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Lifetime Brands, Inc. Reports Third Quarter 2026 Financial Results

LCUT
  • Lifetime Brands, Inc. reported third quarter 2026 consolidated net sales of $177.7 million, a 3.4% increase year-over-year, with international sales growing 18.8%.
  • The company declared a regular quarterly dividend of $0.0425 per share, payable on February 12, 2027, to stockholders of record on January 29, 2027.
  • The Board authorized a $20 million share repurchase program, increasing the available amount by approximately $8.9 million from the prior $11.1 million balance.
  • Third quarter GAAP net loss was $4.2 million or $0.19 per diluted share, compared to a $1.2 million loss in the same period last year, driven by a $3.3 million SKU rationalization charge.
  • Adjusted net income for the third quarter was $8.4 million or $0.37 per diluted share, up from $2.5 million or $0.11 per share in the prior year period.
  • Gross margin for the third quarter expanded to 36.5% from 35.1% in the prior year, despite including the aforementioned inventory reserve charge.
  • For the nine months ended September 30, 2026, consolidated net sales reached $462.8 million, a 4.3% increase, while GAAP net income turned to $10.6 million from a $45.1 million loss in the prior year.
  • The nine-month period included a $40.1 million tariff refund benefit which significantly improved gross margin to 45.9% and income from operations to $29.4 million.
  • Full year 2026 net income guidance was lowered to $19 million-$20.5 million from a previous range of $23 million-$24.5 million, while net sales guidance was raised to $660 million-$700 million from $650 million-$700 million.
  • Adjusted EBITDA for the trailing twelve months ended September 30, 2026, was $84.5 million.
  • Liquidity as of September 30, 2026, totaled $123.3 million, consisting of $5.9 million in cash, $96.4 million available under the ABL Agreement, and $21.0 million under the Receivables Purchase Agreement.
  • The Farberware relaunch is performing well, the Dollar General partnership is on track to generate $20 million in sales for the year, and Project Concord is helping the international segment approach breakeven.
  • A conference call to discuss these results is scheduled for November 5, 2026, at 11:00 a.m. Eastern Time.