LW revenue +2.5% on volume gains, but operating income fell 11% as price/mix pressure hit margins

Filed July 24, 2026 · Period ending May 31, 2026 · Compared to 10-K Jul 23, 2025 · ~2 min read

Key Changes

• high

  Operating income declined 11% to $591.1M despite 2.5% revenue growth, as 6% price/mix deterioration (competitive pricing, channel mix) more than offset 7% volume gains. International segment EBITDA fell $142.9M on EMEA losses, $33.1M excess-potato write-off, and Argentina start-up costs.

  MD&A: Operating Results verify on EDGAR →
• high

  Netherlands plant closure announced June 1, 2026, expecting $80-110M in pre-tax charges (≥20% cash) in FY27 for asset write-downs, inventory, and severance. Facility count reduced from 26 to 25; headcount down ~100 employees.

  Notes: Subsequent Events verify on EDGAR →
• high

  Securities litigation partially dismissed May 12, 2026: court dropped all pricing-practice claims and certain ERP-related claims, shortening class period. Plaintiffs filed second amended complaint June 11, 2026; defendants' response due August 10, 2026.

  Notes: Legal Proceedings verify on EDGAR →