Lifetime Brands, Inc. Reports Third Quarter 2025 Financial Results

Core Insights - The company is well-positioned to capitalize on industry dislocation despite current tariff volatility, leveraging a fully implemented tariff-mitigation strategy and disciplined cost management [3][4][14] - The financial results for the third quarter of 2025 show a decrease in consolidated net sales and gross margin compared to the same period in 2024, indicating challenges in the current market environment [4][5][6] - The company continues to explore M&A opportunities to strengthen market share and competitive positioning as the broader market stabilizes [3][14] Financial Performance - Consolidated net sales for Q3 2025 were $171.9 million, a decrease of $11.9 million or 6.5% from $183.8 million in Q3 2024 [4] - Gross margin for Q3 2025 was $60.4 million, or 35.1%, down from $67.4 million, or 36.7%, in Q3 2024 [5] - The 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 [6] Year-to-Date Results - For the nine months ended September 30, 2025, consolidated net sales were $443.9 million, a decrease of $23.8 million or 5.1% from $467.7 million in the same period of 2024 [7] - Gross margin for the nine months ended September 30, 2025, was $161.9 million, or 36.5%, compared to $179.5 million, or 38.4%, in the same period of 2024 [8] - The net loss for the nine months ended September 30, 2025, was $(45.1) million, or $(2.08) per diluted share, compared to a net loss of $(24.1) million, or $(1.12) per diluted share, in the same period of 2024 [11] Cost Management and Strategic Initiatives - Selling, general and administrative expenses for Q3 2025 were $35.5 million, a decrease of $3.3 million or 8.5% from $38.8 million in Q3 2024 [5] - The company reported an adjusted income from operations of $11.5 million for Q3 2025, down from $13.2 million in Q3 2024 [6][10] - Project Concord is expected to enhance efficiency and improve long-term performance in the International segment [14] Liquidity and Financial Position - As of September 30, 2025, the company had liquidity of $50.9 million, consisting of $12.1 million in cash and cash equivalents, $25.2 million available under the ABL Agreement, and $13.6 million under the Receivables Purchase Agreement [13] - The company declared a quarterly dividend of $0.0425 per share, payable on February 13, 2026 [15]