Yet Another Value Podcast

AJ Secrist from Firstlight Management on Lamb Weston $LW

Dec 8, 2022

58:42

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Episode notes

Introduction

2min

Lamb West: The Best Company in the Sexy Industry

3min

The Three Player Oligopoly in the Cane Industry

5min

The Value of LW Stock

3min

The Markets Got This Price as a Nice Opportunity

5min

The Importance of Margin Outlook in Lamb

2min

Why Were Cogs Up 20% Last Year?

4min

The Columbia Basin's Competitive Advantage in Potato Production

3min

McDonald's Global Margin

3min

10.

The Advantages of Scale in the Frozen Food Industry

2min

11.

The Future of McDonald's

4min

12.

The Supply Constraint Story in the Potato Industry

3min

13.

The Stock's Capital Allocation Policy

2min

14.

The European JB's Leverage Target

3min

15.

The Company's Internal Plan for Margin Expansion

2min

16.

The End Games for the French Fry Company

3min

17.

The Warren Buffett Business

3min

18.

The Importance of Branded CPG Food

3min

19.

Lamb's Share in Emerging Markets

2min

20.

The Consumer Preferences for French Fries

2min

21.

The Risks of Frozen French Fries

3min

AJ Secrist from Firstlight Management discussed his thesis for Lamb Weston (LW). LW is a very strong business, and AJ thinks the market is missing just how much margin upside there is as COVID era deals with large customers reprice and the company laps 2021’s disastrous potato crop.

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