Company: LW
Filing Date: 2025-07-23
Form Type: 10-K
Source: 0001679273-25-000049
Chunk: 14

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-07-23
Form: 10-K
Item: Item 8
Chunk 14
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, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. 

/s/ KPMG LLP

Seattle, Washington

July 23, 2025

41

Lamb Weston Holdings, Inc. 

Consolidated Statements of Earnings

(dollars in millions, except per share amounts)

For the Fiscal Years Ended May202520242023Net sales$6,451.3 $6,467.6 $5,350.6 Cost of sales5,052.7 4,700.9 3,918.5 Gross profit1,398.6 1,766.7 1,432.1 Selling, general and administrative expenses633.5 701.4 550.0 Restructuring expense100.0 — — Income from operations665.1 1,065.3 882.1 Interest expense, net180.0 135.8 109.2 Income before income taxes and equity method earnings485.1 929.5 772.9 Income tax expense143.1 230.0 224.6 Equity method investment earnings15.2 26.0 460.6 Net income$357.2 $725.5 $1,008.9 Earnings per share:Basic$2.51 $5.01 $6.98 Diluted$2.50 $4.98 $6.95 Weighted average common shares outstanding:Basic142.2144.9144.5Diluted142.7145.6145.2

See Notes to Consolidated Financial Statements.

42

Lamb Weston Holdings, Inc. 

Consolidated Statements of Comprehensive Income

(dollars in millions)

For the Fiscal Years Ended May202520242023Pre-TaxAmountTax(Expense)BenefitAfter-TaxAmountPre-TaxAmountTax(Expense)BenefitAfter-TaxAmountPre-TaxAmountTax(Expense)BenefitAfter-TaxAmountNet income$500.3 $(143.1)$357.2 $955