Lamb Weston Holdings, Inc. reported first-quarter fiscal 2026 net sales of $1.66 billion, exceeding estimates. Adjusted net income was $103 million, with earnings per share of 74 cents, beating estimates. CEO Mike Smith highlighted volume growth and positive momentum.

Overall volume increased by 6%, but price/mix declined by 7%. Gross profit decreased, and SG&A costs rose, while North America sales dropped by 2%. International sales rose by 4%, with adjusted EBITDA improving.

Operating cash flow increased, and capital spending dropped significantly. The company reaffirmed fiscal 2026 guidance and declared a dividend of 37 cents per share. Results included pre-tax charges tied to cost savings program.

LW shares are trading higher by 6.99% at $59.56. The company’s strategy is starting to show positive results, with a strong start to the fiscal year. The board declared a quarterly dividend and reaffirmed guidance for fiscal 2026.

Read more at Yahoo Finance: Lamb Weston Reaffirms Outlook As CEO Says Strategy Starting To Pay Off