| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 47.59 | 9.3% | 4.0% |
| Total Income | 47.59 | 9.3% | 4.0% |
| Expenditure | 49.21 | 13.0% | 9.5% |
| PBT | -2.29 | 48.5% | 1095.7% |
| Net Profit | -15.96 | 2172.7% | 17833.3% |
| OPM | -3.41% | 4.29pp | 5.17pp |
| NPM | -33.53% | 34.99pp | 33.72pp |
| EPS | -1.64 | 2150.0% |
Lakeland Reports Q3 FY26 Net Sales Up 4% to $47.6 Million
04 May 2026 · 4 May, 6:57 am
Summary
Lakeland Industries reported a 4% increase in net sales to $47.6 million for Q3 FY2026, driven by a 31% increase in Fire Services product sales. The company completed strategic acquisitions to expand its presence in the U.S. personal protective equipment market. However, adjusted EBITDA excluding FX decreased to $0.2 million due to various macroeconomic factors and certification delays. Management is focused on implementing efficiencies and reducing inventory to improve margins and cash flow, while withdrawing the previously issued financial guidance for FY2026.
Key Highlights
- 1
Lakeland Industries' net sales increased by 4% to $47.6 million in the third quarter of fiscal year 2026.
- 2
Fire Services product sales rose by 31% to $25.3 million, representing 53% of total revenue for Q3 FY26.
- 3
The company completed strategic acquisitions, expanding its global fire footprint into the Western U.S. personal protective equipment market.
- 4
Lakeland LHD secured a $5.6 million three-year contract to provide decontamination services for the Hong Kong Fire Services Department.
- 5
U.S. sales increased by 25% to $19.2 million in the third quarter of fiscal 2026.
- 6
Adjusted EBITDA excluding FX for the third quarter of fiscal year 2026 was $0.2 million.
- 7
The company is implementing operating and manufacturing efficiencies to achieve higher margins and improved free cash flow.
Management Comments
Jim Jenkins
The third quarter was underscored by the acquisitions of Arizona PPE Recon and California PPE Recon, with 4% net sales revenue growth to $47.6 million as we continue to adapt to the global tariff and inflation effects coupled with certification delays in the U.S. and global tender delays. Looking ahead, we are focused on navigating the continued challenges from tariff uncertainties and certification and tender delays while growing top-line revenue in our fire services and industrial verticals and implementing operating and manufacturing efficiencies to achieve higher margins and improved free cash flow. We are driving a substantial inventory reduction which will release working capital and reduce carrying costs, and prioritizing liquidity and debt reduction. We believe that our proactive approach to inventory management, combined with the upcoming tender cycle, will position us for stronger execution heading into FY27. Renewed tender activity is expected to increase demand for fire services in the U.S. and contribute to improved performance at Eagle and LHD Germany, which are well-positioned to participate in upcoming meaningful tenders. We have approximately $178 million of global tender opportunities in FY27, including $38 million over $100,000 in value with high probabilities of success. We remain confident that Lakeland is well-positioned to capitalize on long-term industry and structural shifts in global safety standards. We see a clear path to scaling our business profitably, achieving record levels of revenue, margin, and free cash flow, while deepening our role as a mission-critical partner for safety professionals worldwide. We look forward to sharing additional information on our quarterly conference call.
Informational and educational content only. Not investment advice.