Lamb Weston Holdings, Inc. (NYSE:LW) Q3 2024 Earnings Call Transcript

William Reuter: Got it. And actually, I have one more. I think the ERP implementation that’s going on right now is just in North America and that you’ll be doing it in international regions in the future. Is that right?

Bernadette Madarieta: That’s correct. So we did the central systems in North America. The next phase will be plant in North America. And then after that, we will go international.

Operator: We’ll go next to Carla Casella with JPMorgan.

Carla Casella: In the past, you’ve talked about M&A and internationally. Is that all kind of off the table for now until you get the ERP system done? Or are you still looking at opportunities? And can you just talk about what you’re seeing in the market?

Tom Werner: Yes, it’s not off the table. And I’ve been pretty clear on this that we’re always continuing to evaluate international acquisition opportunities, certainly, the timing of those depends on — it depends on the other side of the table, so to speak. So you can’t always time these perfectly and we’ll continue to evaluate it. And if something presents itself, based on what’s going on today, we’re going to continue to move forward. But we’ve got to be mindful about what’s going on in the organization. But you can’t predict when these things are going to happen, we have a sense of it but we’re absolutely going to continue to pursue those.

Carla Casella: And has the market — I mean, given the kind of softness in the QSR today internationally, is the market opening up more? Are there more — are you getting more looks in the past? Anything you can give us on the market?

Tom Werner: Yes. I mean I’m not going to get into a lot of specifics on that question obviously. But the thing to remember is, we have a belief in the long-term resilience of this category and have. And yes, we’re dealing with some softness right now, we believe the category is going to return globally. And we’re seeing some pockets of international markets that are performing well, as I stated in my prepared remarks. So over the long term, if something presents itself, we’re absolutely going to evaluate it.

Operator: With no additional questions in queue. At this time, I’d like to turn the call back over to our speakers for any additional or closing remarks.

Dexter Congbalay: Hi, this is Dexter. If you have any follow-up questions or like to schedule a call, please send me an e-mail and we can do so. Other than that, have a good day and thanks for joining the call.

Operator: That will conclude today’s call. We appreciate your participation.