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

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 Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/