Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q3 2025 Earnings Presentation
20 slides from Lakeland Industries's earnings presentation, Dec 5, 2024
Slide 1: Fiscal Third Quarter 2025 Financial Results Call
Fiscal Third Quarter 2025 Place An Image Here Financial Results Call December 5, 2024 NASDAQ: LAKE Protect Your People® 1
Slide 2: Safe Harbor & Non-GAAP Statements
Safe Harbor & Non-GAAP Statements “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains estimates, predictions, opinions, goals and other “forward-looking statements” as that phrase is defined in the Private Securities Litigation Reform Act of
Slide 3: Agenda: On the Call Today
Agenda: On the Call Today: COMPANY OVERVIEW COMPANY UPDATES FINANCIAL RESULTS KEY TAKEAWAYS Q&A CLOSING SUMMARY James M. Jenkins Roger D. Shannon President, Chief Executive Officer and Chief Financial Officer Executive Chairman Protect Your People® 3
Slide 4: Corporate Overview & Objectives
Corporate Overview & Objectives Lakeland Fire + Safety is a global manufacturer of personal protective equipment, apparel and accessories with a Head-to-Toe portfolio of brands. New management is NASDAQ: LAKE implementing strategies to accelerate growth and margins with an acquisition focus LTM Reve
Slide 5: Mission-Critical Product Portfolio
Mission-Critical Product Portfolio FIRE INDUSTRIAL Products Products NFPA-certified Fire Turnout Gear Chemical Suits CE-certified Fire Turnout Gear PPE / Disposable Coveralls Pacific brand of safety helmets FR/AR Performance Wear Jolly brand of fire boots High Visibility Particulate Blocking Hoods J
Slide 6: Global Head-to-Toe Fire Portfolio
Global Head-to-Toe Fire Portfolio Background & Product Portfolio Highlights Product • Fire and emergency services • Premium product line with a global reputation for safety and design Focus helmets • Highly innovative and R&D driven organization Headquarters Markets • Oceania, North America, Other •
Slide 7: Fiscal 2025 3rd Quarter Highlights & FY2025 Guidance
Fiscal 2025 3rd Quarter Highlights & FY2025 Guidance Q3-FY25 Highlights Q3-FY25 Revenue (Note: Lakeland's fiscal year end is January 31) ▪ Net sales growth of 45% ▪ High-value, strategic product line growth, led by a 245% increase in fire services 7% ▪ GM% affected by acquired companies 11% USA 34%
Slide 8: Fiscal 2025 Third Quarter Financial Highlights
Fiscal 2025 Third Quarter Financial Highlights Net Sales Adjusted EBITDA & Gross Margin Diluted EPS Adjusted EBITDA Margin $45.8 $4.7 42.2% 0.34 $4.3 40.6% 10.3% $3.3 9.3% $31.7 10.4% 0.01 2024Q3 2025Q3 2024Q3 2025Q3 2024Q3 2025Q3 2024Q3 2025Q3 2025Q3 Excl. FX • Net sales increased $14.1 • Gross mar
Slide 9: FQ3 TTM Revenue and Adjusted EBITDA
FQ3 TTM Revenue and Adjusted EBITDA Revenue Adjusted EBITDA excluding FX $151.8 $137.7 $132.3 $122.4 $124.7 $16.5 $15.7 $14.5 $14.7 $14.2 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 A
Slide 10: FQ3 Gross Margin and Adjusted EBITDA Bridge
FQ3 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA • Organic Gross Margin continued to improve • Profitability from Organic sales increased • Integration of newly acquired companies generating lower gross margin • Profit in ending inventory improved year over year • Higher ma
Slide 11: Revenue Mix - Historical and Pro Forma with Acquisitions
REVENUE MIX-HISTORICAL AND PRO FORMA WITH ACQUISITIONS Lakeland Organic FY24 with full year Pacific Helmets, Jolly Scarpe, Q3-FY25 Revenue Lakeland Organic FY24 and LHD Group (pro forma) 7% 5% 7% USA USA USA 13% 17% 11% Europe Europe 32% Asia 34% 44% Other N.A. 8% Europe 9% Other N.A. 14% Asia Asia
Slide 12: Q3-FY25 Balance Sheet
Q3-FY25 Balance Sheet 2025 2024 2025 2024 Qtr 3 Qtr 4 Qtr 3 Qtr 4 Cash and cash equivalents 15,839.3 25,221.8 Accounts Payable 16,710.9 7,377.5 Accounts Receivable 26,562.6 19,168.6 Accrued Compensation and Benefits 4,533.2 3,920.7 Inventories 72,720.9 51,250.7 Other Accrued Expenses 4,939.1 2,487.2
Slide 13: Q3-FY25 Cash Flow
Q3-FY25 Cash Flow 2025Q3 2024Q3 Variance ➢ Cashflow from Operations decreased $16.2M Net Income 320.6 1,319.9 -999.3 Deferred Income Ta xes -430.8 -176.2 -254.6 due primarily to inventory build, changes in Depreci a tion a nd Amortiza tion 3,011.4 533.4 2,478.0 Stock Ba s ed a nd Res tri cted Stock
Slide 14: Inventory
Inventory Inventory Organic Inventory Quarter over Quarter Finished Goods vs Raw Materials $80,000 $40,000 $70,000 $60,000 $30,000 $50,000 $40,000 $20,000 $30,000 $20,000 $10,000 $10,000 $0 $0 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 20
Slide 15: Fiscal 2025 Third Quarter Takeaways
Fiscal 2025 Third Quarter Takeaways Net Sales Growth High-Value, Strategic Product Line Growth, Led By Fire Services Near Term Strategy Long Term Strategy Competitive Position Robust Execution Capital Allocation Management Protect Your People® 15
Slide 16: Q&A
Q&A NASDAQ: LAKE Company Investor Relations 1525 Perimeter Parkway Chris Tyson Suite 325 MZ Group Huntsville, AL 35806 949-491-8235 LAKE@mzgroup.us www.lakeland.com Protect Your People® 16
Slide 17: Appendix
APPENDIX Protect Your People® 17
Slide 18: Fiscal 2025 Third Quarter Financial Summary
Fiscal 2025 Third Quarter Financial Summary THREE MONTHS ENDED October 31, 2024 2023 Variance Net sales $45,761 $31,678 44.5% Gross Margin 40.6% 42.2% -162bps Adjusted EBITDA excluding FX $4,726 $4,507 4.9% Adjusted EBITDA excluding FX Margin 10.3% 14.2% -390bps Diluted EPS $0.01 $0.34 -$0.33 ($000’
Slide 19: Non-GAAP Reconciliation – Q3
Non-GAAP Reconciliation – Q3 THREE MONTHS ENDED THREE MONTHS ENDED October 31, October 31, 2024 2023 2024 2023 Net Income to EBITDA Adjusted EBITDA Margin Net income (loss) $86 $2,618 Adjusted EBITDA $4,264 $3,285 Interest expense $490 $13 Divided by net sales $45,761 $31,678 Taxes $148 $937 Adjuste
Slide 20: Non-GAAP Reconciliation – LTM
Non-GAAP Reconciliation – LTM LAST TWELVE MONTHS October 31, 2024 2023 Adjusted EBITDA to Adjusted EBITDA excluding FX Adjusted EBITDA $10,723 $11,754 Currency Fluctuation $3,731 $1,450 Adjusted EBITDA excluding FX $14,454 $13,204 ($000’s Except Share Information) Protect Protect Your People® Your P