Lakeland Fire + Safety Added to Russell 3000® and Russell 2000® Indexes

Rhea-AI Summary

Lakeland Fire + Safety (NASDAQ: LAKE), a global manufacturer of protective clothing and apparel, has announced its inclusion in the Russell 3000® and Russell 2000® Indexes effective June 27, 2025. The company has reported significant growth with a 29% increase in sales revenue, including a remarkable 100% increase in Fire Services revenue.

CEO Jim Jenkins highlighted the company's strategic progress, including four completed acquisitions in the last twelve months. The company continues to pursue M&A opportunities, particularly in fire suit rental, decontamination, and services business sectors, aiming to consolidate the fragmented fire market.

The Russell indexes, which are reconstituted annually, capture the 4,000 largest US stocks by market capitalization. These indexes serve as benchmarks for approximately $10.6 trillion in assets and are widely used by investment managers and institutional investors.

Positive

• Sales revenue growth of 29% overall
• Fire Services revenue increased by 100%
• Successfully completed four acquisitions in the last 12 months
• Inclusion in prestigious Russell 3000® and Russell 2000® Indexes
• Active M&A strategy to consolidate fragmented fire market

Negative

• None.

News Market Reaction – LAKE

+3.26%

1 alert

+3.26% News Effect

On the day this news was published, LAKE gained 3.26%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HUNTSVILLE, Ala., June 30, 2025 (GLOBE NEWSWIRE) -- Lakeland Industries, Inc. (“Lakeland Fire + Safety” or “Lakeland”) (NASDAQ: LAKE), a leading global manufacturer of protective clothing and apparel for industry, healthcare and first responders, today announced that it has been added to the broad-market Russell 3000^® Index and Russell 2000^® Index effective after the U.S. market close on June 27, 2025, as part of FTSE Russell’s annual reconstitution.

“Our inclusion in the Russell Indexes is an important milestone and builds upon our recently reported sales revenue growth of 29%, led by a 100% increase in Fire Services revenue and ongoing momentum from our recent acquisitions,” said Jim Jenkins, President, Chief Executive Officer and Executive Chairman. “We have made considerable progress in the last twelve months with our four completed acquisitions and continue to pursue M&A opportunities, particularly within the fire suit rental, decontamination, and services business, to further consolidate the fragmented fire market. We believe that with these added product line extensions, innovative new products, and expanded global markets, channels, and customer base, we are well-positioned to grow our global head-to-toe fire portfolio and continue to see strong momentum in the fiscal second half of FY2026 and over the coming years.”

The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily based on objective, market capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, approximately $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

About FTSE Russell, an LSEG Business

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent, rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the

IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by the London Stock Exchange Group.

For more information, visit FTSE Russell.

About Lakeland Fire + Safety

Lakeland Fire + Safety manufactures and sells a comprehensive line of fire services and industrial protective clothing and accessories for the industrial and first responder markets. Our products are sold globally by our in-house sales teams, our customer service group, and authorized independent sales representatives to a strategic global network of selective fire and industrial distributors and wholesale partners. Our authorized distributors supply end users across various industries, such as integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high-tech electronics manufacturers, as well as scientific, medical laboratories and the utilities industry. In addition, we supply federal, state and local governmental agencies and departments, including fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, we sell to a mix of end-users directly and to industrial distributors, depending on the particular country and market. In addition to the United States, sales are made into more than 50 foreign countries, the majority of which were into China, the European Economic Community ("EEC"), Canada, Chile, Argentina, Russia, Kazakhstan, Colombia, Mexico, Ecuador, India, Uruguay, Middle East, Southeast Asia, Australia, Hong Kong and New Zealand.

For more information about Lakeland, please visit the Company online at www.lakeland.com.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, which address Lakeland's expectations of sources or uses for capital, or which express the Company's expectation for the future with respect to financial performance or operating strategies, including statements regarding our M&A strategy, can be identified as forward-looking statements. Forward-looking statements involve risks, uncertainties and assumptions as described from time to time in Press Releases and Forms 8-K, registration statements, quarterly and annual reports and other reports and filings filed with the Securities and Exchange Commission or made by management. As a result, there can be no assurance that Lakeland's future results will not be materially different from those described herein as "believed," "projected," "planned," "intended," "anticipated," "can," "estimated" or "expected," or other words which reflect the current view of the Company with respect to future events. We caution readers that these forward-looking statements speak only as of the date hereof. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based, except as may be required by law.

Contacts
Lakeland Fire + Safety
256-600-1390
Roger Shannon
Chief Financial Officer
rdshannon@lakeland.com

Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
LAKE@mzgroup.us
www.mzgroup.us

FAQ

What indexes was Lakeland Fire + Safety (LAKE) added to in June 2025?

Lakeland Fire + Safety was added to both the Russell 3000® Index and Russell 2000® Index effective June 27, 2025, as part of FTSE Russell's annual reconstitution.

How much did Lakeland Fire + Safety's (LAKE) revenue grow in their latest report?

Lakeland reported 29% growth in sales revenue, with Fire Services revenue specifically increasing by 100%.

How many acquisitions has Lakeland Fire + Safety (LAKE) completed in the past year?

Lakeland Fire + Safety has completed four acquisitions in the last twelve months.

What is the total asset value benchmarked against Russell US indexes?

Approximately $10.6 trillion in assets are benchmarked against the Russell US indexes, according to data as of June 2024.

What are Lakeland Fire + Safety's (LAKE) M&A focus areas?

Lakeland is pursuing M&A opportunities primarily in fire suit rental, decontamination, and services business sectors to consolidate the fragmented fire market.