LAKELAND INDUSTRIES INC — Form 8-K
Filed September 9, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 45/100
What the filing says
Lakeland reported Q2 FY27 net sales of $50.1M (down 4.5% YoY, up 5.7% QoQ; up 2.8% excluding $3.7M divested product lines). Fire segment drove momentum at $26.1M (52% of sales, +2% YoY, +12% QoQ), with helmets +41%, hoods +66%, turnout gear +5.5%. Adjusted EBITDA excluding FX more than doubled sequentially to $2.7M. Gross margin improved to 37.0% from 35.9% YoY and 31.4% QoQ. Company recorded $3.2M goodwill impairment (LHD Germany), resolved Monterrey Mexico lease dispute ($1.9M gain), reduced inventory $15.3M YoY to $74.9M, and generated $5.4M operating cash flow YTD (up $15.1M YoY). Debt stands at $28.7M with $17.9M cash.
Why this rating
Mixed results: strong Fire growth and margin recovery offset by YoY revenue decline, $3.2M goodwill write-down, and near-term outlook uncertainty from portfolio repositioning. Relative to $132M market cap, modest near-term impact but turnaround trajectory matters.
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