2024-04-04 15:58:11 ET
Lamb Weston Holdings, Inc. (LW)
Q3 2024 Earnings Conference Call
April 4, 2024 10:00 ET
Company Participants
Dexter Congbalay - Investor Relations
Tom Werner - President & Chief Executive Officer
Bernadette Madarieta - Chief Financial Officer
Conference Call Participants
Andrew Lazar - Barclays
Peter Galbo - Bank of America
Adam Samuelson - Goldman Sachs
Tom Palmer - Citi
Robert Moskow - TD Cowen
Rob Dickerson - Jefferies
Matt Smith - Stifel
Marc Torrente - Wells Fargo Securities
Max Gumport - BNP Paribas
William Reuter - Bank of America
Carla Casella - JPMorgan
Presentation
Operator
Good day and welcome to the Lamb Weston Third Quarter Earnings Call. Today's conference is being recorded.
At this time, I'd like to turn the call over to Dexter Congbalay. Please go ahead.
Dexter Congbalay
Good morning and thank you for joining us for Lamb Weston's third quarter 2024 earnings call. This morning, we issued our earnings press release which is available on our website, lambweston.com.
Please note that during our remarks, we'll make some forward-looking statements about the company's expected performance that are based on how we see things today. Actual results may differ materially due to risks and uncertainties. Please refer to the cautionary statements and risk factors contained in our SEC filings for more details on our forward-looking statements. Some of today's remarks include non-GAAP financial measures. These non-GAAP financial measures should not be considered a replacement for and should be read together with our GAAP results. You can find the GAAP to non-GAAP reconciliations in our earnings release. With me today are Tom Werner, our President and Chief Executive Officer; Bernadette Madarieta, our Chief Financial Officer. Tom will provide an overview of the ERP transition, the current demand environment and the status of this year's potato crop. Bernadette will then provide details on our third quarter results as well as our updated outlook for the remainder of fiscal 2024.
With that, let me now turn the call over to Tom.
Tom Werner
Thank you, Dexter. Good morning and thank you for joining our call today. This was a challenging quarter as we transition certain central systems and functions in North America from a decades-old legacy enterprise resource planning system to SAP. The transition is the first step towards a multiyear global rollout. Among other areas, the scope of this transition affected receiving and processing customer orders, trade pricing and promotion management, managing inventories and warehousing, scheduling, transportation and shipments, invoicing customers and treasury and cash management....
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Lamb Weston Holdings, Inc. (LW) Q3 2024 Earnings Call Transcript