Lamb Weston's Q3 2024 results were negatively impacted by a new ERP system transition in North America, leading to reduced visibility of finished goods inventories and affecting customer order fulfillment. Net sales increased by 16% to $1,458.3 million, but excluding the LW EMEA Acquisition, net sales decreased by 12%. The company updated its fiscal year 2024 outlook, lowering net sales, net income, and Adjusted EBITDA targets.
Net sales increased 16% to $1,458 million, including $357 million from the LW EMEA Acquisition.
Income from operations declined 16% to $224 million.
Adjusted Income from Operations declined from $269 million to $263 million.
The ERP transition negatively impacted fiscal third quarter net income by approximately $72 million and Adjusted EBITDA by approximately $95 million.
Lamb Weston updated its financial targets for fiscal 2024, including net sales, net income, Adjusted EBITDA, and capital expenditures.
Visualization of income flow from segment revenue to net income
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