Lifetime Brands, Inc. Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Lifetime Brands (NasdaqGS: LCUT) reported second quarter 2026 net sales of $141.6 million, up 7.4% year over year, with constant-currency growth of 7.2%. Gross margin rose to 65.9%, reflecting a $40.1 million tariff refund benefit. Income from operations was $31.6 million versus a $(37.2) million loss a year ago, and adjusted income from operations increased to $41.1 million.
Net income was $19.6 million, or $0.87 per diluted share, compared with a net loss of $(39.7) million, or $(1.83) per share. Adjusted net income reached $26.6 million, or $1.18 per diluted share. For the first half of 2026, net sales grew 4.9% to $285.1 million, and adjusted EBITDA for the trailing twelve months was $92.0 million. Liquidity totaled $150.6 million.
The company repaid $40 million of term debt since the end of Q1 2026 and its Board declared a quarterly dividend of $0.0425 per share, payable November 13, 2026. Lifetime reaffirmed 2026 net sales guidance of $650–$700 million and significantly increased earnings guidance, with income from operations now expected at $48–$50.5 million and adjusted EBITDA at $90.5–$93 million.
Positive
- Q2 2026 net sales $141.6m, up 7.4% year over year
- Q2 2026 adjusted net income $26.6m vs. $(2.6)m in 2025
- Six‑month 2026 net income $14.8m vs. $(43.9)m loss in 2025
- Trailing twelve‑month adjusted EBITDA $92.0m as of June 30, 2026
- 2026 income from operations guidance raised from $12–$14.5m to $48–$50.5m
- Term debt repaid $40m since end of Q1 2026 using cash and tariff refunds
Negative
- Q2 2026 SG&A expenses increased 5.3% to $39.5m year over year
- Six‑month 2026 SG&A rose 10.6% to $76.3m vs. 2025
- Restructuring expenses 2026 year‑to‑date totaled $4.0m
- Q2 2026 results included a $40.1m pre‑tax tariff refund benefit boosting earnings
News Explained
At June 30, $150.6 million of reported liquidity included $5.5 million in cash and facility availability.
The completed second-quarter report shows that, as of
The balance sheet also reported
Market Reaction – LCUT
Following this news, LCUT has gained 2.26%, reflecting a moderate positive market reaction. Argus tracked a peak move of +6.6% during the session. Argus tracked a trough of -13.9% from its starting point during tracking. Our momentum scanner has triggered 9 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $8.61. Trading volume is elevated at 2.3x the average, suggesting notable buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 23 | earnings release notice | Neutral | -1.9% | Announced second-quarter results release date and conference call logistics |
| May 07 | first-quarter earnings | Positive | +29.1% | Reported first-quarter results and issued full-year 2026 guidance |
| Apr 23 | earnings release notice | Neutral | -2.5% | Announced first-quarter results release date and conference call logistics |
| Mar 12 | fourth-quarter earnings | Positive | +15.2% | Reported fourth-quarter results and declared a quarterly dividend |
| Nov 06 | third-quarter earnings | Negative | -1.0% | Reported lower sales, weaker margins, and a quarterly net loss |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
LCUT's earnings releases mostly aligned with subsequent price reactions, while earnings scheduling notices diverged.
Key Terms
non-gaap financial measure financial
constant currency financial
adjusted ebitda financial
abl agreement financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Declares Regular Quarterly Dividend
GARDEN CITY, N.Y., Aug. 06, 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 June 30, 2026.
Rob Kay, Lifetime's Chief Executive Officer, commented, “Our second quarter results were in line with expectations and reflected notable growth compared to the prior year period that had been adversely impacted by the U.S. government implementation of initial high tariff rates across many countries. Net sales were up
Second Quarter Financial Results:
Consolidated net sales for the three months ended June 30, 2026 were
Gross margin for the three months ended June 30, 2026 was
Selling, general and administrative expenses for the three months ended June 30, 2026 were
Income from operations was
Adjusted income from operations(1) was
Net income was
Adjusted net income(1) was
(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.
Six Months Financial Results:
Consolidated net sales for the six months ended June 30, 2026 were
Gross margin for the six months ended June 30, 2026 was
Selling, general and administrative expenses for the six months ended June 30, 2026 were
Income from operations was
Adjusted income from operations(1) was
Net income was
Adjusted net income(1) was
Adjusted EBITDA(1) was
Liquidity as of June 30, 2026 was
(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.
Dividend
On August 4, 2026, the Board declared a quarterly dividend of
Full Year 2026 Guidance Updates
For the full year ending December 31, 2026, the Company is updating its financial guidance as follows:
(in millions - except per share data):
| Previous Guidance for the Year Ending December 31, 2026 | Updated Guidance for the Year Ending December 31, 2026 | |||
| Net sales | ||||
| Income from operations | ||||
| Adjusted income from operations | ||||
| Net (loss) income | ||||
| Adjusted net income | ||||
| Diluted (loss) income per common share(1) | ||||
| Adjusted diluted income per common share(2) | ||||
| Weighted-average diluted shares | 22 | 22.3 | ||
| Adjusted EBITDA, before limitation | ||||
(1) Diluted (loss) income per common share is calculated based on weighted-average shares outstanding of 21.8 million and 22.3 million, respectively. (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, and 22.3 million, respectively. | ||||
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, August 6, 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=1766897&tp_key=4a751b1112
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 10209750. 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 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, including the risk of frequent changes, legal challenges, or reinstatement in modified form; 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 June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net sales | $ | 141,569 | $ | 131,862 | $ | 285,077 | $ | 271,947 | ||||||||
| Cost of sales | 48,330 | 81,023 | 137,669 | 170,471 | ||||||||||||
| Gross margin | 93,239 | 50,839 | 147,408 | 101,476 | ||||||||||||
| Distribution expenses | 20,095 | 17,314 | 37,678 | 35,384 | ||||||||||||
| Selling, general and administrative expenses | 39,539 | 37,495 | 76,325 | 68,963 | ||||||||||||
| Goodwill impairment | — | 33,237 | — | 33,237 | ||||||||||||
| Restructuring expenses | 1,980 | — | 4,010 | — | ||||||||||||
| Income (loss) from operations | 31,625 | (37,207 | ) | 29,395 | (36,108 | ) | ||||||||||
| Interest expense | (4,122 | ) | (5,054 | ) | (8,634 | ) | (9,969 | ) | ||||||||
| Mark to market gain (loss) on interest rate derivatives | 210 | (220 | ) | 504 | (747 | ) | ||||||||||
| Income (loss) before income taxes | 27,713 | (42,481 | ) | 21,265 | (46,824 | ) | ||||||||||
| Income tax (provision) benefit | (8,104 | ) | 2,782 | (6,428 | ) | 2,924 | ||||||||||
| NET INCOME (LOSS) | $ | 19,609 | $ | (39,699 | ) | $ | 14,837 | $ | (43,900 | ) | ||||||
| BASIC INCOME (LOSS) PER COMMON SHARE | $ | 0.89 | $ | (1.83 | ) | $ | 0.68 | $ | (2.03 | ) | ||||||
| DILUTED INCOME (LOSS) PER COMMON SHARE | $ | 0.87 | $ | (1.83 | ) | $ | 0.66 | $ | (2.03 | ) | ||||||
| LIFETIME BRANDS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands—except share data) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 5,451 | $ | 4,267 | ||||
| Accounts receivable, less allowances of | 120,879 | 161,861 | ||||||
| Inventory | 197,074 | 194,046 | ||||||
| Prepaid expenses and other current assets | 49,042 | 12,147 | ||||||
| Income taxes receivable | — | 1,572 | ||||||
| TOTAL CURRENT ASSETS | 372,446 | 373,893 | ||||||
| PROPERTY AND EQUIPMENT, net | 23,811 | 15,441 | ||||||
| OPERATING LEASE RIGHT-OF-USE ASSETS | 95,728 | 48,506 | ||||||
| INTANGIBLE ASSETS, net | 124,289 | 132,922 | ||||||
| OTHER ASSETS | 725 | 1,793 | ||||||
| TOTAL ASSETS | $ | 616,999 | $ | 572,555 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Current maturity of term loan | $ | — | $ | 5,022 | ||||
| Current maturity of revolving credit facility | 37,906 | — | ||||||
| Accounts payable | 48,740 | 45,844 | ||||||
| Accrued expenses | 71,164 | 64,294 | ||||||
| Income taxes payable | 4,395 | — | ||||||
| Current portion of operating lease liabilities | 14,300 | 16,143 | ||||||
| TOTAL CURRENT LIABILITIES | 176,505 | 131,303 | ||||||
| OTHER LONG-TERM LIABILITIES | 13,669 | 14,261 | ||||||
| INCOME TAXES PAYABLE, LONG-TERM | 686 | 686 | ||||||
| OPERATING LEASE LIABILITIES | 96,805 | 42,442 | ||||||
| DEFERRED INCOME TAXES | 1,525 | 1,554 | ||||||
| REVOLVING CREDIT FACILITY | — | 54,105 | ||||||
| TERM LOAN | 110,332 | 125,927 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 230 | 227 | ||||||
| Paid-in capital | 285,571 | 283,449 | ||||||
| Accumulated deficit | (50,533 | ) | (63,354 | ) | ||||
| Accumulated other comprehensive loss | (17,791 | ) | (18,045 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 217,477 | 202,277 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 616,999 | $ | 572,555 | ||||
| LIFETIME BRANDS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) | ||||||||
| Six Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| OPERATING ACTIVITIES | ||||||||
| Net income (loss) | $ | 14,837 | $ | (43,900 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 10,644 | 11,135 | ||||||
| Goodwill impairment | — | 33,237 | ||||||
| Non-cash restructuring charges | 296 | — | ||||||
| Amortization of financing costs | 1,330 | 1,390 | ||||||
| Mark to market (gain) loss on interest rate derivatives | (504 | ) | 747 | |||||
| Operating leases, net | (759 | ) | (1,134 | ) | ||||
| Provision for doubtful accounts | 45 | 1,408 | ||||||
| Stock compensation expense | 1,992 | 2,106 | ||||||
| Changes in operating assets and liabilities | ||||||||
| Accounts receivable | 40,793 | 67,239 | ||||||
| Inventory | (3,471 | ) | (12,318 | ) | ||||
| Prepaid expenses, other current assets and other assets | (34,880 | ) | (629 | ) | ||||
| Accounts payable, accrued expenses and other liabilities | 9,711 | (27,319 | ) | |||||
| Income taxes receivable | 1,572 | (5,036 | ) | |||||
| Income taxes payable | 4,402 | (869 | ) | |||||
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 46,008 | 26,057 | ||||||
| INVESTING ACTIVITIES | ||||||||
| Purchases of property and equipment | (5,176 | ) | (2,746 | ) | ||||
| NET CASH USED IN INVESTING ACTIVITIES | (5,176 | ) | (2,746 | ) | ||||
| FINANCING ACTIVITIES | ||||||||
| Proceeds from revolving credit facility | 82,073 | 145,891 | ||||||
| Repayments of revolving credit facility | (97,885 | ) | (154,134 | ) | ||||
| Repayments of term loan | (21,875 | ) | (3,750 | ) | ||||
| Payments for finance lease obligations | (24 | ) | (21 | ) | ||||
| Payments of tax withholding for stock based compensation | (183 | ) | (416 | ) | ||||
| Proceeds from the exercise of stock options | 294 | — | ||||||
| Cash dividends paid | (1,990 | ) | (1,933 | ) | ||||
| NET CASH USED IN FINANCING ACTIVITIES | (39,590 | ) | (14,363 | ) | ||||
| Effect of foreign exchange on cash | (58 | ) | 168 | |||||
| INCREASE IN CASH AND CASH EQUIVALENTS | 1,184 | 9,116 | ||||||
| Cash and cash equivalents at beginning of period | 4,267 | 2,929 | ||||||
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ | 5,451 | $ | 12,045 | ||||
| LIFETIME BRANDS, INC. Supplemental Information (in thousands) Reconciliation of GAAP to Non-GAAP Operating Results | ||||||||||||||||||||
| Adjusted EBITDA for the twelve months ended June 30, 2026: | ||||||||||||||||||||
| Quarter Ended | Twelve Months Ended June 30, 2026 | |||||||||||||||||||
| September 30, 2025 | December 31, 2025 | March 31, 2026 | June 30, 2026 | |||||||||||||||||
| (in thousands) | ||||||||||||||||||||
| Net (loss) income as reported | $ | (1,189 | ) | $ | 18,152 | $ | (4,772 | ) | $ | 19,609 | $ | 31,800 | ||||||||
| Income tax provision (benefit) | 2,861 | (3,220 | ) | (1,676 | ) | 8,104 | 6,069 | |||||||||||||
| Interest expense | 5,013 | 5,048 | 4,512 | 4,122 | 18,695 | |||||||||||||||
| Depreciation and amortization | 5,398 | 5,315 | 5,282 | 5,362 | 21,357 | |||||||||||||||
| Gain on disposition of fixed assets | (94 | ) | — | — | — | (94 | ) | |||||||||||||
| Mark to market loss (gain) on interest rate derivatives | 8 | (1 | ) | (294 | ) | (210 | ) | (497 | ) | |||||||||||
| Stock compensation expense | 994 | 201 | 1,043 | 949 | 3,187 | |||||||||||||||
| Severance expense | — | 241 | — | — | 241 | |||||||||||||||
| Acquisition-related diligence expenses | 49 | 1,799 | 1,104 | 972 | 3,924 | |||||||||||||||
| Restructuring expenses | 304 | 24 | 2,030 | 1,980 | 4,338 | |||||||||||||||
| Warehouse relocation and redesign expenses(1) | 76 | 48 | 159 | 2,242 | 2,525 | |||||||||||||||
| Pro forma adjustments(2) | 500 | |||||||||||||||||||
| Adjusted EBITDA(3) | $ | 13,420 | $ | 27,607 | $ | 7,388 | $ | 43,130 | $ | 92,045 | ||||||||||
(1) For the twelve months ended June 30, 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 June 30, 2026 or expected to be taken within 18 months of June 30, 2026, net of the benefits realized during the twelve months ended June 30, 2026. These actions include 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 provision (benefit), interest expense, depreciation and amortization, gain on disposition of fixed assets, mark to market loss (gain) on interest rate derivatives, 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 June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net income (loss) as reported | $ | 19,609 | $ | (39,699 | ) | $ | 14,837 | $ | (43,900 | ) | ||||||
| Adjustments: | ||||||||||||||||
| Acquisition-related intangible amortization expense | 4,270 | 4,374 | 8,620 | 8,739 | ||||||||||||
| Legal settlement gain, net | — | — | — | (6,400 | ) | |||||||||||
| Acquisition-related diligence expenses | 972 | 123 | 2,076 | 123 | ||||||||||||
| Restructuring expenses | 1,980 | — | 4,010 | — | ||||||||||||
| Warehouse relocation and redesign expenses(1) | 2,242 | 139 | 2,401 | 139 | ||||||||||||
| Severance expense | — | 270 | — | 270 | ||||||||||||
| Mark to market (gain) loss on interest rate derivatives | (210 | ) | 220 | (504 | ) | 747 | ||||||||||
| Goodwill impairment | — | 33,237 | — | 33,237 | ||||||||||||
| Income tax effect on adjustments | (2,291 | ) | (9,571 | ) | (4,064 | ) | (9,176 | ) | ||||||||
| Income tax provision adjustment(2) | — | 8,309 | — | 8,309 | ||||||||||||
| Adjusted net income (loss)(3) | $ | 26,572 | $ | (2,598 | ) | $ | 27,376 | $ | (7,912 | ) | ||||||
| Adjusted diluted income (loss) per common share(4) | $ | 1.18 | $ | (0.12 | ) | $ | 1.23 | $ | (0.37 | ) | ||||||
(1) For the three and six months ended June 30, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment. (2) The income tax provision adjustment is calculated using the effective tax rate for the three and six months ended June 30, 2025 of (3) Adjusted net income and adjusted diluted income per common share for the three and six months ended June 30, 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 and six months ended June 30, 2025 excludes acquisition-related intangible amortization expense, a legal settlement gain, net, acquisition related expenses, warehouse relocation and redesign expenses, severance expense, mark to market loss on interest rate derivatives, and goodwill impairment. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments. Adjusted net loss has been recast to include the income tax provision adjustment. (4) Adjusted diluted income per common share is calculated based on diluted weighted-average shares outstanding of 22,612 and 21,686 for the three months ended June 30, 2026 and 2025, respectively. Adjusted diluted loss per common share is calculated based on diluted weighted-average shares outstanding of 22,325 and 21,639 for the six month period ended June 30, 2026 and 2025, respectively. The diluted weighted-average shares outstanding for the three and six months ended June 30, 2026 include the effect of dilutive securities of 619 and 419, respectively. The diluted weighted-average shares outstanding for the three and six months ended June 30, 2025 do not include the effect of dilutive securities. | ||||||||||||||||
| Adjusted income from operations (in thousands): | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Income (loss) from operations | $ | 31,625 | $ | (37,207 | ) | $ | 29,395 | $ | (36,108 | ) | ||||||
| Adjustments: | ||||||||||||||||
| Acquisition-related intangible amortization expense | 4,270 | 4,374 | 8,620 | 8,739 | ||||||||||||
| Legal settlement gain, net | — | — | — | (6,400 | ) | |||||||||||
| Acquisition-related diligence expenses | 972 | 123 | 2,076 | 123 | ||||||||||||
| Restructuring expenses | 1,980 | — | 4,010 | — | ||||||||||||
| Warehouse relocation and redesign expenses(1) | 2,242 | 139 | 2,401 | 139 | ||||||||||||
| Severance expense | — | 270 | — | 270 | ||||||||||||
| Goodwill impairment | — | 33,237 | — | 33,237 | ||||||||||||
| Total adjustments | 9,464 | 38,143 | 17,107 | 36,108 | ||||||||||||
| Adjusted income from operations(2) | $ | 41,089 | $ | 936 | $ | 46,502 | $ | — | ||||||||
(1) For the three and six months ended June 30, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment. (2) Adjusted income from operations for the three and six months ended June 30, 2026 excludes acquisition-related intangible amortization expense, acquisition-related diligence expenses, restructuring expenses, and warehouse relocation and redesign expenses. Adjusted income from operations for the three and six months ended June 30, 2025, excludes acquisition-related intangible amortization expense, a legal settlement gain, net, acquisition-related diligence expenses, warehouse relocation and redesign expenses, severance expenses, and goodwill impairment. | ||||||||||||||||
| LIFETIME BRANDS, INC. Supplemental Information (in thousands) Reconciliation of GAAP to Non-GAAP Operating Results (continued) | |||||||||||||||||||||||||||
| Constant Currency: | |||||||||||||||||||||||||||
| As Reported Three Months Ended June 30, | Constant Currency(1) Three Months Ended June 30, | 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. | $ | 128,167 | $ | 119,315 | $ | 8,852 | $ | 128,167 | $ | 119,315 | $ | 8,852 | $ | — | —% | ||||||||||||
| International | 13,402 | 12,547 | 855 | 13,402 | 12,723 | 679 | (176 | ) | |||||||||||||||||||
| Total net sales | $ | 141,569 | $ | 131,862 | $ | 9,707 | $ | 141,569 | $ | 132,038 | $ | 9,531 | $ | (176 | ) | ||||||||||||
| As Reported Six Months Ended June 30, | Constant Currency(1) Six Months Ended June 30, | 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. | $ | 258,874 | $ | 247,825 | $ | 11,049 | $ | 258,874 | $ | 247,838 | $ | 11,036 | $ | (13 | ) | —% | |||||||||||
| International | 26,203 | 24,122 | 2,081 | 26,203 | 25,209 | 994 | (1,087 | ) | |||||||||||||||||||
| Total net sales | $ | 285,077 | $ | 271,947 | $ | 13,130 | $ | 285,077 | $ | 273,047 | $ | 12,030 | $ | (1,100 | ) | ||||||||||||
(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 ending December 31, 2026 (in millions): | ||
| Net income guidance | ||
| Income tax expense | 8.5 to 9.5 | |
| Interest expense(1) | 16.5 | |
| Depreciation and amortization | 22 | |
| Stock compensation expense | 4 | |
| Acquisition-related diligence expenses | 2 | |
| Restructuring expenses | 7.5 | |
| 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 income guidance | ||
| Acquisition-related intangible amortization expense | 17 | |
| Acquisition-related diligence expenses | 2 | |
| Restructuring expenses | 7.5 | |
| Warehouse relocation and redesign expenses | 7 | |
| Mark to market gain on interest rate derivatives | (0.5) | |
| Income tax effect on adjustment | (10) | |
| Adjusted net income guidance | ||
| Adjusted diluted income per share guidance | ||
| Adjusted income from operations guidance for the full year ending December 31, 2026 (in millions): | |
| Income from operations guidance | |
| Acquisition-related intangible amortization expense | 17 |
| Acquisition-related diligence expenses | 2 |
| Restructuring expenses | 7.5 |
| 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 and interest income related to tariff refunds. | |
| LIFETIME BRANDS, INC. Supplemental Information Reconciliation of GAAP to Non-GAAP Previous Guidance | |
| Adjusted EBITDA guidance for the full year ending December 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 | |
| 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 ending December 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. | |
