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Frozen french fries taste test for feature in Food.
Frozen french fries photographed for Food in Washington, DC.

Lamb Weston soars on big earnings beat and cost-cutting plans

The french fry maker said its turnaround plan will cook up hundreds of millions of savings in the coming years.

Nia Warfield

Lamb Weston shares jumped 17% Wednesday after the frozen potato producer topped Q4 expectations and doubled down on its cost-cutting plan.

Diluted earnings per share came in at $0.85. Excluding one-time items, adjusted EPS were $0.87, well above the $0.63 analysts expected. Meanwhile, revenue hit $1.68 billion, beating Wall Street’s forecast of $1.59 billion.

Lamb Weston is one of the world’s largest frozen potato processors. The quarter got a boost from an 8% jump in volume thanks to new contract wins, though that was partly weighed down by slower global restaurant traffic.

As the company faces some operational pressure, it’s working to reset costs and streamline the business. Lamb Weston also outlined additional cost cutting, expecting to rack up at least $250 million of savings by the end of fiscal 2028.

In a note Wednesday, Barclays analysts said the company’s better-than-expected volume growth helps restore credibility, while its clearer cost-cutting targets offer “incremental visibility” into a turnaround. The firm has an overweight or “buy” rating on the stock with a $61 price target, about 5% above current trading levels.

Looking ahead, Lamb Weston expects a stronger second half of the year, with full-year net sales projected between $6.35 billion and $6.55 billion — largely in line with consensus estimates of $6.40 billion.

Lamb Weston shares are still down about 13% year to date.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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