Lakeland's Q1 Earnings Miss Estimates, Sales Increase Y/Y

Core Viewpoint - Lakeland Industries, Inc. reported a first-quarter fiscal 2026 adjusted loss of 41 cents per share, missing the Zacks Consensus Estimate of 27 cents, while net sales of $46.7 million also fell short of the expected $49 million but showed a year-over-year increase of 28.7% [1] Sales Performance - Domestic sales reached $20.7 million, reflecting a year-over-year increase of 44.8% - International sales grew by 18.2% year over year to $26.0 million [1] Costs & Margins - Cost of sales was $31.1 million, up 54.5% year over year - Operating expenses increased to $20.3 million, a rise of 45% - Interest expenses rose to $583 thousand from $172 thousand in the previous year - The net loss for the quarter was $3.9 million, compared to a net income of $1.7 million a year ago - Gross margin decreased to 33.5% from 44.6% in the year-ago quarter [2] Adjusted EBITDA - Adjusted EBITDA, excluding foreign exchange losses, was $0.6 million, down from $3.8 million in the same period last year [3] Balance Sheet/Cash Flow - Cash and cash equivalents at the end of the quarter were $18.6 million, up from $17.5 million at the end of January 2025 - Total liabilities increased to $74.7 million from $65.9 million at the end of fiscal 2025 - The company used $4.8 million in operating activities, compared to $0.3 million cash provided in the year-ago quarter [4] Stockholders' Equity - Total stockholders' equity at the end of the quarter was $143.4 million, down from $146.6 million a year ago [5] Guidance - For fiscal 2026, Lakeland expects revenues in the range of $210-$220 million and an adjusted EBITDA between $24-$29 million [6]