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Lifetime Brands, Inc. Reports Third Quarter 2026 Financial Results

LCUT
  • Lifetime Brands, Inc. reported a net loss of $4.2 million ($0.19 per diluted share) for the quarter ended September 30, 2026, compared to a net loss of $1.2 million in the prior year period.
  • Consolidated net sales for the third quarter increased 3.4% to $177.7 million, driven by an 18.8% growth in international sales.
  • Gross margin expanded to 36.5% from 35.1% in the prior year, though the current period included a $3.3 million charge for SKU rationalization.
  • Adjusted net income for the quarter rose to $8.4 million ($0.37 per diluted share) from $2.5 million in the same period of 2025.
  • For the nine months ended September 30, 2026, net income was $10.6 million ($0.47 per diluted share), contrasting with a net loss of $45.1 million in the prior year due to a $33.2 million goodwill impairment charge.
  • A $40.1 million tariff refund benefit contributed to the improved nine-month gross margin of 45.9% and income from operations of $29.4 million.
  • Adjusted EBITDA for the trailing twelve months ended September 30, 2026, was $92.4 million before limitations and $84.5 million after giving effect to permitted non-recurring charge limitations.
  • The Board authorized a $20 million share repurchase program, increasing the total available funds to $20 million exclusive of fees.
  • The Board declared a quarterly dividend of $0.0425 per share payable on February 12, 2027, to shareholders of record on January 29, 2027.
  • Full-year 2026 guidance for net sales was raised to $660-$700 million, while guidance for income from operations was lowered to $42.5-$45 million.
  • Guidance for full-year 2026 net income was adjusted downward to $19-$20.5 million, and diluted income per share was reduced to $0.84-$0.91.
  • Liquidity as of September 30, 2026, totaled $123.3 million, consisting of $5.9 million in cash plus $117.4 million in availability under credit agreements.
  • The company updated its financial results to include an inadvertent omission of Adjusted EBITDA measures for the trailing twelve-month period.
Company
Lifetime Brands, Inc.
Keywords
Nasdaq:LCUT, Lifetime Brands, Inc.