Lamb Weston Holdings Inc Q2 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Thomas Hinsdale Palmer - JPMorgan Chase & Co, Research Division - Analyst : In the press release and in the prepared remarks, you mentioned your view that the overall frozen potato industry demand could approach pre-pandemic levels by the end of this calendar year. I just wanted to clarify how this would apply to Lamb Weston. Would you assume that the company's sales trends would be comparable to the overall industry? Or are there reasons why you might diverge from the industry, either because of a different channel mix than the industry or because of some customer wins or losses that have been taking place?

Question: Thomas Hinsdale Palmer - JPMorgan Chase & Co, Research Division - Analyst : Okay. So just to clarify, what you mean by that is you think you could either grow with the industry, if not better when you say return to pre-pandemic?

Question: Thomas Hinsdale Palmer - JPMorgan Chase & Co, Research Division - Analyst : Okay. And then just wanted to ask, you wrapped up prepared remarks with the commentary on contract renegotiations. I just wanted to clarify exactly what this means. So you're saying that the contracts that were renegotiated this year were flat. And then should we assume that the -- the contracts that roll over have the typical price increases that are normally baked into them? And so the