Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q2 2025 Earnings Presentation
14 slides from Lakeland Industries's earnings presentation, Sep 5, 2024
Slide 1: Fiscal Second Quarter 2025 Financial Results Call
Fiscal Second Quarter 2025 Financial Results Call September 5, 2024 NASDAQ: LAKE
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: Lakeland Overview: What We Do
Lakeland Overview WHAT WE DO Global manufacturer of high-quality, cost-effective, and mission critical personal protective clothing solutions that protect people at work and in their communities. Key Statistics Revenue (LTM as of 07/31/24) $137.7 million Adjusted EBITDA excluding FX (LTM as of 07/31
Slide 4: Mission-Critical Product Portfolio
Lakeland Overview MISSION-CRITICAL PRODUCT PORTFOLIO FIRE INDUSTRIAL Products Products NFPA-certified Fire Turnout Chemical Suits Gear PPE / Disposable Coveralls CE-certified Fire Turnout Gear FR/AR Performance Wear Pacific brand of safety helmets High Visibility Jolly brand of fire boots Jolly and
Slide 5: Fiscal 2025 Second Quarter Highlights and FY2025 Guidance
Lakeland Overview Fiscal 2025 Second Quarter Highlights and FY2025 Guidance Q2-FY25 Highlights Q2-FY25 Revenue (Note: Lakeland's fiscal year end is January 31) ▪ Net sales growth of 16% ▪ High-value, strategic product line growth, led by a 34% increase in fire service ▪ GM and Adjusted EBITDA affect
Slide 6: Fiscal 2025 Second Quarter Financial Highlights
Lakeland Overview Fiscal 2025 Second Quarter Financial Highlights Net Sales Adjusted EBITDA & Gross Margin Diluted EPS Adjusted EBITDA Margin $38.5 $4.2 42.9% 0.32 39.6% 12.6% $2.7 $1.8 6.9% $33.1 4.7% -0.19 2024Q2 2025Q2 2024Q2 2025Q2 2024Q2 2025Q2 2024Q2 2025Q2 2025Q2 Excl. FX • Net sales increase
Slide 7: FQ2 TTM Revenue and Adjusted EBITDA
Lakeland Overview FQ2 TTM Revenue and Adjusted EBITDA Revenue Adjusted EBITDA excluding FX $137.7 $132.3 $16.5 $15.7 $14.2 $14.5 $13.2 $124.7 $122.4 $119.2 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-
Slide 8: FQ2 Gross Margin and Adjusted EBITDA Bridge
Lakeland Overview FQ2 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, including a 90 basis • Profit in ending inven
Slide 9: Lakeland Revenue Mix - Historical and Pro Forma with Acquisitions
Lakeland Overview LAKELAND REVENUE MIX-HISTORICAL AND PRO FORMA WITH ACQUISITIONS Lakeland Organic FY24 Lakeland Organic with Pacific Helmets, Q2-FY25 Revenue Jolly Scarpe, and LHD Group (pro forma) Protect Your People® 9
Slide 10: Fiscal 2025 Second Quarter Takeaways
Lakeland Overview Fiscal 2025 Second Quarter Takeaways Second quarter results saw continued revenue growth in key geographic markets and strategic product lines, including 34% growth in fire service Q2 Adjusted EBITDA excluding FX was $2.7M (6.9%), down from the prior year due primarily to profit in
Slide 11: Appendix
APPENDIX TT 7
Slide 12: Fiscal 2025 Second Quarter Financial Summary
Appendix Fiscal 2025 Second Quarter Financial Summary THREE MONTHS ENDED July 31, 2024 2023 Variance Net sales $38,512 $33,071 16.5% Gross Margin 39.6% 42.9% -333bps Adjusted EBITDA excluding FX $2,659 $4,719 -43.7% Adjusted EBITDA excluding FX Margin 6.9% 14.3% -737bps Diluted EPS -$0.19 $0.32 -$0.
Slide 13: Non-GAAP Reconciliation – Q2
Appendix Non-GAAP Reconciliation – Q2 THREE MONTHS ENDED THREE MONTHS ENDED July 31, July 31, 2024 2023 2024 2023 Net Income to EBITDA Adjusted EBITDA Margin Net income (loss) -$1,376 $2,465 Adjusted EBITDA $1,816 $4,162 Interest expense $370 $1 Divided by net sales $38,512 $33,071 Taxes -$420 $1,19
Slide 14: Non-GAAP Reconciliation – LTM
Appendix Non-GAAP Reconciliation – LTM LAST TWELVE MONTHS July 31, 2024 2023 Adjusted EBITDA to Adjusted EBITDA excluding FX Adjusted EBITDA $10,723 $11,754 Currency Fluctuation $3,732 $1,450 Adjusted EBITDA excluding FX $14,454 $13,204 ($000’s Except Share Information) Protect Your People® 14