AJ Secrist from Firstlight Management is back on the podcast today to provide an update on Lamb Weston Holdings Inc. (NYSE: LW), a key supplier of french fries to fast-food chains, following their recent quarterly update and in advance of their investor day.

Check out his first appearance on YAVP laying out his $LW thesis (December 2022): https://youtu.be/lNY8sQVttks

Chapters:

[0:00] Introduction + Episode sponsor: Stream by Alphasense

[1:24] Update on Lamb Weston Holdings $LW since AJ's last appearance on YAVP in December 2022; how the stock has performed / fundamental issues

[5:44] $LW recent conference call: French fry attachment rate and why it matters / inventory destocking

[13:07] Current valuation for $LW and justifying AJ's $7 EPS thesis / key drivers of value

[20:30] Gross margins and SG&A expenses

[23:45] Expectations from the $LW investor day / should they be doing an investor day?

[31:43] Buybacks

[34:18] $LW final thoughts / bear case?

Today's episode is sponsored by: Stream by Alphasense

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Firstlight Management's AJ Secrist provides update on $LW thesis post-earnings and pre-Investor Day

Yet Another Value Podcast