Company: LW
Filing Date: 2025-04-03
Form Type: 10-Q
Source: 0001679273-25-000026
Chunk: 35

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-04-03
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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production lines and schedules across our manufacturing network in North America, and reductions in employee headcount, other operating expenses, and capital expenditures. 

In connection with the Restructuring Plan, we expect to recognize total pre-tax charges of $190 million to $210 million. Any changes to estimates or timing will be reflected in our results of operations in future periods. We expect actions in connection with the Restructuring Plan will be substantially complete by the end of the fourth quarter of fiscal 2025 or early fiscal 2026. We estimate that the Restructuring Plan will generate approximately $55 million in pre-tax cost savings and reduce working capital in fiscal 2025. 

Net income for the thirteen weeks ended February 23, 2025 included:

•$10.3 million ($7.7 million after-tax, or $0.05 per share) of pre-tax charges;

◦$0.7 million ($0.5 million after-tax, or zero per share) was included in Cost of sales; and

◦$9.6 million ($7.2 million after-tax, or $0.05 per share) was included in Restructuring expense

Net income for the thirty-nine weeks ended February 23, 2025 included:

•$169.4 million ($131.3 million after-tax, or $0.91 per share) of pre-tax charges, of which $120.2 million are cash expenses and $49.2 million of non-cash expenses;

◦$76.2 million ($57.9 million after-tax, or $0.40 per share) was included in Cost of sales;

◦$84.2 million ($66.5 million after-tax, or $0.46 per share) was included in Restructuring expense; and

◦$9.0 million ($6.9 million after-tax, or $0.05 per share) was included in Equity method investment earnings.

For more information related to the Restructuring Plan, see Note 4, Restructuring Plan, of the Condensed Notes to Consolidated Financial Statements in “Part I, Item 1. Financial Statements” in this report.

Results of Operations 

Thirteen Weeks Ended February 23, 2025 compared to Thirteen Weeks Ended February 25, 2024

Net Sales and Segment Adjusted EBITDA

Thirteen Weeks Ended(in millions, except percentages)February 23,2025February 25,2024%Increase (Decre