Lamb Weston Holdings, Inc. (LW) Income Statement
LW FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsLW revenue and net income
Where LW's revenue goes
FY2026Each bar shows an amount and its share of revenue. LW kept 4.4% of revenue as net income.
LW profit margins
LW growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +2.5% | +7.3% | +12.5% | +8.2% |
| Gross profit | −2.8% | −1.7% | +10.3% | +7.5% |
| Operating income | −11.1% | −12.5% | +4.5% | +4.7% |
| Net income | −18.8% | −34.0% | −1.8% | +0.2% |
| EPS (diluted) | −10.1% | −13.6% | +6.9% | +4.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LW quarterly EPS vs estimates
Lamb Weston beat the analyst EPS estimate in 7 of the last 8 quarters.
LW income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.61B | $6.45B | $6.47B | $5.35B | $4.10B | $3.67B | $3.79B | $3.76B | $3.42B | $3.17B |
| Cost of revenue | $5.25B | $5.05B | $4.70B | $3.92B | $3.27B | $2.84B | $2.90B | $2.75B | $2.54B | $2.39B |
| Gross profit | $1.36B | $1.40B | $1.77B | $1.43B | $832.0M | $832.0M | $895.2M | $1.00B | $879.5M | $778.8M |
| Research & development | — | $22.0M | $26.4M | $17.2M | $16.2M | $12.9M | $15.4M | $15.4M | $13.5M | $10.6M |
| Sales, general & admin | $664.6M | $581.3M | $621.5M | $543.4M | $355.9M | $345.6M | $322.8M | $316.4M | $281.9M | $220.7M |
| Total operating expenses | $768.6M | $733.5M | $701.4M | $550.0M | $387.6M | $357.2M | $338.3M | $335.1M | $299.4M | $260.5M |
| Operating income | $591.1M | $665.1M | $1.07B | $882.1M | $444.4M | $474.8M | $556.9M | $668.4M | $580.1M | $518.3M |
| Interest income | — | $180.0M | $135.8M | $109.2M | $107.7M | $118.3M | $108.0M | $107.1M | $108.8M | $61.2M |
| Interest expense | $180.5M | $180.0M | $135.8M | $109.2M | $161.0M | $118.3M | $108.0M | $107.1M | $108.8M | $61.2M |
| Income before taxes | $410.6M | $485.1M | $929.5M | $772.9M | $283.4M | $356.5M | $448.9M | $561.3M | $471.3M | $510.4M |
| Income taxes | $128.1M | $143.1M | $230.0M | $224.6M | $71.8M | $90.5M | $112.3M | $133.6M | $121.2M | $170.2M |
| Net income | $290.0M | $357.2M | $725.5M | $1.01B | $200.9M | $317.8M | $365.9M | $478.6M | $416.8M | $326.9M |
| EBITDA | $987.8M | $1.04B | $1.37B | $1.10B | $636.5M | $662.6M | $739.2M | $830.8M | $723.4M | $627.4M |
| EPS (diluted) | $3.02 | $3.36 | $5.06 | $4.68 | $2.08 | $2.16 | $2.50 | $3.22 | $2.67 | $2.32 |
| Gross margin | 20.6% | 21.7% | 27.3% | 26.8% | 20.3% | 22.7% | 23.6% | 26.7% | 25.7% | 24.6% |
| Operating margin | 8.9% | 10.3% | 16.5% | 16.5% | 10.8% | 12.9% | 14.7% | 17.8% | 16.9% | 16.4% |
| Net margin | 4.4% | 5.5% | 11.2% | 18.9% | 4.9% | 8.7% | 9.6% | 12.7% | 12.2% | 10.3% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.67B | $1.77B | $1.56B | $1.62B | $1.66B | $1.68B | $1.52B | $1.60B | $1.65B | $1.61B | $1.46B | $1.73B |
| Cost of revenue | $1.40B | $1.41B | $1.23B | $1.29B | $1.32B | $1.33B | $1.10B | $1.32B | $1.30B | $1.22B | $1.05B | $1.26B |
| Gross profit | $266.5M | $361.4M | $331.6M | $324.3M | $342.4M | $342.3M | $422.5M | $277.8M | $356.0M | $387.9M | $403.7M | $475.6M |
| Research & development | — | — | — | — | — | $22.0M | — | — | — | $26.4M | — | — |
| Sales, general & admin | — | $217.7M | $144.9M | $167.8M | $153.6M | $88.5M | $151.6M | $181.0M | $143.9M | $106.7M | $169.7M | $164.6M |
| Total operating expenses | $184.3M | $192.6M | $205.0M | $185.1M | $185.9M | $156.5M | $173.8M | $259.3M | $143.9M | $175.4M | $179.8M | $170.0M |
| Operating income | $82.2M | $168.8M | $126.6M | $139.2M | $156.5M | $185.8M | $248.7M | $18.5M | $212.1M | $212.5M | $223.9M | $305.6M |
| Interest income | — | — | $45.0M | $44.3M | $43.7M | $44.2M | $47.3M | $43.3M | $45.2M | — | — | — |
| Interest expense | $42.4M | $47.5M | $45.0M | $44.3M | $43.7M | $44.2M | $47.3M | $43.3M | $45.2M | $40.3M | $35.7M | $29.1M |
| Income before taxes | $39.8M | $121.3M | $81.6M | $94.9M | $112.8M | $141.6M | $201.4M | −$24.8M | $166.9M | $172.2M | $188.2M | $276.5M |
| Income taxes | $16.9M | $13.9M | $30.3M | $36.0M | $47.9M | $21.4M | $57.5M | $13.4M | $50.8M | $50.7M | $43.1M | $66.2M |
| Net income | $29.1M | $109.6M | $54.0M | $62.1M | $64.3M | $119.9M | $146.0M | −$36.1M | $127.4M | $129.7M | $146.1M | $215.0M |
| EBITDA | $183.1M | $273.7M | $226.9M | $235.4M | $251.8M | $280.1M | $317.5M | $139.0M | $302.6M | $299.3M | $303.2M | $376.2M |
| EPS (diluted) | $0.75 | $0.87 | $0.72 | $0.69 | $0.74 | $0.87 | $1.10 | $0.66 | $0.73 | $0.78 | $1.20 | $1.45 |
| Gross margin | 16.0% | 20.4% | 21.2% | 20.0% | 20.6% | 20.4% | 27.8% | 17.4% | 21.5% | 24.1% | 27.7% | 27.5% |
| Operating margin | 4.9% | 9.5% | 8.1% | 8.6% | 9.4% | 11.1% | 16.4% | 1.2% | 12.8% | 13.2% | 15.4% | 17.6% |
| Net margin | 1.7% | 6.2% | 3.5% | 3.8% | 3.9% | 7.2% | 9.6% | −2.3% | 7.7% | 8.0% | 10.0% | 12.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LW's financial statements (latest annual report filed July 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LW financial results
In fiscal year 2026 (ended May 31, 2026), Lamb Weston reported revenue of $6.6 billion, up 2.5% from the year before. It had net income of $290.0 million (down 18.8%), a net profit margin of 4.4%. Diluted earnings per share came to $3.02. Over five years revenue grew at an average rate of 12.5% a year.
See the LW stock overview for the latest quote and news, or the LW chart for price history and technical indicators.
LW income statement FAQ
What is Lamb Weston's annual revenue?
Lamb Weston reported total revenue of $6.6 billion for fiscal year 2026, which ended on May 31, 2026. That was up 2.5% from $6.5 billion the previous year.
Is Lamb Weston profitable?
Yes. Lamb Weston reported net income of $290.0 million in fiscal 2026, a net profit margin of 4.4%; its operating margin was 8.9%.
What is Lamb Weston's gross margin?
Lamb Weston's gross margin was 20.6% in fiscal 2026: for every $100 of revenue, Lamb Weston kept $21 after the direct cost of its products and services.
How fast is Lamb Weston growing?
Revenue grew 12.5% a year on average over the last five fiscal years, from $3.7 billion to $6.6 billion.
What are Lamb Weston's earnings per share?
Lamb Weston earned $3.02 per diluted share in fiscal 2026, compared with $3.36 a year earlier.
When does Lamb Weston's fiscal year end?
Lamb Weston's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 24, 2026.