Lifetime Brands, Inc. Reports Second Quarter 2025 Financial Results

Core Insights - Lifetime Brands, Inc. reported consolidated net sales of $131.9 million for the second quarter of 2025, a decrease of $9.8 million or 6.9% compared to the same period in 2024 [4][10] - The company maintained a gross margin of 38.6%, reflecting effective pricing strategies and supply chain management [3][5] - A significant non-cash goodwill impairment charge of $33.2 million was recorded, leading to a net loss of $39.7 million for the quarter [6][8] Financial Performance - Consolidated net sales for the six months ended June 30, 2025, were $271.9 million, down $12.0 million or 4.2% from $283.9 million in the same period in 2024 [10] - Adjusted EBITDA for the trailing twelve months ended June 30, 2025, was $50.7 million [15] - Selling, general and administrative expenses decreased by $8.9 million or 11.4% to $69.0 million for the six months ended June 30, 2025 [11] Operational Highlights - The company reported a loss from operations of $(36.1) million for the six months ended June 30, 2025, compared to income from operations of $3.0 million in the same period in 2024 [12][14] - The liquidity position as of June 30, 2025, was $96.9 million, consisting of $12.0 million in cash and cash equivalents and $65.7 million available under the ABL Agreement [16] - The company declared a quarterly dividend of $0.0425 per share, payable on November 14, 2025 [17] Market Context - The company faced macroeconomic pressures and tariff-related headwinds, yet it remains optimistic about long-term growth prospects [3] - The gross margin for the six months ended June 30, 2025, was 37.3%, down from 39.5% in the same period in 2024 [11] - The company’s goodwill balance has been reduced to zero, which is expected to lead to a more consistent alignment between GAAP accounting earnings and non-GAAP adjusted earnings in the future [6][13]