Lakeland Q2 Sales Miss as Industrial Revenue Falls 10.8%
LAKE sits 43% above its 52-week low of $7.15.
Summary
Lakeland Industries reported fiscal Q2 sales of $50.10 million, missing consensus of $51.36 million and down 4.5% year-over-year. The decline was driven by a 10.8% drop in industrial revenue, though excluding divested product lines it rose about 3%. Fire Products revenue grew 2% year-over-year and 12% sequentially, and Fire Services revenue jumped 78% as the company expanded its service footprint. The company posted a Q2 loss per share of $0.50, but adjusted EBITDA excluding FX more than doubled sequentially. Management expects margin improvement to continue in the second half of fiscal 2027 and anticipates a return to more consistent growth. This follows the August 25 announcement of new contract awards across Latin America, indicating ongoing demand for fire safety products.
At the time of this announcement, LAKE was trading at $10.26 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $110.2M. The 52-week trading range was $7.15 to $18.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.