Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 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: 0-19254 LIFETIME BRANDS, INC. (Exact name of registrant as specified in its cha ...

Lifetime Brands, Inc. (NASDAQ:LCUT) Q4 2022 Earnings Conference Call March 9, 2023 11:00 AM ET Company Participants Andrew Squire - IR Rob Kay - CEO Larry Winoker - CFO Conference Call Participants Linda Bolton Weiser - D.A. Davidson Anthony Lebiedzinski - Sidoti & Co. Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time I’d like to inform all participants that their lines will be in a listen-only mode. After th ...

Financial Data and Key Metrics Changes - In Q3 2022, the company reported net sales of $186.86 million, down from $224.8 million in Q3 2021, reflecting a 17% decline [10][33] - Adjusted EBITDA for Q3 2022 was $18.8 million, compared to $29.3 million in the same period last year [10][31] - The net loss for Q3 2022 was $6.4 million, or $0.30 per diluted share, compared to a net income of $12.6 million, or $0.57 per diluted share in Q3 2021 [31] Business Line Data and Key Metrics Changes - U.S. segment sales increased by 13% to $172.8 million, while international segment sales decreased by 49% to $13.8 million [33] - The gross margin percentage for the U.S. segment was 36.6%, down from 37.7% in the previous year, while international gross margin improved to 32.6% from 31.7% [35] Market Data and Key Metrics Changes - The company noted a significant drop in market demand in Europe and Asia Pacific, exacerbated by inflation and geopolitical factors [15][34] - Retail inventory levels have been reported as low, with many major retailers experiencing in-stock levels in the 80s, compared to target levels in the lower- to mid-90s [47] Company Strategy and Development Direction - The company is focusing on restructuring its European operations to align with reduced demand and has implemented cost-saving measures [16][21] - There is an ongoing strategy to explore acquisition opportunities in core and adjacent product categories, with a focus on maintaining a strong balance sheet [20][43] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the macroeconomic environment impacting consumer demand, particularly in Europe, and has withdrawn guidance for the full year 2022 due to uncertainty [24][25] - The company remains optimistic about its core business and expects to see improvements in the bottom line performance of its international business following restructuring efforts [25][26] Other Important Information - The company recorded unusual charges, including a $5.1 million estimate for facility remediation and a $6.2 million non-cash impairment charge [39][40] - Liquidity remains strong, with $170.6 million available as of September 30, 2022, and a focus on reducing inventory levels [41][42] Q&A Session Summary Question: Can you provide insight into retail inventory levels? - Management indicated that retail inventory levels are low, with in-stock levels at major retailers in the 80s, which is below target levels [47][49] Question: How are point-of-sale trends performing? - In the U.S., point-of-sale has been steady, but shipments have declined more significantly, while in Europe, demand continues to decline [50][52] Question: What are the sales figures for S'well year-to-date? - S'well sales for the quarter were reported at $8 million, with year-to-date sales at approximately $12.4 million since the acquisition [55][59] Question: How is the restructuring in Europe expected to impact costs? - The restructuring is expected to primarily benefit SG&A costs, with a focus on right-sizing the infrastructure to match reduced demand [72] Question: Will the decline in ocean freight costs lead to improved gross margins? - Management indicated that while ocean freight costs are declining, the impact on gross margins will not be immediate and is expected to materialize in 2023 [75]

Table of Contents 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: September 30, 2022 or LIFETIME BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 11-2682486 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1000 Stewart Avenue, Garden City, New York, 11530 (Address o ...

Lifetime Brands, Inc. (NASDAQ:LCUT) Q2 2022 Results Conference Call August 4, 2022 11:00 AM ET Company Participants Andrew Squire - Investor Relations Rob Kay - Chief Executive Officer Larry Winoker - Chief Financial Officer Conference Call Participants Linda Bolton - D.A. Davidson Anthony Lebiedzinski - Sidoti& Company Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Second Quarter 2022 Earnings Conference Call. At this time, I would like to inform all participants that their li ...

Financial Performance - Consolidated net sales for Q2 2022 were $151.3 million, a decrease of $35.3 million or 18.9% compared to $186.6 million in Q2 2021[159]. - U.S. segment net sales for Q2 2022 were $137.2 million, down $29.4 million or 17.6% from $166.6 million in Q2 2021[160]. - Consolidated net sales for the six months ended June 30, 2022 were $334.0 million, a decrease of $48.3 million, or 12.6%, compared to $382.3 million for the same period in 2021[180]. - Net sales for the U.S. segment for the six months ended June 30, 2022 were $303.4 million, a decrease of $39.4 million, or 11.5%, compared to $342.8 million for the same period in 2021[181]. - Net sales for the International segment for the six months ended June 30, 2022 were $30.6 million, a decrease of $8.9 million, or 22.5%, compared to $39.5 million for the same period in 2021[186]. Product Category Sales - Kitchenware product category sales in the U.S. segment for Q2 2022 were $84.3 million, a decrease of $19.3 million or 18.6% compared to $103.6 million in Q2 2021[161]. - Tableware product category sales in the U.S. segment for Q2 2022 were $29.9 million, down $7.4 million or 19.8% from $37.3 million in Q2 2021[162]. - Home Solutions product category sales in the U.S. segment for Q2 2022 were $23.0 million, a decrease of $2.7 million or 10.5% compared to $25.7 million in Q2 2021[163]. Profitability and Margins - Gross margin for Q2 2022 was 36.5%, an increase from 35.4% in Q2 2021[158]. - Gross margin for the six months ended June 30, 2022 was $118.2 million, or 35.4%, compared to $132.2 million, or 34.6%, for the same period in 2021[187]. - Gross margin for the U.S. segment was $108.7 million, or 35.8%, for the six months ended June 30, 2022, compared to $119.4 million, or 34.8%, for the same period in 2021[188]. Expenses - Distribution expenses as a percentage of net sales increased to 11.5% in Q2 2022 from 10.1% in Q2 2021[158]. - Selling, general and administrative expenses as a percentage of net sales rose to 25.3% in Q2 2022 from 19.4% in Q2 2021[158]. - Selling, general and administrative expenses for the six months ended June 30, 2022 were $77.7 million, an increase of $3.4 million, or 4.6%, compared to $74.3 million for the same period in 2021[193]. - Selling, general and administrative expenses for the U.S. segment were $57.6 million for the six months ended June 30, 2022, compared to $53.8 million for the same period in 2021, with expenses as a percentage of net sales increasing to 19.0% from 15.7%[194]. Net Income and Loss - The company experienced a net loss of 2.3% in Q2 2022 compared to a net income of 3.1% in Q2 2021[158]. - The company reported a net income of $8.9 million for the twelve months ended June 30, 2022, compared to a net loss of $3.5 million for the quarter ended June 30, 2022[221]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $7.2 million as of June 30, 2022, down from $28.0 million at December 31, 2021, with working capital at $247.0 million compared to $270.8 million[204]. - Net cash used in operating activities was $8.9 million for the six months ended June 30, 2022, a decrease from net cash provided of $42.1 million in the same period of 2021[231]. - The company incurred $19.4 million in net cash used in investing activities for the six months ended June 30, 2022, primarily due to the acquisition of S'well for $18.0 million[232]. - The company experienced a significant decrease in cash flow from financing activities, providing $7.7 million in 2022 compared to a net cash used of $42.2 million in 2021[233]. Supply Chain and Operational Challenges - The company is facing challenges due to global supply chain disruptions and inflation, impacting costs and delivery times[146]. - Inventory turnover for the three months ended June 30, 2022, was 1.4 times (270 days), down from 2.3 times (162 days) in the same period of 2021, attributed to supply chain disruptions and inflation[205]. Debt and Interest - Interest expense for the six months ended June 30, 2022 was $7.5 million, a decrease from $7.8 million for the same period in 2021, due to lower debt outstanding on the Term Loan[197]. - The interest rate on outstanding borrowings under the ABL Agreement at June 30, 2022, ranged from 2.44% to 5.00%[213]. - The Term Loan facility bore interest at 4.6% as of June 30, 2022[214]. - The Company was in compliance with the covenants of the Debt Agreements at June 30, 2022[216]. Other Financial Metrics - Adjusted EBITDA for the last twelve months ended June 30, 2022, was $83.4 million, with capital expenditures of $1.5 million for the six months ended June 30, 2022[217]. - For the twelve months ended June 30, 2022, the adjusted EBITDA was $79.9 million, with a pro forma adjusted EBITDA of $83.4 million after accounting for projected synergies from the S'well acquisition[221]. - Mark to market gain on interest rate derivatives increased to $1.4 million for the six months ended June 30, 2022, compared to $0.5 million for the same period in 2021, due to rising interest rates[198]. - Income tax provision was $1.6 million for the six months ended June 30, 2022, with an effective tax rate of (69.8)%, compared to $4.2 million and 32.8% for the same period in 2021[199]. - Equity in earnings from Vasconia was $0.8 million for the six months ended June 30, 2022, up from $0.5 million in 2021, while Vasconia's income from operations decreased to $5.2 million from $10.3 million[200]. Shareholder Actions - The company authorized a stock repurchase program of up to $20.0 million, repurchasing 336,791 shares for a total cost of $4.2 million during the six months ended June 30, 2022[235].

Lifetime Brands, Inc. (NASDAQ:LCUT) Q1 2022 Earnings Conference Call May 5, 2022 11:00 AM ET Company Participants Andrew Squire - Investor Relations Rob Kay - Chief Executive Officer Larry Winoker - Chief Financial Officer Conference Call Participants Linda Bolton-Weiser - D.A. Davidson Anthony Lebiedzinski - Sidoti Operator Good morning, ladies and gentlemen and welcome to Lifetime Brands First Quarter 2022 Earnings Conference Call. [Operator Instructions] I would now like to introduce your host for today’ ...

Table of Contents 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: March 31, 2022 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: 0-19254 LIFETIME BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 11-2682486 (State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2021 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: 0-19254 LIFETIME BRANDS, INC. (Exact name of registrant as specified in its cha ...

Financial Data and Key Metrics Changes - The net loss for Q4 2021 was $600,000 or $0.03 per diluted share, compared to a net income of $15.2 million or $0.70 per diluted share in Q4 2020 [21] - Adjusted net income for Q4 2021 was $14.4 million or $0.65 per diluted share, down from $15.2 million or $0.70 per diluted share in 2020 [22] - Adjusted EBITDA for the year ended December 31, 2021, was $95.1 million, a 23% increase over 2020 [23] - Net sales in Q4 2021 grew 2.7% to $255.9 million, while full-year net sales increased by 12.2% compared to the prior year [23] Business Line Data and Key Metrics Changes - U.S. segment sales increased by $9.9 million to $230.1 million, driven by growth in kitchenware and tableware categories [23] - International segment sales decreased by $3.3 million to $25.7 million, impacted by Brexit disruptions and the Omicron variant [24] - E-commerce sales reached $43.4 million in Q4 and $136.5 million for the full year, though as a percentage of revenue, it slightly declined to 17.7% [10] Market Data and Key Metrics Changes - The international business saw a decline in Q4 due to Brexit and Omicron-related disruptions, but gross margin percentage improved due to transformation strategies [11][12] - The Asia-Pacific market experienced a 47.5% growth for the full year, contributing positively to the overall international business [12] Company Strategy and Development Direction - The company is focused on expanding its presence in adjacent categories such as outdoor, pet, and storage, with promising early results [15] - The acquisition of S'well Bottle is expected to enhance the hydration and storage categories, contributing approximately $4.5 million of incremental EBITDA annually [16] - The company plans to continue investing in inventory to mitigate supply chain risks and maintain market share [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic headwinds, including supply chain disruptions and inflationary pressures, but expressed confidence in the company's ability to manage these challenges [17][18] - The expectation is for normalization of supply chain costs in 2023, with continued strong results anticipated in the current environment [18] - Management indicated that the company is well-positioned for 2022, with a focus on executing growth strategies [19] Other Important Information - The company has restructured its distribution center operations to retain talent and maintain staffing levels [18] - The balance sheet remains strong, with net debt decreasing to $224.1 million, despite increased inventory investments [28] Q&A Session Summary Question: Why is guidance not issued for the next fiscal year? - Management clarified that guidance is typically issued in May, consistent with past practices [31][32] Question: What portion of the $20 million in missed shipments will come in the first quarter? - Management indicated that most of the missed shipments will shift into 2022, with some delays expected to affect future quarters [33] Question: What are the biggest bottlenecks affecting shipments? - Management noted that bottlenecks exist at various points, including shipping from Asia and delays at U.S. ports [34] Question: How has inventory changed, and what percentage is in transit? - Management confirmed that inventory levels have increased due to longer shipping times and strategic investments to maintain market share [35][36] Question: What role will the new distribution center in the Netherlands play? - The Netherlands facility will improve shipping times and reduce reliance on the UK facility, which has faced delays post-Brexit [38] Question: What are the expected impacts of the S'well acquisition? - The acquisition is expected to add approximately $4.5 million of EBITDA on an annualized basis, with revenue expectations around $30 million to $35 million [39][40] Question: How does the company view its net debt and cash uses for next year? - Management indicated a focus on generating cash and reducing net debt, with strategic investments planned for growth [63][67] Question: How does the company plan to maintain share gains? - Management emphasized the importance of retaining market share and expanding into new categories, particularly through successful product launches [72][73]