Lamb Weston Holdings, Inc.
Q3 2022 Earnings Call
Apr 07, 2022, 10:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Please stand by. We're about to begin. Good day, and welcome to the Lamb Weston third quarter 2022 earnings call. Today's call is being recorded.
At this time, I'd like to turn the call over to Dexter Congbalay, VP of investor relations of Lamb Weston. Please go ahead.
Dexter Congbalay -- Vice President of Investor Relations
Good morning, and thank you for joining us for Lamb Weston's third quarter 2022 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. These statements 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. 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; and Bernadette Madarieta, our chief financial officer. Tom will provide some comments on our performance, as well as an overview of the current operating environment. Bernadette will then provide some details on our third quarter results and updated fiscal 2022 outlook.
With that, let me now turn the call over to Tom.
Tom Werner -- President and Chief Executive Officer
Thank you, Dexter. Good morning, and thank you for joining our call today. First of all, I want to thank all my colleagues for their continued dedication, and perseverance to keep Lamb Weston as an industry leader and a strong business partner. Our solid financial results in the third quarter are a direct result of how well our manufacturing, supply chain, and commercial teams have remained focused on improving our operations, and serving our customers during a challenging macro environment, which includes the impact of an exceptionally poor potato crop.
We continue to be encouraged by strong french fry demand and feel good about our continued progress. Specifically, in the third quarter, we delivered solid sales growth and drove sequential, and year-over-year gross margin expansion. And we did this despite the impact of Omicron variant slowing restaurant traffic, and disrupting our production and distribution operations more than we expected. We benefited from our previously announced pricing actions to mitigate the significant cost inflation across our supply chain.