Welcome to our dedicated page for Lakeland Inds news (Ticker: LAKE), a resource for investors and traders seeking the latest updates and insights on Lakeland Inds stock.
Overview
Lakeland Industries (LAKE) is a publicly-held, multidivisional manufacturer dedicated to producing high-performance protective garments and accessories. The company specializes in industrial safety apparel for sectors such as chemical, petrochemical, healthcare, automotive, glass, cement, and fire services. With decades of experience in the market, Lakeland has built a reputation for quality, innovation, and reliability across global markets.
Product Portfolio
The company offers a comprehensive range of products including disposables, chemical resistant clothing, fire service gear, gloves, high visibility wear, high-performance garments, and woven textiles. These products are designed for a variety of environmental conditions and industries where safety is paramount. Their offerings are tested on the job, making them a trusted solution for end users who require durable and effective protective clothing.
Global Reach and Distribution
Lakeland operates through a sophisticated global distribution network, selling its products through in-house sales teams as well as a vast network of over 2,000 authorized safety and industrial supply distributors. The company maintains a strong presence in key regions including North America, Latin America, Canada, Asia, Europe, and beyond. Strategic partnerships with organizations such as LineDrive and participation in government procurement programs underscore its commitment to expanding market penetration and ensuring product availability worldwide.
Research, Development, and Strategic Acquisitions
Innovation is at the core of Lakeland's business approach. Robust research and development programs enable the company to continuously improve product performance and adapt to evolving industrial safety needs. Strategic acquisitions, including those enhancing their fire services and head-to-toe protective solutions, further diversify the product portfolio and extend market reach. Such initiatives reinforce Lakeland's commitment to quality and position the firm as an integral player in the industrial safety market.
Market Position and Competitive Landscape
Lakeland is recognized for its robust quality standards and its ability to supply consistently reliable protective clothing under challenging conditions. The competitive edge lies in its comprehensive approach: a diversified product line, global logistical capabilities, and a history of strategic acquisitions that strengthen its footprint in high-value industrial segments such as fire services. Clear industry expertise and governance support continuous improvements, allowing Lakeland to respond proficiently to market demands.
Commitment to Quality and Customer Service
Quality is the cornerstone of Lakeland's manufacturing process. Meticulous design practices and rigorous testing ensure that each product meets stringent safety standards, while superior customer service and technical support enhance user satisfaction. This commitment to excellence has cemented the brand's reputation among integrated industries, government agencies, and first responders worldwide.
Key Industry Terminology and Insights
- Industrial Protective Clothing: Garments designed to protect workers from physical, chemical, and thermal hazards.
- Fire Services: Specialized product lines tailored for firefighting and emergency response applications.
- Strategic Acquisitions: Targeted investments intended to expand market presence and diversify product offerings.
- Global Distribution: An extensive network that enables efficient delivery of safety products to both domestic and international markets.
This detailed overview aims to inform investors and industry observers about Lakeland's operations, emphasizing its proven track record, diversified product portfolio, and strategic initiatives that uphold its authority and trustworthiness in the industrial safety market.
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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