Lifetime Brands(US:LCUT)2025-11-06 13:03Financial Performance - Consolidated net sales for Q3 2025 were $171.9 million, a decrease of $11.9 million, or 6.5%, compared to Q3 2024[3] - Gross margin for Q3 2025 was $60.4 million, or 35.1%, down from $67.4 million, or 36.7%, in Q3 2024[4] - Net loss for Q3 2025 was $(1.2) million, or $(0.05) per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, in Q3 2024[5] - Adjusted income from operations for Q3 2025 was $11.5 million, down from $13.2 million in Q3 2024[5] - Consolidated net sales for the nine months ended September 30, 2025 were $443.9 million, a decrease of $23.8 million, or 5.1%, compared to the same period in 2024[6] - Gross margin for the nine months ended September 30, 2025 was $161.9 million, or 36.5%, down from $179.5 million, or 38.4%, in the same period in 2024[6] - The net loss for the nine months ended September 30, 2025, was $45.089 million, compared to a net loss of $24.083 million in 2024, indicating an increase in losses of 87.2%[26] - For the three months ended September 30, 2025, the adjusted net income was $2,505,000, compared to $4,505,000 in 2024, reflecting a decrease of 44.4%[30] - For the nine months ended September 30, 2025, the adjusted net loss was $(5,406,000), compared to an adjusted net income of $674,000 in 2024[30] Expenses and Costs - Selling, general and administrative expenses for Q3 2025 were $35.5 million, a decrease of $3.3 million, or 8.5%, compared to Q3 2024[4] - Adjusted EBITDA for the twelve months ended September 30, 2025, was $47.217 million, compared to $22.973 million for the twelve months ended December 31, 2024, reflecting a significant increase[28] - The company reported a goodwill impairment of $33.237 million for the nine months ended September 30, 2025, which was not present in the same period in 2024[22] Assets and Liabilities - Cash and cash equivalents at the end of the period increased to $12.125 million from $5.984 million, representing a significant increase of 102.4%[26] - Total current assets as of September 30, 2025, were $374.968 million, slightly up from $373.568 million at the end of 2024[24] - Total liabilities decreased to $396.479 million as of September 30, 2025, from $404.387 million at the end of 2024, a reduction of 2.0%[24] - The company’s inventory increased to $221.185 million as of September 30, 2025, compared to $202.408 million at the end of 2024, marking an increase of 9.3%[24] Sales Breakdown - Net sales for the three months ended September 30, 2025, were $171.912 million, a decrease of 6.5% compared to $183.837 million for the same period in 2024[22] - The U.S. net sales for the three months ended September 30, 2025, were $158,121,000, down 7.1% from $170,222,000 in 2024[35] - The international net sales for the nine months ended September 30, 2025, increased by 0.9% to $37,913,000 compared to $36,540,000 in 2024[35] - The total net sales for the nine months ended September 30, 2025, were $443,859,000, a decrease of $23,886,000 or 5.3% from $467,745,000 in 2024[35] Future Outlook - The company will refrain from issuing formal financial guidance for 2025 due to ongoing uncertainty surrounding tariffs and trade dynamics[12] - The company is evaluating M&A opportunities to strengthen market share and long-term competitive positioning[2] Dividends - The Board of Directors declared a quarterly dividend of $0.0425 per share, payable on February 13, 2026[13] Share Information - The diluted weighted-average shares outstanding for the three months ended September 30, 2025, were 21,834, compared to 21,610 in 2024[31] - The adjusted diluted income per common share for the three months ended September 30, 2025, was $0.11, down from $0.21 in 2024, a decline of 47.6%[30]