Fiscal First Quarter 2026 Financial Results Conference Call
June 9, 2025
NASDAQ: LAKE
Protect Your People®
1
Agenda:
On the Call Today:
COMPANY UPDATES
FINANCIAL RESULTS
KEY TAKEAWAYS
Q&A
CLOSING SUMMARY
James M. Jenkins President, Chief Executive Officer and
Executive Chairman
Roger D. Shannon Chief Financial Officer and
Secretary
Q1 2026 Operational & Business Updates
Net sales increased 29% to a record $46.7 million led by a 100% increase in Fire Services products
U.S. net sales increased 42% to $22.5 million and Europe net
sales increased 102% to $12.1 million
Adjusted EBITDA excluding FX was $0.6 million, a decrease of
$3.2 million, or 84%, compared with $3.8 million for the comparable year ago period
Gross profit as a percentage of net sales decreased to 33.5% from 44.6% for the comparable year ago period
SG&A as reported increased $6.3M vs. Q1-FY25; Organic Cash SG&A increased year-over-year by $1.0M due to labor costs, Trade shows, and Outbound Freight
Capital Expenditures of $1.2 million principally relate to capital investment in our new ERP system
Tariff Environment
Q1'26 represented the impact of tariff uncertainty and
associated mitigation strategies to build inventory
Improving global tariff environment and tapering in mitigation strategies positions the company for sequential growth in gross margin and adjusted EBITDA excluding FX in Q2'26
Tariffs, uncertainties delayed decisions in the Canadian and Latin American industrial spaces, where margins typically exceed the company average
Increase in net inventories of $3.1 million ahead of imposed tariffs.
Inventories on April 30, 2025, totaled $85.8 million.
Looking Ahead
Reiterate previously issued FY 2026 revenue and adjusted EBITDA excluding FX guidance
Strategic M&A pipeline remains strong and actively engaged in strategic discussions aligned with growth strategy
Maintain a strong balance sheet and expect a meaningful cash infusion from non-core asset disposals
Q1 2026 FINANCIAL RESULTS
Q1-FY26 Revenue by Product and Geography
USA
9%
7%
8%
7%
44%
25%
Europe Other N.A. Asia
Latin America
Other Foreign
2%
12%
28%
13%
45%
Disposables Fire Chemical
FR/AR
Performance High Visibility
Financial Highlights
Three Months Ended Apr. 30
$ in Million
2025
2024
Revenue $46.7 $36.3
Gross Margin 33.5% 44.6%
Operating Expenses (20.3) (14.0)
Net Income (Loss) (3.9) 1.7
Adjusted EBITDA excluding FX1 0.6 3.8
Adjusted EBITDA
excluding FX Margin1
1.3% 10.5%
Apr. 30, 2025 Jan. 31, 2025
Cash & Cash Equivalents $18.6 $17.5
Protect Your People® 1) See reconciliation tables for non-GAAP in appendix
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Lakeland Industries Inc. published this content on June 20, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 20, 2025 at 21:54 UTC.
Lakeland Industries, Inc. manufactures and sells a line of industrial protective clothing and accessories for the industrial and public protective clothing market. Its product categories include firefighter protective apparel and accessories, high-end chemical protective suits, limited use/disposable protective clothing, durable woven garments, high visibility clothing and gloves and sleeves. Its products are sold globally by its in-house sales teams, its customer service group, and authorized independent sales representatives to a network of over 2,000 safety and industrial supply distributors. Its authorized distributors supply end users, such as integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical and high technology electronics manufacturers and scientific, medical laboratories and the utilities industry. It offers structural firefighting, wildland firefighting and technical rescue helmets.
