Lamb Weston Holdings, Inc.
Consolidated Statements of Earnings
(unaudited, in millions, except per share amounts)
| | | | | | | | | | | |
| Thirteen Weeks Ended |
| August 25, 2024 | | August 27, 2023 |
| Net sales | $ | 1,654.1 | | | $ | 1,665.3 | |
| Cost of sales (1) | 1,298.1 | | | 1,165.8 | |
| Gross profit | 356.0 | | | 499.5 | |
| Selling, general and administrative expenses (2) | 143.9 | | | 176.2 | |
| Income from operations | 212.1 | | | 323.3 | |
| Interest expense, net | 45.2 | | | 30.7 | |
| Income before income taxes and equity method earnings | 166.9 | | | 292.6 | |
| Income tax expense | 50.8 | | | 69.9 | |
| Equity method investment earnings | 11.3 | | | 12.1 | |
| Net income (3) | $ | 127.4 | | | $ | 234.8 | |
| Earnings per share: | | | |
| Basic | $ | 0.89 | | | $ | 1.61 | |
| Diluted | $ | 0.88 | | | $ | 1.60 | |
| Dividends declared per common share | $ | 0.36 | | | $ | 0.28 | |
| Weighted average common shares outstanding: | | | |
| Basic | 143.6 | | 145.7 |
| Diluted | 144.2 | | 146.6 |
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