Quarterly ResultAug 6, 2026, 04:27 PM
LIFETIME BRANDS Q2 Net Income $19.61M; Sales Up 7.3%
AI Summary
LIFETIME BRANDS, INC. reported a significant turnaround in its second quarter 2026 financial results, achieving net income of $19.61 million, a substantial improvement from a net loss of $(39.70) million in the prior year. Net sales for the quarter increased to $141.57 million. The company recognized $40.1 million in tariff refunds, which positively impacted cost of goods sold, and continued with restructuring activities including distribution facility relocation and manufacturing operations closures. Net cash provided by operating activities also saw a healthy increase for the first half of 2026.
Key Highlights
- Net sales for Q2 2026 increased to $141.57 million from $131.86 million in Q2 2025.
- Net income for Q2 2026 was $19.61 million, compared to a net loss of $(39.70) million in Q2 2025.
- Basic EPS for Q2 2026 was $0.89, up from $(1.83) in Q2 2025.
- Recognized $40.1 million in IEEPA tariff refunds as a reduction to cost of goods sold.
- Incurred $1.98 million in restructuring expenses for Q2 2026, primarily for facility relocation and manufacturing closures.
- Net cash provided by operating activities for H1 2026 was $46.01 million, up from $26.06 million in H1 2025.
- Made a voluntary prepayment of $20.0 million on the Term Loan during Q2 2026.
Price Impact
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