-over-year to $1.67 billion

•Net Income and Adjusted Net Income(1) for the first quarter were $29 million and $103 million

•Adjusted EBITDA(1) for the first quarter was $286 million

•Reported and Adjusted Diluted EPS(1) for the first quarter were $0.21 and $0.75

•Full-year Adjusted EBITDA(1) outlook updated to $1.125 billion to $1.215 billion

EAGLE, ID (October 6, 2026) – Lamb Weston Holdings, Inc. (NYSE: LW) announced today its results for the first quarter of fiscal 2027 and updates its full-year financial targets for fiscal 2027.

“We are off to a solid start to the year, delivering first quarter net sales and profit above our expectations,” said Mike Smith, president and chief executive officer of Lamb Weston. “Our first quarter results were driven by continued momentum in North America where our strong customer relationships fueled sales volume growth and we continued to drive cost savings.

“For our International segment, which overall performed in line with our expectations for the first quarter, EMEA continues to face challenging market conditions. As we worked through prior year crop carry in costs, Segment Adjusted EBITDA has improved sequentially. We have taken action to balance our network utilization as demonstrated by ending production at Broekhuizenvorst and successfully transitioning customer fulfillment within Lamb Weston's network enabling further cost optimization.

“We continue to experience unexpected inflationary pressure across key input costs and freight expense. Our teams are addressing cost inflation by working with suppliers and hedging where possible. Furthermore, we have benefited from capacity optimization initiatives started over a year ago in North America, which have led to an approximate 10 percentage point increase in utilization. These efforts will enable us to overdeliver forecasted savings from our cost savings program.

“At the same time, we continue to make meaningful progress advancing our Focus to Win strategy, including cross-functional efforts to sharpen our prioritization of markets and channels. We expect to complete this work in the coming months and look forward to sharing our roadmap for driving long-term shareholder value at our Investor Day in early calendar 2027.”

1

Q1 Results of Operations

Net Sales

$ in millionsQ1 2026Sales VolumePrice/mixFXQ1 2027% Change % Change excl. FX (1)

Lamb Weston$1,660 $36 $(30)$4 $1,670 1 %— %

•Net sales increased 1 percent due to a 2 percent increase in sales volume and an immaterial favorable currency impact, partially offset by a 2 percent decrease in price/mix.

Net Income, Adjusted EBITDA(1) and Diluted EPS

$ in millions except earnings per shareQ1 2026Q1 2027% Change

Net Income$64 $29 (55)%

Adjusted Net Income(1) $103 $103 flat

Adjusted EBITDA(1) $302 $286 (5)%

Diluted EPS$0.46 $0.21 (54)%

Adjusted Diluted EPS(1) $0.74 $0.75 1 %

•Net income and Adjusted Net Income(1) decreased 55 percent and zero percent, respectively.

•Adjusted EBITDA(1) decreased 5 percent. Higher sales volume was more than offset by lower price/mix and both higher cost of sales and selling, general and administrative expenses. Total manufacturing cost per pound increased due mostly to the International segment driven by EMEA performance.

•Selling, general and administrative expenses increased primarily due to lapping $7 million of non-recurring miscellaneous income in the first quarter fiscal 2026. Ongoing cost savings mostly offset increases in outside services and fixed expense.

North America Segment

Net Sales

$ in millionsQ1 2026Sales VolumePrice/mixFXQ1 2027% Change % Change excl. FX (1)

North America$1,085 $73 $(19)$2 $1,141 5 %5 %

•Net sales increased 5 percent. Sales volume grew for the seventh consecutive quarter and increased 7 percent, driven by higher demand from existing customers and customer wins.

•Price/mix declined 2 percent resulting from price and trade support for customers and continued mix shift toward faster-growing chain customers and private-label products.

Segment Adjusted EBITDA

$ in millionsQ1 2026Q1 2027% Change

North America$260 $287 11 %

•Segment Adjusted EBITDA increased 11 percent. Higher sales volumes, cost savings initiatives and $5 million in tariff refunds, as well as an increase in equity method investment earnings, more than offset price and trade support for customers, customer and product mix and inflation in key input cost categories.

2

International Segment

Net Sales

$ in millionsQ1 2026Sales VolumePrice/mixFXQ1

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.ce06d217.1785069074.2bafcb12

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.c706d217.1784553614.150bea6

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.