Lakeland (LAKE) Reports Q2 2027 Earnings with Mixed Performance Across Segments
Lakeland Inc. reported mixed results for its second-quarter fiscal year 2027, showing a net sales decline of 4.5% to $50.1 million compared to the prior year but an improvement from Q1's performance due to stronger Fire segment revenue. The Fire division saw sequential growth and contributed significantly to total sales as customers transitioned to updated NFPA standards. Meanwhile, Industrial Revenue dropped by 10.8%, though excluding divested product lines showed a modest increase driven by chemical protective gear and critical environment products. The company reported a net loss of $4.9 million for the quarter compared with a prior-year profit of $0.8 million due to a non-cash goodwill impairment charge. However, adjusted EBITDA rose more than 100% from Q1 despite being lower year-over-year. Operating cash flow improved significantly in the first half of fiscal 2027 by $15.1 million compared with the prior year period. Geographically, US sales declined slightly while Asia saw a strong increase due to contract wins. Europe's performance was negatively impacted by one-time factors from last year’s boot tender delivery.
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