Quarterly ResultJun 9, 2026, 04:27 PM
Lakeland Industries Q1 Net Sales $47.4M; Fire Services Up 11%
AI Summary
Lakeland Industries announced its first quarter fiscal year 2027 results, reporting a modest 1.4% increase in net sales to $47.4 million, driven by an 11% growth in its Fire Services segment. The company saw an improvement in Adjusted EBITDA excluding FX to $1.1 million and a sequential increase in adjusted gross margin to 33.6%. Key strategic moves included the divestiture of the HPFR and HiViz product lines, generating $13.2 million in cash, and a significant potential award for its Eagle subsidiary under a UK framework. While net income turned positive at $0.4 million, the company faces ongoing transitional items and operational execution challenges.
Key Highlights
- Lakeland Industries reported Q1 FY27 net sales of $47.4 million, a 1.4% increase year-over-year.
- Fire Services segment sales grew 11% to $23.4 million.
- Adjusted EBITDA excluding FX improved to $1.1 million from $0.6 million in Q1 FY26.
- Adjusted gross margin increased sequentially to 33.6% from 33.5% in Q4 FY26.
- The company completed the sale of HPFR and HiViz product lines for $13.2 million in cash proceeds.
- Eagle Technical Products received notification of an intended award under the UK National Fire Chiefs Council Framework with a potential value of up to £220 million over seven years.
- Net income for the quarter was $0.4 million, compared to a net loss of $3.9 million in the prior year.
Price Impact
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