Net income and Adjusted EBITDA including joint ventures to be pressured during the first half, and normalize in the second half
EAGLE, Idaho--(BUSINESS WIRE)-- Lamb Weston Holdings, Inc. (NYSE: LW) announced today its fiscal fourth quarter and full year 2021 results and provided its outlook for fiscal 2022.
“Fiscal 2021 was the most challenging operating environment in our company’s history, but we believe the worst of the COVID-19 pandemic’s effect on our business is behind us,” said Tom Werner, President and CEO. “I’m proud of how the entire Lamb Weston team has been navigating through the pandemic by prioritizing the health and welfare of our employees, maintaining product safety, and servicing our customers. We’re encouraged by the pace of recovery in U.S. restaurant traffic, especially at full-service restaurants, and continue to expect that overall U.S. french fry demand will return to pre-pandemic levels around the end of calendar 2021. We also anticipate that demand in Europe and in our key export markets will steadily improve as vaccines become more widely available and vaccination rates increase in those markets.
“While french fry demand trends have become more predictable compared to a year ago, the lingering effects of the pandemic and the sharp recovery of the broader economy in the U.S. has disrupted supply chain operations across all industries, including ours. While we expect these disruptions to be transitory, we believe these challenges, along with notable input and transportation cost inflation and the impact of a tighter labor market, will continue to pressure our earnings in the near term. However, we expect these pressures will ease as we anticipate gradual improvements in our supply chain operations as global economic conditions continue to stabilize, and as we look to pass through rising costs.
“Having seen the resiliency of french fry demand during the pandemic, we remain confident in the long-term health and growth prospects for the global category, and are committed to supporting this growth and our customers by investing in new capacity. Along with driving margin improvement by improving product and customer mix, pricing to offset inflation, and executing on our lean manufacturing initiatives, we believe we’re well-positioned to drive sustainable, profitable growth and create value for our stakeholders over the long term.”
Click here to read the full press release.
For more information: 
Shelby Stoolman
Lamb Weston Holdings, Inc.
Tel.: +1 208-424-5461
Email: [email protected]
