Welcome to our dedicated page for Lakeland Industries news (Ticker: LAKE), a resource for investors and traders seeking the latest updates and insights on Lakeland Industries stock.
Lakeland Industries Inc. (NASDAQ: LAKE) is a prominent global manufacturer of high-performance protective garments designed to ensure safety in various hazardous environments. Headquartered in Ronkonkoma, New York, since 1982, Lakeland serves a broad range of industries including chemical, petrochemical, healthcare, automotive, and more. With a robust annual revenue exceeding $100 million, the company's growth is propelled by continuous innovation through its research and development programs.
Lakeland's product portfolio is diverse, covering segments like Disposables, Chemicals, Fire Services, Gloves, High Visibility, High-Performance Wear, and Wovens. These products are essential for workers in sectors such as integrated oil, chemical/petrochemical, utilities, automobile, steel, glass, construction, and pharmaceuticals. The company's geographical reach extends across the United States, Latin America, Canada, Asia, Mexico, Europe, and other international markets.
Recently, Lakeland has made significant strides in expanding its fire services offerings. The strategic acquisition of Jolly Scarpe, a leading designer and manufacturer of professional footwear for firefighting and rescue operations, enhances Lakeland's ability to provide comprehensive head-to-toe protective solutions. Additionally, the acquisition of LHD Group Deutschland GmbH's fire and rescue business further broadens Lakeland's product range and geographical footprint, particularly in Germany, Australia, and Hong Kong.
The company maintains a strong financial condition, with recent fiscal reports indicating substantial growth in revenue and profitability. Lakeland's commitment to quality and safety has earned it a reputation as a reliable supplier of protective gear, backed by a global network of distributors and sales teams. This network ensures that Lakeland's products meet the stringent safety standards required by industries handling hazardous materials.
In collaboration with LineDrive, a leading sales and marketing firm, Lakeland aims to enhance the availability and delivery of its products across North America. This partnership is expected to increase market penetration and improve the overall safety solutions offered to industrial sectors.
For more information about Lakeland Industries and its comprehensive range of protective clothing and accessories, please visit the company’s website at www.lakeland.com.
Lakeland Fire + Safety (NASDAQ:LAKE) has completed the acquisition of Veridian, a leading firefighter protective apparel provider, for approximately $25 million in an all-cash transaction. Veridian, founded in 1992, generates annual revenue of about $21 million and employs 150 people in Des Moines, Iowa. The acquisition strengthens Lakeland's competitive position in fire services, particularly in the U.S. and Latin America markets. The deal was financed through Lakeland's revolving credit facility with Bank of America. This strategic move follows Lakeland's 245% year-over-year growth in Fire Services Products during the third quarter. Veridian's owner, Bill Van Lent, will remain as president.
Lakeland Industries (NASDAQ:LAKE) reported record Q3 FY2025 results with net sales increasing 44.5% to $45.8 million, primarily driven by a 245% increase in Fire Services products. Gross profit rose 38.9% to $18.6 million, while gross margin decreased to 40.6% from 42.2% year-over-year.
The company's Fire Services product line generated $19.3 million in sales, representing a significant increase from $5.6 million in the previous year. International sales comprised 66% of total revenues at $30.4 million. Net income decreased to $0.1 million ($0.01 per share) compared to $2.6 million ($0.34 per share) in Q3 FY2024.
Management reaffirmed FY2025 guidance expecting revenue of at least $165 million and Adjusted EBITDA excluding FX of at least $18 million.
Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective clothing and apparel, has announced its participation in two major investor conferences in December 2024. CEO and Executive Chairman Jim Jenkins and COO Helena An will attend the Benchmark 13th Annual Discovery One-on-One Conference in New York on December 11, while CFO Roger Shannon will be present at the 13th Annual ROTH Deer Valley Event in Park City, Utah, from December 11-14.
Both events will feature one-on-one meetings with institutional investors. Interested parties can schedule meetings through conference representatives or by contacting LAKE@mzgroup.us.
Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing and apparel, has scheduled its fiscal year 2025 third quarter financial results conference call for Thursday, December 5, 2024, at 4:30 p.m. Eastern Time. The company will release detailed financial results for the quarter ended October 31, 2024, before the call. President, CEO and Executive Chairman Jim Jenkins and CFO Roger Shannon will host the conference call, which will include a presentation and Q&A session. The call will be accessible via telephone and webcast, with replay available through March 5, 2025.
Lakeland Industries (NASDAQ:LAKE), a global manufacturer of protective clothing, announced its Board of Directors has declared a quarterly cash dividend of $0.03 per share for the fourth quarter of 2025. The dividend will be paid on November 22, 2024, to stockholders of record as of November 15, 2024. The company specializes in protective clothing for industry, healthcare, and first responders at federal, state, and local levels.
Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective clothing and apparel, has engaged MZ Group to lead its strategic investor relations and financial communications program. The campaign will highlight Lakeland's revenue growth, particularly in fire services, which saw a 34% year-over-year increase in Q2 FY2025. Lakeland reaffirmed its FY2025 guidance with revenue expected between $160 million - $170 million and Adjusted EBITDA between $18 million - $21.5 million.
MZ Group will focus on increasing Lakeland's visibility in the investment community, emphasizing its $6.0 billion total addressable market and growth strategies. The company's recent acquisition of LHD Group Deutschland GmbH's fire and rescue business enhances its global presence. Lakeland aims to expand its fire turnout business through acquisitions while growing its industrial safety business.
Lakeland Industries (NASDAQ:LAKE) reported fiscal 2025 Q2 results with net sales of $38.5 million, up 16.5% year-over-year, and a gross margin of 39.6%. The company saw strong growth in fire services, up 34%, but faced challenges in other areas. Lakeland reported a net loss of $1.4 million or ($0.19) per share, compared to net income of $2.5 million or $0.33 per share last year. Adjusted EBITDA excluding FX was $2.7 million, down from $4.7 million in Q2-FY24. The company rebranded as Lakeland Fire + Safety, integrating its acquired brands. Despite Q2 challenges, management remains confident in full-year projections, expecting growth acceleration in the second half of FY2025.
Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective clothing, has announced it will release its fiscal 2025 second quarter financial results on Wednesday, September 4, 2024, after market close. The company will host a conference call and live webcast on Thursday, September 5, 2024, at 12:00 p.m. eastern to discuss the results.
The call will be led by Jim Jenkins, President and CEO, and Roger Shannon, CFO. Investors and analysts can join the webcast through the provided link or dial in using the numbers (888) 506-0062 or (973) 528-0011 with passcode 705386. An audio replay will be available until September 12, 2024, accessible by dialing (877) 481-4010 or (919) 882-2331 with passcode 51185.
Lakeland Industries (NASDAQ:LAKE), a global leader in protective clothing manufacturing, has announced its participation in the 4th Annual CEO Networking Event hosted by Semco Capital. The event is scheduled for August 15, 2024, at the Wildfire Restaurant in Chicago.
CEO Jim Jenkins and CFO Roger Shannon will represent Lakeland, engaging in a fireside chat and Q&A session. This networking event brings together top microcap companies with strong growth potential, offering investors a unique opportunity to interact with management teams. Interested investors can contact Scott Weis at scott@semcocapital.com for attendance details.
Lakeland Industries (NASDAQ:LAKE), a leading global manufacturer of protective apparel, has appointed Laurel Yartz as Chief Human Resources Officer. This newly created position underscores Lakeland's commitment to enhancing its human capital strategies and driving organizational excellence. Ms. Yartz brings over 30 years of experience in global Human Resources leadership, primarily in Fortune 500 and private equity companies. She will be responsible for enhancing Lakeland's people strategy and fostering a culture focused on growth, innovation, execution, customer satisfaction, and continuous improvement. Ms. Yartz will report to Jim Jenkins, President, CEO and Executive Chairman.
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