UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 0-15535 LAKELAND INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) (State o ...

Financial Data and Key Metrics Changes - Net sales for Q3 2025 increased by 45% to $45.8 million compared to $31.7 million in Q3 2024, with organic revenue comprising 70% of total sales and 25% from recent acquisitions [11][15][16] - Gross profit rose by 39% to $18.6 million, driven by strong revenue growth and organic margin improvement, although gross margin as a percentage of net sales decreased to 40.6% from 42.2% year-over-year [11][17] - Operating expenses increased by 82.5% to $17.7 million, leading to an operating profit of $800,000, down from $3.6 million in Q3 2024, resulting in operating margins of 1.8% compared to 11.4% [18] - Net income was $1 million or $0.01 per diluted share, down from $2.6 million or $0.34 per diluted share in Q3 2024 [18] - Adjusted EBITDA excluding FX for Q3 2025 was $4.7 million, an increase of 4.9% compared to $4.5 million in Q3 2024 [19] Business Line Data and Key Metrics Changes - Fire Services segment saw a significant increase in sales, with a 245% year-over-year growth, contributing to a total of $13.7 million in revenue [10][25] - Industrial product lines grew by 1.1% year-over-year, led by chemical products and high-performance wear, while high-visibility products decreased by 33% [25] - Disposables accounted for 27% of revenue, Fire products for 42%, and chemical products for 11% [26] Market Data and Key Metrics Changes - Domestic sales were $15.4 million (34% of total revenues), while international sales were $30.4 million (66% of total revenues), indicating a shift from the previous year where domestic sales were 48% of total [16] - LATAM operations experienced a 20% increase in sales year-over-year, now representing 11% of total sales [22] - European revenue grew by 350% to $14.4 million, driven by acquisitions and strong sales in the region [24] Company Strategy and Development Direction - The company aims to leverage its leading market position in fire protection and pursue acquisitions in the fragmented fire industry to accelerate growth in the $2 billion fire protection sector [6][7] - Long-term strategy focuses on growing both Fire Services and industrial PPE verticals while maintaining operational efficiencies to achieve higher margins [6] - The management team is confident in the growth strategy and expanding market opportunities, reaffirming guidance for fiscal year 2025 revenue of at least $165 million and adjusted EBITDA of at least $18 million [13][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving high-single-digit organic growth, supported by strong sales in Fire Services and a rebound in U.S. sales [31] - The company anticipates significant releases of profit in inventory in Q4, which will positively impact margins and EBITDA [45] - Management highlighted the importance of addressing the multi-year backlog from acquisitions and expects to ship 80% to 90% of it in Q4 [58] Other Important Information - The company ended the quarter with cash and cash equivalents of approximately $15.8 million and long-term debt of $31.1 million, reflecting a strategic inventory buildup for anticipated sales [27] - Capital expenditures for the nine months ended October 31, 2024, were $1.5 million, primarily for manufacturing equipment [29] Q&A Session Summary Question: Concerns about achieving revenue guidance and EBITDA - Management acknowledged the need for either exceeding revenue guidance or significantly improving margins to meet EBITDA expectations, citing inventory adjustments and profit releases in Q4 [41][45] Question: Transitioning with Line Drive agreement - Management reported improved performance and growing pipeline with Line Drive, indicating positive momentum [50] Question: Multi-year backlog from acquisitions - Management expects to ship 80% to 90% of the multi-year backlog in Q4, with significant ramp-up in production and inventory management [58] Question: Opportunities in services and geographic reach - Management is actively pursuing service opportunities, particularly in LATAM, and sees it as a growth area for the future [64]

Lakeland Industries (LAKE) came out with quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -97.50%. A quarter ago, it was expected that this safety garments manufacturer would post earnings of $0.42 per share when it actually produced a loss of $0.19, delivering a surprise of -145.24%.Over the last f ...

EX-99.1 2 lake_ex991.htm PRESS RELEASE EXHIBIT 99.1 Lakeland Industries Reports Fiscal Year 2025 Third Quarter Financial Results Net Sales Increased 45% to a Record $45.8 Million Led by a 245% Increase in Fire Services Products Gross Profit Increased 39% to $18.6 Million Due to Strong Organic Revenue Growth and Organic Margin Improvement Reiterates Expectations for FY 2025 Revenue of at Least $165 Million and Adjusted EBITDA Excluding FX of at Least $18 million Management to Host Conference Call Today at 4: ...

I wrote the article "Lakeland: Trading At A Discount Despite Improving Financials" on 3rd September 2023, based on an investment thesis that Lakeland (NASDAQ: LAKE ) has the potential for upside. The stock was trading at $15.22 and within a yearEx-Equity Research Analyst with a decade of experience in analyzing US equities. My investment analysis is based on a top-down approach and focuses extensively on company reports to avoid any market noise. I look for a big and growing addressable market, unique produ ...

The last time I wrote an article about Lakeland Industries, Inc. (NASDAQ: LAKE ) was way back in February 2022. Considering that this is now December 2024, we are coming pretty close to the three-year mark. Given the amountCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analy ...

Stock Symbol: AEM (NYSE and TSX) TORONTO, Sept. 20, 2024 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it has filed an updated technical report for the Detour Lake mine in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The technical report is available on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.agnicoeagle.com). About Agnico Eagle Agnico Eagle is a Canadian based and led ...

Walter Bibikow/DigitalVision via Getty Images Lakeland Industries, Inc.'s (NASDAQ:LAKE) posted negative 2Q25 results. The company grew revenues thanks to acquisitions, but on an organic basis, its sales declined. This was in part blamed on a distributor transition and shipment timing, so the company maintained guidance. The decrease in organic sales was complemented by a gross margin contraction (the company also says it's transitory) and SG&A increasing 60% YoY (half of it being transitory). The result was ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ COMMISSION FILE NUMBER: 0-15535 LAKELAND INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) Delaware 13 ...

Lakeland Industries, Inc. (NASDAQ:LAKE) Q2 2025 Earnings Conference Call September 5, 2024 12:00 PM ET Company Participants Jim Jenkins - President, CEO and Executive Chairman Roger Shannon - CFO Conference Call Participants Gerry Sweeney - ROTH Capital Matthew Galinko - Maxim Group Operator Good day. And welcome to the Lakeland Industries’ Fiscal 2025 Second Quarter Financial Results Conference Call. All lines have been placed on a listen-only mode. And the floor will be open for your questions and comment ...