Lifetime Brands, Inc. Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Lifetime Brands (Nasdaq: LCUT) reported Q1 2026 results: net sales $143.5M (+2.4% YoY) and gross margin 37.7% (vs 36.1%). The company posted a net loss $(4.8M) (−$0.22/diluted) but adjusted net income $0.8M and adjusted EBITDA TTM $52.7M. Liquidity totaled $110.2M. Management issued full-year 2026 guidance including net sales $650–700M and adjusted diluted EPS $0.73–0.80.
Positive
- Home Solutions growth nearly 23% YoY
- Adjusted income from operations of $5.4M (Q1 2026)
- Adjusted EBITDA TTM $52.7M
- Liquidity of $110.2M (cash $13.9M plus available facilities)
- Full‑year guidance: net sales $650–700M and adjusted EPS $0.73–0.80
Negative
- Selling, general & administrative expenses up 16.8%
- Reported net loss $(4.8M) and diluted loss per share $(0.22)
- Accounts receivable fell ~29% vs Dec 31, 2025 (114,949 vs 161,861)
Market Reaction – LCUT
Following this news, LCUT has gained 22.80%, reflecting a significant positive market reaction. Our momentum scanner has triggered 18 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $6.84. This price movement has added approximately $29M to the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Market Reality Check
Peers on Argus
Pre-news, LCUT showed weakness while peers were mixed: HOFT up 2.44%, PRPL up 3.25%, NVFY down 4.78%, IRBT down 30.40%, VIRC flat. Movements do not indicate a unified sector trend.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 23 | Earnings call notice | Neutral | -2.5% | Announced Q1 2026 earnings release date and conference call details. |
| Mar 12 | Q4 2025 earnings | Positive | +15.2% | Reported Q4 2025 profit, improved margin, and declared regular dividend. |
| Nov 06 | Q3 2025 earnings | Negative | -1.0% | Q3 2025 sales and margin declined with a net loss despite positive adjustments. |
| Aug 07 | Q2 2025 earnings | Negative | -6.0% | Challenging Q2 2025 with large goodwill impairment and significant net loss. |
| May 08 | Q1 2025 earnings | Negative | -8.8% | Q1 2025 net loss, lower sales and margin, and suspended full-year guidance. |
Earnings and related communications have generally driven price moves that align with the underlying tone of the news, with an overall modest average move and occasional strong positive reaction to better quarters.
Over the past year, Lifetime Brands has reported a series of earnings updates showing pressured sales in 2025 but improving profitability metrics and liquidity. Q2 and Q3 2025 results highlighted net losses, a major $33.2M goodwill impairment, and weaker demand, while maintaining gross margin and liquidity. Q4 2025 delivered stronger income and a regular dividend. The Q1 2026 release continues this trajectory by returning to modest net sales growth and positive adjusted earnings, now accompanied by detailed full-year 2026 guidance.
Historical Comparison
Across 5 recent earnings-related headlines, LCUT’s average next-day move was -0.61%, showing generally modest, slightly negative reactions even when fundamentals or outlook improved.
Earnings releases show a progression from challenging 2025 quarters with impairments and suspended guidance toward stronger Q4 2025 profitability and now Q1 2026 net sales growth, positive adjusted results, and reinstated detailed full-year guidance.
Market Pulse Summary
This announcement highlights a turn toward growth and profitability improvement, with Q1 2026 net sales of $143.5M, higher gross margin of 37.7%, and adjusted income from operations of $5.4M. Management also issued full-year 2026 guidance, including net sales of $650M–$700M and adjusted EBITDA of $53.5M–$56M. Investors may monitor execution against this guidance, the trajectory of GAAP losses, and how liquidity of $110.2M supports ongoing investments and restructuring.
Key Terms
adjusted ebidta financial
non-gaap financial measures financial
term loan financial
receivables purchase agreement financial
mark to market financial
operating lease financial
AI-generated analysis. Not financial advice.
Quarterly Net Sales and Earnings Beat Consensus
GARDEN CITY, N.Y., May 07, 2026 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, today reported its financial results for the quarter ended March 31, 2026.
Rob Kay, Lifetime's Chief Executive Officer, commented, “Our first quarter results validate decisions that carried short-term cost, but were right for the business. We moved first on pricing, took deliberate action on our cost structure, and continued investing in new products while many in our industry pulled back. The payoff is showing up, as net sales and adjusted EBITDA both grew year-over-year, we believe we outperformed our peers, and we are providing full-year guidance that reflects our confidence in where this business is headed. Home Solutions grew nearly
First Quarter Financial Results:
Consolidated net sales for the three months ended March 31, 2026 were
Gross margin for the three months ended March 31, 2026 was
Selling, general and administrative expenses for the three months ended March 31, 2026 were
Loss from operations was
Adjusted income from operations(1) was
Net loss was
Adjusted net income(1) was
Adjusted EBITDA(1) was
Liquidity as of March 31, 2026 was
(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.
Full Year 2026 Guidance
For the full year ending December 31, 2026, the Company is providing the following financial guidance
(in millions - except per share data):
| Net sales | ||||
| Income from operations | ||||
| Adjusted income from operations | ||||
| Net loss | ||||
| Adjusted net income | ||||
| Diluted loss per common share(1) | ||||
| Adjusted diluted income per common share(2) | ||||
| Weighted-average diluted shares | 22 | |||
| Adjusted EBITDA, before limitation |
(1) Diluted loss per common share is calculated based on weighted-average shares outstanding of 21.8 million.
(2) Adjusted dilutive income per common share is calculated based on weighted-average diluted shares of 22 million, which
includes the effect of dilutive securities of 0.2 million.
Tables reconciling non-GAAP financial measures to GAAP financial measures, as reported, are included below.
Conference Call
The Company has scheduled a conference call for Thursday, May 7, 2026 at 11:00 a.m. (Eastern Time). The dial-in number for the conference call is 1-844-826-3035 (USA) or 1-412-317-5195 (International).
In addition, a live webcast of the conference call will be accessible through:
https://viavid.webcasts.com/starthere.jsp?ei=1759261&tp_key=a7a59b56d9
For those who cannot listen to the live broadcast, an audio replay of the webcast will be available on the Company’s investor relations website at https://lifetimebrands.gcs-web.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International) and entering access code 10208255. The replay of the webcast will be available for one year.
Non-GAAP Financial Measures
This earnings release contains non-GAAP financial measures, including constant currency net sales, adjusted income (loss) from operations, adjusted net income (loss), adjusted diluted income (loss) per common share, adjusted EBITDA and adjusted EBITDA, before limitation. A non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets, or statements of cash flows of a company; or, includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. These non-GAAP financial measures are provided because the Company's management uses these financial measures in evaluating the Company’s on-going financial results and trends, and management believes that exclusion of certain items allows for more accurate period-to-period comparison of the Company’s operating performance by investors and analysts. Management uses these non-GAAP financial measures as indicators of business performance. These non-GAAP financial measures should be viewed as a supplement to, and not a substitute for, GAAP financial measures of performance. As required by SEC rules, the Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
Forward-Looking Statements
In this press release, the use of the words “advance,” “believe,” “continue,” “could,” “deliver,” “drive,” “enable,” “expect,” “gain,” “goal,” “grow,” “intend,” “maintain,” “manage,” “may,” “outlook,” “plan,” “positioned,” “project,” “projected,” “should,” “take,” “target,” “unlock,” “will,” “would”, or similar expressions is intended to identify forward-looking statements. Such statements include all statements regarding the growth of the Company, the Company’s financial guidance, the Company’s ability to navigate the current environment and advance the Company’s strategy, the Company’s commitment to increasing investments in future growth initiatives, the Company’s initiatives to create value, the Company’s efforts to mitigate geopolitical factors and tariffs, the Company’s current and projected financial and operating performance, results, and profitability and all guidance related thereto, including forecasted exchange rates and effective tax rates, as well as the Company’s continued growth and success, future plans and intentions regarding the Company and its consolidated subsidiaries. Such statements represent the Company’s current judgments, estimates, and assumptions. The Company believes these judgments, estimates, and assumptions are reasonable, but these statements are not guarantees of any events or financial or operational results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company’s ability to comply with the requirements of its credit agreements; the availability of funding under such credit agreements; the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt, as well as to deleverage its balance sheet; seasonality of the Company's cash flows; the possibility of impairments to the Company’s goodwill; the possibility of impairments to the Company’s intangible assets; the highly seasonal nature of the Company’s business; the Company’s ability to drive future growth and profitability from its European operations; changes in U.S. or foreign trade or tax law and policy; changes in general economic conditions that could impact the Company’s customers and affect customer purchasing practices or consumer spending; customer ordering behavior; the performance of the Company’s newer products; expenses and other challenges relating to the integration of any future acquisitions; changes in demand for the Company’s products; changes in the Company’s management team; the significant influence of the Company’s largest stockholder; fluctuations in foreign exchange rates; changes in U.S. trade policy or the trade policies of nations in which the Company or the Company’s suppliers do business; shortages of and price volatility for certain commodities; global health epidemic; social unrest, including related protests and disturbances; the emergence, continuation and consequences of geopolitical conditions, including political instability in the U.S. and abroad, unrest, sanctions, war and armed conflicts, increasing regional and global tensions, and associated disruptions and volatility in energy and oil markets; macro-economic challenges, including labor disputes, depreciation of the U.S. dollar, volatility in the capital markets, inflationary impacts and disruptions to the global supply chain; dependence on third-party manufacturers; increase in supply chain costs, including raw materials, sourcing, transportation and energy; the imposition of duties and tariffs and other trade barriers and retaliatory countermeasures and/or economic sanctions implemented by the U.S. and other governments; impact of tariffs and trade policies, particularly with respect to China; the Company’s ability to successfully integrate acquired businesses; the Company’s expectations regarding customer purchasing practices and the future level of demand for the Company’s products; the Company’s ability to execute on the goals and strategies set forth in the Company’s Project Concord plan; and significant changes in the competitive environment and the effect of competition on the Company’s markets, including on the Company’s pricing policies, financing sources and ability to maintain an appropriate level of debt. The Company undertakes no obligation to update these forward-looking statements other than as required by law.
Lifetime Brands, Inc.
Lifetime Brands is a leading global designer, developer and marketer of a broad range of branded consumer products used in the home. The Company markets its products under well-known kitchenware brands, including Farberware®, KitchenAid®, Sabatier®, Amco Houseworks®, Chef’n® Chicago™ Metallic, Copco®, Fred® & Friends, Houdini™, KitchenCraft®, Kamenstein®, La Cafetière®, MasterClass®, Misto®, Swing-A-Way®, Taylor® Kitchen, Rabbit®, and Dolly®; respected tableware and giftware brands, including Mikasa®, Pfaltzgraff®, Fitz and Floyd®, Empire Silver™, Gorham®, International® Silver, Towle® Silversmiths, Wallace®, Wilton Armetale®, V&A®, Royal Botanic Gardens Kew®, Year & Day®, Dolly®, Royal Leerdam®, and ONIS®; and valued home solutions brands, including BUILT NY®, S’well®, Taylor® Bath, Taylor® Kitchen, Taylor® Weather, Elements®, Planet Box®, and Dolly®. The Company also provides exclusive private label products to leading retailers worldwide.
The Company’s corporate website is www.lifetimebrands.com.
Contacts:
Lifetime Brands, Inc.
Laurence Winoker, Chief Financial Officer
516-203-3590
investor.relations@lifetimebrands.com
or
MZ North America
Shannon Devine
Main: 203-741-8811
LCUT@mzgroup.us
| LIFETIME BRANDS, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
| (in thousands—except per share data) | |||||||
| (unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Net sales | $ | 143,508 | $ | 140,085 | |||
| Cost of sales | 89,339 | 89,448 | |||||
| Gross margin | 54,169 | 50,637 | |||||
| Distribution expenses | 17,583 | 18,070 | |||||
| Selling, general and administrative expenses | 36,786 | 31,468 | |||||
| Restructuring expenses | 2,030 | — | |||||
| (Loss) income from operations | (2,230 | ) | 1,099 | ||||
| Interest expense | (4,512 | ) | (4,915 | ) | |||
| Mark to market gain (loss) on interest rate derivatives | 294 | (527 | ) | ||||
| Loss before income taxes | (6,448 | ) | (4,343 | ) | |||
| Income tax benefit | 1,676 | 142 | |||||
| NETLOSS | $ | (4,772 | ) | $ | (4,201 | ) | |
| BASIC LOSS PER COMMON SHARE | $ | (0.22 | ) | $ | (0.19 | ) | |
| DILUTED LOSS PER COMMON SHARE | $ | (0.22 | ) | $ | (0.19 | ) | |
| LIFETIME BRANDS, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (in thousands—except share data) | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| CURRENT ASSETS | |||||||
| Cash and cash equivalents | $ | 13,864 | $ | 4,267 | |||
| Accounts receivable, less allowances of | 114,949 | 161,861 | |||||
| Inventory | 190,299 | 194,046 | |||||
| Prepaid expenses and other current assets | 11,704 | 12,147 | |||||
| Income taxes receivable | 3,384 | 1,572 | |||||
| TOTAL CURRENT ASSETS | 334,200 | 373,893 | |||||
| PROPERTY AND EQUIPMENT, net | 18,260 | 15,441 | |||||
| OPERATING LEASE RIGHT-OF-USE ASSETS | 45,008 | 48,506 | |||||
| INTANGIBLE ASSETS, net | 128,557 | 132,922 | |||||
| OTHER ASSETS | 1,836 | 1,793 | |||||
| TOTAL ASSETS | $ | 527,861 | $ | 572,555 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| CURRENT LIABILITIES | |||||||
| Current maturity of term loan | $ | 5,057 | $ | 5,022 | |||
| Accounts payable | 26,710 | 45,844 | |||||
| Accrued expenses | 67,104 | 64,294 | |||||
| Current portion of operating lease liabilities | 15,237 | 16,143 | |||||
| TOTAL CURRENT LIABILITIES | 114,108 | 131,303 | |||||
| OTHER LONG-TERM LIABILITIES | 13,552 | 14,261 | |||||
| INCOME TAXES PAYABLE, LONG-TERM | 686 | 686 | |||||
| OPERATING LEASE LIABILITIES | 39,239 | 42,442 | |||||
| DEFERRED INCOME TAXES | 1,519 | 1,554 | |||||
| REVOLVING CREDIT FACILITY | 36,611 | 54,105 | |||||
| TERM LOAN | 124,650 | 125,927 | |||||
| STOCKHOLDERS’ EQUITY | |||||||
| Preferred stock, | — | — | |||||
| Common stock, | 229 | 227 | |||||
| Paid-in capital | 284,305 | 283,449 | |||||
| Accumulated deficit | (69,132 | ) | (63,354 | ) | |||
| Accumulated other comprehensive loss | (17,906 | ) | (18,045 | ) | |||
| TOTAL STOCKHOLDERS’ EQUITY | 197,496 | 202,277 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 527,861 | $ | 572,555 | |||
| LIFETIME BRANDS, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (in thousands) | |||||||
| (unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net loss | $ | (4,772 | ) | $ | (4,201 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 5,282 | 5,698 | |||||
| Amortization of financing costs | 669 | 704 | |||||
| Mark to market (gain) loss on interest rate derivatives | (294 | ) | 527 | ||||
| Operating leases, net | (593 | ) | (556 | ) | |||
| Provision for doubtful accounts | 8 | 704 | |||||
| Stock compensation expense | 1,043 | 1,062 | |||||
| Changes in operating assets and liabilities | |||||||
| Accounts receivable | 46,774 | 50,832 | |||||
| Inventory | 3,282 | (6,324 | ) | ||||
| Prepaid expenses, other current assets and other assets | 324 | (3,345 | ) | ||||
| Accounts payable, accrued expenses and other liabilities | (16,160 | ) | (28,038 | ) | |||
| Income taxes receivable | (1,812 | ) | — | ||||
| Income taxes payable | 8 | (352 | ) | ||||
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 33,759 | 16,711 | |||||
| INVESTING ACTIVITIES | |||||||
| Purchases of property and equipment | (3,843 | ) | (1,573 | ) | |||
| NET CASH USED IN INVESTING ACTIVITIES | (3,843 | ) | (1,573 | ) | |||
| FINANCING ACTIVITIES | |||||||
| Proceeds from revolving credit facility | 48,669 | 88,894 | |||||
| Repayments of revolving credit facility | (65,875 | ) | (93,363 | ) | |||
| Repayments of term loan | (1,875 | ) | (1,875 | ) | |||
| Payments for finance lease obligations | (12 | ) | (11 | ) | |||
| Payments of tax withholding for stock based compensation | (183 | ) | (416 | ) | |||
| Cash dividends paid | (1,015 | ) | (996 | ) | |||
| NET CASH USED IN FINANCING ACTIVITIES | (20,291 | ) | (7,767 | ) | |||
| Effect of foreign exchange on cash | (28 | ) | 75 | ||||
| INCREASE IN CASH AND CASH EQUIVALENTS | 9,597 | 7,446 | |||||
| Cash and cash equivalents at beginning of period | 4,267 | 2,929 | |||||
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 13,864 | $ | 10,375 | |||
| LIFETIME BRANDS, INC. | |||||||||||||||||||
| Supplemental Information | |||||||||||||||||||
| (in thousands) | |||||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Operating Results | |||||||||||||||||||
| Adjusted EBITDA for the twelve months ended March 31, 2026: | |||||||||||||||||||
| Quarter Ended | Twelve Months Ended March 31, 2026 | ||||||||||||||||||
| June 30, 2025 | September 30, 2025 | December 31, 2025 | March 31, 2026 | ||||||||||||||||
| (in thousands) | |||||||||||||||||||
| Net (loss) income as reported | $ | (39,699 | ) | $ | (1,189 | ) | $ | 18,152 | $ | (4,772 | ) | $ | (27,508 | ) | |||||
| Income tax (benefit) provision | (2,782 | ) | 2,861 | (3,220 | ) | (1,676 | ) | (4,817 | ) | ||||||||||
| Interest expense | 5,054 | 5,013 | 5,048 | 4,512 | 19,627 | ||||||||||||||
| Depreciation and amortization | 5,437 | 5,398 | 5,315 | 5,282 | 21,432 | ||||||||||||||
| Gain on disposition of fixed assets | — | (94 | ) | — | — | (94 | ) | ||||||||||||
| Mark to market loss (gain) on interest rate derivatives | 220 | 8 | (1 | ) | (294 | ) | (67 | ) | |||||||||||
| Goodwill impairment | 33,237 | — | — | — | 33,237 | ||||||||||||||
| Stock compensation expense | 1,044 | 994 | 201 | 1,043 | 3,282 | ||||||||||||||
| Severance expense | 270 | — | 241 | — | 511 | ||||||||||||||
| Acquisition-related diligence expenses | 123 | 49 | 1,799 | 1,104 | 3,075 | ||||||||||||||
| Restructuring expenses | — | 304 | 24 | 2,030 | 2,358 | ||||||||||||||
| Warehouse relocation and redesign expenses(1) | 139 | 76 | 48 | 159 | 422 | ||||||||||||||
| Pro forma adjustments(2) | 1,250 | ||||||||||||||||||
| Adjusted EBITDA(3) | $ | 3,043 | $ | 13,420 | $ | 27,607 | $ | 7,388 | $ | 52,708 | |||||||||
(1) For the twelve months ended March 31, 2026, warehouse relocation and redesign expenses were related to the U.S. segment.
(2) Pro forma adjustments represent operating expense reductions projected by the Company as a result of actions taken through March 31, 2026 or expected to be taken within 18 months of March 31, 2026, net of the benefits realized during the twelve months ended March 31, 2026. These actions include cost savings initiatives for the U.S. segment related to reductions in employee expenses and cost savings for the International segment related to Project Concord.
(3) Adjusted EBITDA is a non-GAAP financial measure that is defined in the Company’s debt agreements. Adjusted EBITDA is defined as net (loss) income, adjusted to exclude income tax (benefit) provision, interest expense, depreciation and amortization, gain on disposition of fixed assets, mark to market loss (gain) on interest rate derivatives, goodwill impairment, stock compensation expense, and other items detailed in the table above that are consistent with exclusions permitted by the Company’s debt agreements.
| LIFETIME BRANDS, INC. | |||||||
| Supplemental Information | |||||||
| (in thousands—except per share data) | |||||||
| Reconciliation of GAAP to Non-GAAP Operating Results (continued) | |||||||
| Adjusted net income (loss) and adjusted diluted income (loss) per common share (in thousands -except per share data): | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Net loss as reported | $ | (4,772 | ) | $ | (4,201 | ) | |
| Adjustments: | |||||||
| Acquisition-related intangible amortization expense | 4,350 | 4,365 | |||||
| Legal settlement gain, net | — | (6,400 | ) | ||||
| Acquisition-related diligence expenses | 1,104 | — | |||||
| Restructuring expenses | 2,030 | — | |||||
| Warehouse relocation and redesign expenses(1) | 159 | — | |||||
| Mark to market (gain) loss on interest rate derivatives | (294 | ) | 527 | ||||
| Income tax effect on adjustments | (1,773 | ) | 395 | ||||
| Adjusted net income (loss)(2) | $ | 804 | $ | (5,314 | ) | ||
| Adjusted diluted income (loss) per common share(3) | $ | 0.04 | $ | (0.25 | ) | ||
(1) For the three months ended March 31, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment.
(2) Adjusted net income and adjusted diluted income per common share for the three months ended March 31, 2026 excludes acquisition-related intangible amortization expense, acquisition-related diligence expenses, restructuring expenses, warehouse relocation and redesign expenses, and mark to market gain on interest rate derivatives. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments and the income tax provision adjustment.
Adjusted net loss and adjusted diluted loss per common share for the three months ended March 31, 2025 excludes acquisition-related intangible amortization expense, a legal settlement gain, net, and mark to market loss on interest rate derivatives. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments.
(3) Adjusted diluted income (loss) per common share is calculated based on diluted weighted-average shares outstanding of 22,037 and 21,592 for the three months ended March 31, 2026 and 2025, respectively. The diluted weighted-average shares outstanding for the three months ended March 31, 2026 and 2025 include the effect of dilutive securities of 219 and zero, respectively.
| Adjusted income (loss) from operations (in thousands): | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (Loss) income from operations | $ | (2,230 | ) | $ | 1,099 | ||
| Adjustments: | |||||||
| Acquisition-related intangible amortization expense | 4,350 | 4,365 | |||||
| Legal settlement gain, net | — | (6,400 | ) | ||||
| Acquisition-related diligence expenses | 1,104 | — | |||||
| Restructuring expenses | 2,030 | — | |||||
| Warehouse relocation and redesign expenses(1) | 159 | — | |||||
| Total adjustments | 7,643 | (2,035 | ) | ||||
| Adjusted income (loss) from operations(2) | $ | 5,413 | $ | (936 | ) | ||
(1) For the three months ended March 31, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment.
(2) Adjusted income from operations for the three months ended March 31, 2026 excludes acquisition-related intangible amortization expense, acquisition-related diligence expenses, restructuring expenses, and warehouse relocation and redesign expenses. Adjusted loss from operations for the three months ended March 31, 2025, excludes acquisition-related intangible amortization expense, and a legal settlement gain, net.
| LIFETIME BRANDS, INC. | ||||||||||||||||||||||||||||||
| Supplemental Information | ||||||||||||||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Operating Results (continued) | ||||||||||||||||||||||||||||||
| Constant Currency: | ||||||||||||||||||||||||||||||
| As Reported Three Months Ended March 31, | Constant Currency(1) Three Months Ended March 31, | Year-Over-Year Increase (Decrease) | ||||||||||||||||||||||||||||
| Net sales | 2026 | 2025 | Increase (Decrease) | 2026 | 2025 | Increase (Decrease) | Currency Impact | Excluding Currency | Including Currency | Currency Impact | ||||||||||||||||||||
| U.S. | $ | 130,707 | $ | 128,510 | $ | 2,197 | $ | 130,707 | $ | 128,525 | $ | 2,182 | $ | (15 | ) | 1.7 | % | 1.7 | % | — | % | |||||||||
| International | 12,801 | 11,575 | 1,226 | 12,801 | 12,493 | 308 | (918 | ) | 2.5 | % | 10.6 | % | 8.1 | % | ||||||||||||||||
| Total net sales | $ | 143,508 | $ | 140,085 | $ | 3,423 | $ | 143,508 | $ | 141,018 | $ | 2,490 | $ | (933 | ) | 1.8 | % | 2.4 | % | 0.6 | % | |||||||||
(1) “Constant Currency” is determined by applying the 2026 average exchange rates to the prior year local currency sales amounts, with the difference between the change in “As Reported” net sales and “Constant Currency” net sales, reported in the table as “Currency Impact.” Constant currency sales growth is intended to exclude the impact of fluctuations in foreign currency exchange rates.
| LIFETIME BRANDS, INC. | |
| Supplemental Information | |
| Reconciliation of GAAP to Non-GAAP Updated Guidance | |
| Adjusted EBITDA guidance for the full year endingDecember 31, 2026(in millions): | |
| Net loss guidance | |
| Income tax expense | 0.5 to 1.5 |
| Interest expense(1) | 18 |
| Depreciation and amortization | 22 |
| Stock compensation expense | 4 |
| Acquisition-related diligence expenses | 1.5 |
| Restructuring expenses | 7 |
| Warehouse relocation and redesign expenses | 7 |
| Adjusted EBITDA guidance, before limitation | |
| Adjusted net income and adjusted diluted income per common share guidance for the full year ending December 31, 2026 (in millions - except per share data): | |
| Net loss guidance | |
| Acquisition-related intangible amortization expense | 17 |
| Acquisition-related diligence expenses | 1.5 |
| Restructuring expenses | 7 |
| Warehouse relocation and redesign expenses | 7 |
| Mark to market gain on interest rate derivatives | (0.5) |
| Income tax effect on adjustment | (9.5) |
| Adjusted net income guidance | |
| Adjusted diluted income per share guidance | |
| Adjusted income from operations guidance for the full year endingDecember 31, 2026(in millions): | |
| Income from operations guidance | |
| Acquisition-related intangible amortization expense | 17 |
| Acquisition-related diligence expenses | 1.5 |
| Restructuring expenses | 7 |
| Warehouse relocation and redesign expenses | 7 |
| Adjusted income from operations | |
(1) Includes estimate for interest expense and mark to market gain on interest rate derivatives.
