Lifetime Brands, Inc. Reports Third Quarter 2026 Financial Results

The sales outlook floor rose, while full-year net income and diluted earnings guidance fell.

Rhea-AI Summary

Lifetime Brands (LCUT) reported third-quarter 2026 sales of $177.7 million, up 3.4% from the same quarter a year earlier. Gross margin rose to 36.5% from 35.1%, but net loss widened to $4.2 million, or $0.19 per diluted share, from $1.2 million, or $0.05. Adjusted net income rose to $8.4 million from $2.5 million.

Nine-month sales increased 4.3% to $462.8 million. Net income reached $10.6 million versus a $45.1 million loss; current results included a $40.1 million pre-tax tariff refund benefit. For 2026, the company raised its sales floor to $660 million but lowered net income guidance to $19 million–$20.5 million. The board increased available repurchase authorization to $20 million and declared a regular $0.0425 quarterly dividend, payable February 12, 2027. The updated release also clarified trailing-year adjusted EBITDA of $92.4 million before debt-agreement limitations and $84.5 million afterward.

15 points · 2 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointNine-month gross margin reached 45.9% versus 36.5%, including a $40.1 million tariff refund benefit. 22% of market cap
• Major point. Forward-looking: it has not happened yet and may not happen.Full-year sales guidance increased to $660 million–$700 million from $650 million–$700 million.
• Moderate pointThird-quarter sales rose 3.4% to $177.7 million from $171.9 million a year earlier.
• Moderate pointThird-quarter gross margin reached 36.5%, versus 35.1%; gross profit rose to $64.9 million from $60.4 million.
• Moderate pointThird-quarter adjusted net income rose to $8.4 million, or $0.37 diluted, from $2.5 million, or $0.11.
• Moderate pointThird-quarter adjusted operating income rose to $13.8 million from $11.5 million.
• Moderate pointNine-month sales rose 4.3% to $462.8 million; constant-currency growth was 4.0%.
• Moderate pointNine-month adjusted operating income rose to $59.8 million from $11.5 million.
• Moderate pointNine-month adjusted net income reached $35.3 million, or $1.57 diluted, versus a $5.4 million loss, or $0.25.

6 minor points

• Minor pointNine-month operating income reached $29.4 million versus a $29.4 million loss, which included $33.2 million goodwill impairment.
• Minor pointNine-month net income reached $10.6 million, or $0.47 diluted, versus a $45.1 million loss, or $2.08.
• Minor pointNet interest expense fell to $2.111 million from $5.013 million quarterly; nine-month expense fell to $10.745 million from $14.982 million.
• Minor pointAvailable repurchase authorization increased to $20 million from approximately $11.1 million, effective November 3, 2026.
• Minor pointInternational sales grew 18.8%; the company said the segment approached breakeven.
• Minor point. Forward-looking: it has not happened yet and may not happen.Dollar General partnership sales are on track to approach $20 million this year, the company said.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Full-year net income guidance fell to $19 million–$20.5 million from $23 million–$24.5 million.
• Moderate pointThird-quarter net loss widened to $4.2 million, or $0.19 diluted, from $1.2 million, or $0.05.
• Moderate pointThird-quarter distribution expenses rose to $26.107 million from $17.939 million; nine-month expenses rose to $63.785 million from $53.323 million.
• Moderate pointThird-quarter selling, general and administrative expenses rose 7.6% to $38.2 million; nine-month expenses rose 9.6% to $114.5 million.
• Moderate pointThird-quarter inventory rationalization charge was $3.3 million, reducing gross margin. 1.8% of market cap
• Moderate pointWarehouse relocation and redesign expenses reached $5.3 million quarterly and $7.2 million over nine months. 4% of market cap
• Moderate pointRestructuring expenses reached $0.6 million quarterly and $4.7 million over nine months, versus $0.3 million in each prior-year period. 2.6% of market cap
• Moderate pointDebt-agreement limitations reduced trailing-year adjusted EBITDA to $84.5 million from $92.4 million before limitations.

6 minor points

• Minor pointThird-quarter operating loss was $20,000, versus operating income of $6.693 million a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Full-year diluted earnings guidance fell to $0.84–$0.91 from $1.03–$1.10 per share.
• Minor point. Forward-looking: it has not happened yet and may not happen.Full-year operating income guidance fell to $42.5 million–$45 million from $48 million–$50.5 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Full-year adjusted diluted earnings guidance fell to $2.04–$2.11 from $2.06–$2.13 per share.
• Minor pointAcquisition-related diligence expenses reached $0.3 million quarterly and $2.3 million over nine months.
• Minor pointDebt extinguishment generated a $2.456 million loss in the third quarter.

News Explained

Reported liquidity was largely financing availability, and the repurchase authorization does not itself establish a completed share buyback.

The updated release reports Lifetime Brands’ liquidity at September 30, 2026 as $123.3 million, comprising $5.9 million in cash, $96.4 million of ABL availability and $21.0 million of available funding under its receivables purchase agreement.

That means most of the reported liquidity was available financing, rather than cash on hand.

The company says repurchases may use several methods, with timing and amount dependent on multiple factors, and the board may amend or terminate the program; the authorization therefore does not itself establish a committed purchase or a change in common ownership.

Key Figures

Q3 net sales: $177.7 million, up 3.4% Q3 net loss: $4.2 million, or $0.19 per diluted share Trailing-twelve-month adjusted EBITDA: $92.4 million before limitations +5 more

Q3 net sales

$177.7 million, up 3.4%

Quarter ended September 30, 2026, compared with the corresponding 2025 period

Q3 net loss

$4.2 million, or $0.19 per diluted share

Quarter ended September 30, 2026

Trailing-twelve-month adjusted EBITDA

$92.4 million before limitations

Twelve months ended September 30, 2026; clarification in the updated release

2026 net sales guidance

$660–$700 million

Updated from $650–$700 million

2026 income from operations guidance

$42.5–$45 million

Updated from $48–$50.5 million

2026 net income guidance

$19–$20.5 million

Updated from $23–$24.5 million

Share repurchase authorization

$20 million

Amount available under the program as of November 3, 2026, exclusive of fees and commissions

Quarterly dividend

$0.0425 per share

Declared November 3, 2026; payable February 12, 2027

Previous Earnings Reports

2 past events · Latest: Aug 06

Same Type 2 events

1. Aug 06

   Q2 earnings

   24h Move

   +3.3%

   Reported trailing-twelve-month adjusted EBITDA of $92.0 million in its Q2 results.

2. May 07

   Q1 earnings

   24h Move

   +29.1%

   Reported trailing-twelve-month adjusted EBITDA of $52.7 million and issued 2026 guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted ebitda, non-gaap financial measure, rule 10b5-1 trading plans, accelerated share repurchase

4 terms

adjusted ebitda financial

"Adjusted EBITDA(1) was $92.4 million for the trailing twelve months ended September 30, 2026"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial measure financial

"In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations"

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

rule 10b5-1 trading plans regulatory

"which may or may not be pursuant to Rule 10b5-1 trading plans"

Rule 10b5-1 trading plans are written, pre-arranged instructions that allow company insiders (such as executives or directors) to automatically buy or sell their company's stock at specified times or under set conditions, like a standing instruction or automated thermostat for trades. They matter to investors because these plans provide a legal defense against insider‑trading accusations and create predictable insider trading patterns that can help signal whether sales are routine portfolio management or potentially meaningful to the company’s outlook.

accelerated share repurchase financial

"privately negotiated transactions, block trades accelerated share repurchase, tender offers"

An accelerated share repurchase is a deal where a company hires a bank to buy back a large block of its own stock immediately on the open market, with the bank later settling the exact number of shares over time. For investors it matters because the immediate reduction in shares outstanding can raise per‑share earnings and often supports the stock price, but it also uses company cash or borrowing and can change liquidity and future growth funding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Declares Regular Quarterly Dividend

Board Authorizes $20M Share Repurchase Program

GARDEN CITY, N.Y., Nov. 06, 2026 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT). On November 5, 2026, Lifetime Brands, Inc. (the “Company”) issued a press release disclosing, among other matters, its financial results for the quarter ended September 30, 2026. Subsequent to the press release, the Company identified an inadvertent omission of Adjusted EBITDA, before limitations, for the trailing twelve-month period ended September 30, 2026, which was $92.4 million. This updated release clarifies the Adjusted EBITDA measures for the trailing twelve months ended September 30, 2026 and there are no other changes in the Company’s reported financial results. The updated release reads as follows.

GARDEN CITY, NY, November 5, 2026 – 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 September 30, 2026.

Rob Kay, Lifetime's Chief Executive Officer, commented, “We delivered net sales growth of 3.4% and expanded gross margin by 140 basis points in the third quarter as momentum continues across key parts of the business. International sales grew 18.8% and the segment approached breakeven as Project Concord takes hold. Home décor continues to grow, our Farberware relaunch is performing well, and our Dollar General partnership, launched in 2024, is on track to approach $20 million in sales this year. This year’s refinancing lowered our borrowing costs and strengthened our financial flexibility, and our new $20 million share repurchase authorization provides additional flexibility to return capital to shareholders. We look forward to sharing our capital allocation strategy and the tailwinds we see for 2027 at our Investor Day on December 1^st.”

Third Quarter Financial Results:

Consolidated net sales for the three months ended September 30, 2026 were $177.7 million, representing an increase of $5.8 million, or 3.4%, as compared to net sales of $171.9 million for the corresponding period in 2025. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2026 average rates to 2025 local currency amounts, consolidated net sales increased by $5.8 million, or 3.4%, as compared to consolidated net sales in the corresponding period in 2025. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for the three months ended September 30, 2026 was $64.9 million, or 36.5%, as compared to $60.4 million, or 35.1%, for the corresponding period in 2025. Gross margin for the current period included a charge for inventory reserves associated with a stock keeping unit rationalization ("SKU rationalization") of $3.3 million.

Selling, general and administrative expenses for the three months ended September 30, 2026 were $38.2 million, an increase of $2.7 million, or 7.6%, as compared to $35.5 million for the corresponding period in 2025.

Loss from operations was zero, as compared to income from operations of $6.7 million for the corresponding period in 2025. Loss from operations for the current period included a SKU rationalization charge of $3.3 million.

Adjusted income from operations⁽¹⁾ was $13.8 million, as compared to adjusted income from operations of $11.5 million for the corresponding period in 2025. The 2026 period included adjustments for acquisition-related intangible amortization expense of $4.3 million, acquisition-related diligence expenses of $0.3 million, restructuring expenses of $0.6 million, warehouse relocation and redesign expenses of $5.3 million, and a SKU rationalization charge of $3.3 million. The 2025 period included adjustments for acquisition-related intangible amortization expense of $4.4 million, restructuring expenses of $0.3 million and warehouse relocation and redesign expenses of $0.1 million.

Net loss was $(4.2) million, or $(0.19) per diluted share, as compared to net loss of $(1.2) million, or $(0.05) per diluted share, in the corresponding period in 2025. Net loss for the current period included a SKU rationalization charge of $3.3 million.

Adjusted net income⁽¹⁾ was $8.4 million, or $0.37 per diluted share, as compared to adjusted net income of $2.5 million, or $0.11 per diluted share, in the corresponding period in 2025.

^{(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.}

Nine Months Financial Results:

Consolidated net sales for the nine months ended September 30, 2026 were $462.8 million, an increase of $18.9 million, or 4.3%, as compared to net sales of $443.9 million for the corresponding period in 2025. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2026 average rates to 2025 local currency amounts, consolidated net sales increased by $17.8 million, or 4.0%, as compared to consolidated net sales in the corresponding period in 2025. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for the nine months ended September 30, 2026 was $212.3 million, or 45.9%, as compared to $161.9 million, or 36.5%, for the corresponding period in 2025. Gross margin for the current period included a tariff refund benefit of $40.1 million.

Selling, general and administrative expenses for the nine months ended September 30, 2026 were $114.5 million, an increase of $10.0 million, or 9.6%, as compared to $104.5 million for the corresponding period in 2025. Selling, general and administrative expenses for the prior period included a net legal settlement gain of $6.4 million.

Income from operations was $29.4 million, as compared to loss from operations of $(29.4) million for the corresponding period in 2025. Income from operations for the current period included a tariff refund benefit of $40.1 million. Loss from operations for the prior period included a non-cash goodwill impairment charge of $33.2 million related to the U.S. segment.

Adjusted income from operations⁽¹⁾ was $59.8 million, as compared to $11.5 million for the corresponding period in 2025. The 2026 period included adjustments for acquisition-related intangible amortization expense of $12.9 million, acquisition-related diligence expenses of $2.3 million, restructuring expenses of $4.7 million, warehouse relocation and redesign expenses of $7.2 million, and SKU rationalization of $3.3 million. The 2025 period included adjustments for acquisition-related intangible amortization expense of $13.1 million, non-recurring gain related to a litigation settlement of $6.4 million, acquisition-related diligence expenses of $0.2 million, restructuring expenses of $0.3 million, warehouse relocation and redesign expenses of $0.2 million, severance expenses of $0.3 million and goodwill impairment charge of $33.2 million.

Net income was $10.6 million, or $0.47 per diluted share, as compared to net loss of $(45.1) million, or $(2.08) per diluted share, in the corresponding period in 2025. Net income for the current period included a pre-tax tariff refund benefit of $40.1 million. Net loss for the prior period included a non-cash goodwill impairment charge of $33.2 million.

Adjusted net income⁽¹⁾ was $35.3 million, or $1.57 per diluted share, as compared to adjusted net loss⁽¹⁾ of $(5.4) million, or $(0.25) per diluted share, in the corresponding period in 2025.

Trailing Twelve Months Financial Results:

Net income was $28.8 million for the trailing twelve months ended September 30, 2026.

Adjusted EBITDA⁽¹⁾ was $92.4 million for the trailing twelve months ended September 30, 2026, before limitations.   After giving effect to the non-recurring charge limitation permitted under the Company’s Debt Agreements, Adjusted EBITDA for the trailing twelve months ended September 30, 2026 was $84.5 million.   The limitations in the trailing twelve month period primarily relate to one-time expenses incurred for the move of our East Coast distribution operations and stock keeping unit rationalization.   These Adjusted EBITDA amounts, both before and after giving effect to the non-recurring charge limitation permitted under the debt agreements, are reflected in the Company’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 5, 2026

Liquidity as of September 30, 2026 was $123.3 million, consisting of $5.9 million of cash and cash equivalents, $96.4 million of availability under the ABL Agreement, and $21.0 million of available funding under the Receivables Purchase Agreement.

^{(1) A table reconciling this non-GAAP financial measure to its most comparable GAAP financial measure, as reported, is included below.}

Subsequent Event

On November 3, 2026 (the "Effective Date"), the Company's Board of Directors (the "Board") authorized an increase to the Company’s previously-authorized share repurchase program (the “Repurchase Program”) such that the amount of the Company’s common stock, $0.01 par value per share (the “Common Stock”), available for repurchase as of the Effective Date is $20 million (exclusive of fees and commissions).

Under the Repurchase Program, Lifetime Brands may repurchase its Common Stock through a variety of methods, including open market purchases, which may or may not be pursuant to Rule 10b5-1 trading plans, privately negotiated transactions, block trades accelerated share repurchase, tender offers, or any combination of such methods. The timing and amount of shares of Common Stock that may be repurchased under the Repurchase Plan will depend on a variety of factors including, but not limited to, the share price, market conditions, corporate considerations, business opportunities, debt agreements, and regulatory requirements. The Repurchase Program does not have an expiration date and may be amended or terminated by the Board at any time without prior notice. Prior to the Effective Date, there was approximately $11.1 million available for repurchase under the Repurchase Program.

Dividend

On November 3, 2026, the Board declared a quarterly dividend of $0.0425 per share of Common Stock payable on February 12, 2027 to stockholders of record on January 29, 2027.

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	$650 to $700		$660 to $700
Income from operations	$48 to $50.5		$42.5 to $45
Adjusted income from operations	$81.5 to $84		$81.5 to $84
Net income	$23 to $24.5		$19 to $20.5
Adjusted net income	$46 to $47.5		$46 to $47.5
Diluted income per common share	$1.03 to $1.10 per share		$0.84 to $0.91 per share
Adjusted diluted income per common share	$2.06 to $2.13 per share		$2.04 to $2.11 per share
Weighted-average diluted shares	22.3		22.5
Adjusted EBITDA, before limitation	$90.5 to $93		$90.5 to $93

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, November 5, 2026 at 11:00 a.m. (Eastern Time). The dial-in number for the conference call is 1-833-862-0366 (USA) or 1-412-634-6210 (International).

In addition, a live webcast of the conference call will be accessible through:
https://viavid.webcasts.com/starthere.jsp?ei=1779613&tp_key=66d252e00e

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 10212812. 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 capital allocation strategy and plans, including potential share repurchases, 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 September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net sales	$	177,676			$	171,912			$	462,753			$	443,859
Cost of sales		112,757				111,488				250,426				281,959
Gross margin		64,919				60,424				212,327				161,900
Distribution expenses		26,107				17,939				63,785				53,323
Selling, general and administrative expenses		38,192				35,488				114,517				104,451
Goodwill impairment		—				—				—				33,237
Restructuring expenses		640				304				4,650				304
(Loss) income from operations		(20	)			6,693				29,375				(29,415	)
Interest expense, net		(2,111	)			(5,013	)			(10,745	)			(14,982	)
Mark to market (loss) gain on interest rate derivatives		(39	)			(8	)			465				(755	)
Loss on extinguishment of debt		(2,456	)			—				(2,456	)			—
(Loss) income before income taxes		(4,626	)			1,672				16,639				(45,152	)
Income tax benefit (provision)		431				(2,861	)			(5,997	)			63
NET (LOSS) INCOME	$	(4,195	)		$	(1,189	)		$	10,642			$	(45,089	)
BASIC (LOSS) INCOME PER COMMON SHARE	$	(0.19	)		$	(0.05	)		$	0.48			$	(2.08	)
DILUTED (LOSS) INCOME PER COMMON SHARE	$	(0.19	)		$	(0.05	)		$	0.47			$	(2.08	)

LIFETIME BRANDS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands—except share data)
	September 30, 2026				December 31, 2025
	(unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	5,934			$	4,267
Accounts receivable, less allowances of $10,730 at September 30, 2026 and $11,970 at December 31, 2025		154,381				161,861
Inventory		214,588				194,046
Prepaid expenses and other current assets		13,480				12,147
Income taxes receivable		—				1,572
TOTAL CURRENT ASSETS		388,383				373,893
PROPERTY AND EQUIPMENT, net		25,999				15,441
OPERATING LEASE RIGHT-OF-USE ASSETS		92,024				48,506
INTANGIBLE ASSETS, net		120,021				132,922
OTHER ASSETS		3,424				1,793
TOTAL ASSETS	$	629,851			$	572,555
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Current maturity of term loan	$	—			$	5,022
Accounts payable		63,716				45,844
Accrued expenses		78,378				64,294
Income taxes payable		3,173				—
Current portion of operating lease liabilities		13,414				16,143
TOTAL CURRENT LIABILITIES		158,681				131,303
OTHER LONG-TERM LIABILITIES		13,409				14,261
INCOME TAXES PAYABLE, LONG-TERM		686				686
OPERATING LEASE LIABILITIES		94,088				42,442
DEFERRED INCOME TAXES		1,560				1,554
REVOLVING CREDIT FACILITY		89,858				54,105
TERM LOAN		58,351				125,927
STOCKHOLDERS’ EQUITY
Preferred stock, $1.00 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding		—				—
Common stock, $0.01 par value, shares authorized: 50,000,000 at September 30, 2026 and December 31, 2025; shares issued and outstanding: 22,984,460 at September 30, 2026 and 22,654,207 at December 31, 2025		230				227
Paid-in capital		286,472				283,449
Accumulated deficit		(55,736	)			(63,354	)
Accumulated other comprehensive loss		(17,748	)			(18,045	)
TOTAL STOCKHOLDERS’ EQUITY		213,218				202,277
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	629,851			$	572,555

LIFETIME BRANDS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited)
	Nine Months Ended September 30,
		2026				2025
OPERATING ACTIVITIES
Net income (loss)	$	10,642			$	(45,089	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		16,235				16,533
Goodwill impairment		—				33,237
Non-cash restructuring charges		296				—
Amortization of financing costs		1,828				2,077
Gain on disposition of fixed assets		—				(94	)
Mark to market (gain) loss on interest rate derivatives		(465	)			755
Operating leases, net		(658	)			(1,734	)
Provision for doubtful accounts		71				1,129
Stock compensation expense		2,893				3,100
Loss on extinguishment of debt		2,456				—
Changes in operating assets and liabilities
Accounts receivable		7,261				29,010
Inventory		(20,911	)			(15,912	)
Prepaid expenses, other current assets and other assets		753				(224	)
Accounts payable, accrued expenses and other liabilities		31,645				(15,843	)
Income taxes receivable		1,572				(2,215	)
Income taxes payable		3,179				(860	)
NET CASH PROVIDED BY OPERATING ACTIVITIES		56,797				3,870
INVESTING ACTIVITIES
Purchases of property and equipment		(8,670	)			(3,221	)
Net proceeds from sale of property		—				94
NET CASH USED IN INVESTING ACTIVITIES		(8,670	)			(3,127	)
FINANCING ACTIVITIES
Proceeds from revolving credit facility		269,389				236,941
Repayments of revolving credit facility		(233,287	)			(219,726	)
Proceeds from term loan		60,000				—
Repayments of term loan		(135,000	)			(5,625	)
Payment of finance costs		(4,653	)			—
Payments for finance lease obligations		(36	)			(33	)
Payments of tax withholding for stock based compensation		(183	)			(416	)
Proceeds from the exercise of stock options		294				—
Cash dividends paid		(2,936	)			(2,858	)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES		(46,412	)			8,283
Effect of foreign exchange on cash		(48	)			170
INCREASE IN CASH AND CASH EQUIVALENTS		1,667				9,196
Cash and cash equivalents at beginning of period		4,267				2,929
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	5,934			$	12,125

LIFETIME BRANDS, INC. Supplemental Information (in thousands) Reconciliation of GAAP to Non-GAAP Operating Results

Adjusted EBITDA for the twelve months ended September 30, 2026:

	Quarter Ended																Twelve Months Ended September 30, 2026
	December 31, 2025				March 31, 2026				June 30, 2026				September 30, 2026
	(in thousands)
Net income (loss) as reported	$	18,152			$	(4,772	)		$	19,609			$	(4,195	)		$	28,794
Income tax (benefit) provision		(3,220	)			(1,676	)			8,104				(431	)			2,777
Interest expense, net		5,048				4,512				4,122				2,111				15,793
Depreciation and amortization		5,315				5,282				5,362				5,591				21,550
Mark to market (gain) loss on interest rate derivatives		(1	)			(294	)			(210	)			39				(466	)
Stock compensation expense		201				1,043				949				901				3,094
Non-cash rent adjustment		(579	)			(593	)			(166	)			101				(1,237	)
Loss on extinguishment of debt		—				—				—				2,456				2,456
Severance expense		241				—				—				—				241
Acquisition-related diligence expenses		1,799				1,104				972				182				4,057
Restructuring expenses		24				2,030				1,980				640				4,674
Warehouse relocation and redesign expenses(1)		48				159				1,749				5,341				7,297
SKU rationalization(2)		—				—				—				3,342				3,342
Adjusted EBITDA, before limitation		27,028				6,795				42,471				16,078				92,372
Permitted non-recurring charge limitation (3)																		(7,873	)
Adjusted EBITDA(4)(5)	$	27,028			$	6,795			$	42,471			$	16,078			$	84,499

⁽¹⁾ _{For the twelve months ended September 30, 2026, warehouse relocation and redesign expenses were related to the U.S. segment.}

⁽²⁾ _{For the twelve months ended September 30, 2026, SKU rationalization included $2.0 million related to the U.S. segment, and $1.3 million related to the International segment.}

⁽³⁾ _{Permitted non-recurring charges include severance expenses, restructuring expenses, warehouse relocation and redesign expenses, and SKU rationalization. These are permitted exclusions from the Company’s adjusted EBITDA, subject to limitations, pursuant to the Company’s Debt Agreements.}

⁽⁴⁾ _{Adjusted EBITDA is a non-GAAP financial measure that is defined in the Company’s debt agreements. Adjusted EBITDA is defined as net income (loss), adjusted to exclude income tax (benefit) provision, interest, net, depreciation and amortization, gain on disposition of fixed assets, mark to market (gain) loss on interest rate derivatives, stock compensation expense, non-cash rent adjustment, loss on extinguishment of debt, and other items detailed in the table above that are consistent with exclusions permitted by the Company’s debt agreements. The quarters ended December 31, 2025, March 31, 2026, and June 30, 2026 have been recast for non-cash rent expense, to reflect the new definition of Adjusted EBITDA according to the Company's debt agreements.}

⁽⁵⁾ _{Adjusted EBITDA, less specified adjustment for the trailing twelve months ended September 30, 2026 was $44.4 million. It is used in the calculation of the Fixed Charge Ratio and minimum Adjusted EBITDA financial covenants. Adjusted EBITDA is defined above. The specified adjustment is defined as the IEEPA tariff refunds pursuant to the February 20, 2026 U.S. Supreme Court ruling that has been included in Net Income for the trailing twelve month period. IEEPA tariff refunds for the trailing twelve months ended September 30, 2026 was $40.1 million.}

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 September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net (loss) income as reported	$	(4,195	)		$	(1,189	)		$	10,642			$	(45,089	)
Adjustments:
Acquisition-related intangible amortization expense		4,271				4,360				12,891				13,099
Legal settlement gain, net		—				—				—				(6,400	)
Loss on extinguishment of debt		2,456				—				2,456				—
Acquisition-related diligence expenses		182				49				2,258				172
Restructuring expenses		640				304				4,650				304
Warehouse relocation and redesign expenses(1)		5,341				76				7,249				215
Severance expense		—				—				—				270
Mark to market loss (gain) on interest rate derivatives		39				8				(465	)			755
Goodwill impairment		—				—				—				33,237
SKU rationalization(2)		3,342				—				3,342				—
Income tax effect on adjustments		(3,674	)			(1,103	)			(7,741	)			(10,278	)
Income tax provision adjustment(3)		—				—				—				8,309
Adjusted net income (loss)(4)	$	8,402			$	2,505			$	35,282			$	(5,406	)
Adjusted diluted income (loss) per common share(5)	$	0.37			$	0.11			$	1.57			$	(0.25	)

_{⁽¹⁾ For the three and nine months ended September 30, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment.}

⁽²⁾ _{For the three and nine months ended September 30, 2026, SKU rationalization included $2.0 million related to the U.S. segment, and $1.3 million related to the International segment.}

⁽³⁾ _{The income tax provision adjustment is calculated using the effective tax rate for the three and nine months ended September 30, 2025 of 0.0% applied to the goodwill impairment adjustment. The income tax provision adjustment for the three and nine months ended September 30, 2025 provides important comparative analysis because the effective tax method was unusual due to timing of certain non-deductible expenses, including goodwill impairment.}

⁽⁴⁾ _{Adjusted net income and adjusted diluted income per common share for the three and nine months ended September 30, 2026 excludes acquisition-related intangible amortization expense, loss on extinguishment of debt, acquisition-related diligence expenses, restructuring expenses, warehouse relocation and redesign expenses, mark to market loss (gain) on interest rate derivatives and SKU rationalization. The income tax effect on adjustments reflects the statutory tax rates applied on the adjustments and the income tax provision adjustment.
Adjusted net income and adjusted diluted income per common share for the three and nine months ended September 30, 2025 excludes acquisition-related intangible amortization expense, a legal settlement gain, net, acquisition related diligence expenses, restructuring 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.}

⁽⁵⁾ _{Adjusted diluted income per common share is calculated based on diluted weighted-average shares outstanding of 22,789 and 21,834 for the three months ended September 30, 2026 and 2025, respectively. Adjusted diluted income per common share is calculated based on diluted weighted-average shares outstanding of 22,481 and 21,683 for the nine month period ended September 30, 2026 and 2025, respectively. The diluted weighted-average shares outstanding for the three and nine months ended September 30, 2026 include the effect of dilutive securities of 543 and 460, respectively. The diluted weighted-average shares outstanding for the three and nine months ended September 30, 2025 included the effect of dilutive securities of 66 and zero, respectively.}

Adjusted income from operations (in thousands):
	Three Months Ended September 30,							Nine Months Ended September 30,
		2026				2025			2026			2025
(Loss) income from operations	$	(20	)		$	6,693		$	29,375		$	(29,415	)
Adjustments:
Acquisition-related intangible amortization expense		4,271				4,360			12,891			13,099
Legal settlement gain, net		—				—			—			(6,400	)
Acquisition-related diligence expenses		182				49			2,258			172
Restructuring expenses		640				304			4,650			304
Warehouse relocation and redesign expenses(1)		5,341				76			7,249			215
SKU rationalization(2)		3,342				—			3,342			—
Severance expense		—				—			—			270
Goodwill impairment		—				—			—			33,237
Total adjustments		13,776				4,789			30,390			40,897
Adjusted income from operations(3)	$	13,756			$	11,482		$	59,765		$	11,482

_{⁽¹⁾ For the three and nine months ended September 30, 2026 and 2025, warehouse relocation and redesign expenses were related to the U.S. segment.}

⁽²⁾ _{For the three and nine months ended September 30, 2026, SKU rationalization included $2.0 million related to the U.S. segment, and $1.3 million related to the International segment.}

⁽³⁾ _{Adjusted income from operations for the three and nine months ended September 30, 2026 excludes acquisition-related intangible amortization expense, acquisition-related diligence expenses, restructuring expenses, warehouse relocation and redesign expenses, and SKU rationalization. Adjusted income from operations for the three and nine months ended September 30, 2025, excludes acquisition-related intangible amortization expense, a legal settlement gain, net, acquisition-related diligence expenses, restructuring 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 September 30,									Constant Currency (1) Three Months Ended September 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.	$	161,293		$	158,121		$	3,172		$	161,293		$	158,112		$	3,181		$	9		2.0	%		2.0	%		—	%
International		16,383			13,791			2,592			16,383			13,775			2,608			16		18.9	%		18.8	%		(0.1	)%
Total net sales	$	177,676		$	171,912		$	5,764		$	177,676		$	171,887		$	5,789		$	25		3.4	%		3.4	%		—	%

	As Reported Nine Months Ended September 30,									Constant Currency (1) Nine Months Ended September 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.	$	420,167		$	405,946		$	14,221		$	420,167		$	405,954		$	14,213		$	(8	)		3.5	%		3.5	%		—	%
International		42,586			37,913			4,673			42,586			38,975			3,611			(1,062	)		9.3	%		12.3	%		3.0	%
Total net sales	$	462,753		$	443,859		$	18,894		$	462,753		$	444,929		$	17,824		$	(1,070	)		4.0	%		4.3	%		0.3	%

_{⁽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 Guidance

Adjusted EBITDA guidance for the full year ending December 31, 2026 (in millions):

Net income guidance	$19 to $20.5
Income tax expense	7.5 to 8.5
Interest expense, net(1)	13.5
Depreciation and amortization	21.5
Stock compensation expense	4
Non-cash rent adjustment	0.5
Loss on extinguishment of debt	2.5
Acquisition-related diligence expenses	2
Restructuring expenses	7
Warehouse relocation and redesign expenses	9.5
SKU rationalization	3.5
Adjusted EBITDA guidance, before limitation	$90.5 to $93

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	$19 to $20.5
Acquisition-related intangible amortization expense	17
Acquisition-related diligence expenses	2
Restructuring expenses	7
Warehouse relocation and redesign expenses	9.5
Loss on extinguishment of debt	2.5
SKU rationalization	3.5
Mark to market gain on interest rate derivatives	(0.5)
Income tax effect on adjustment	(14)
Adjusted net income guidance	$46 to $47.5
Adjusted diluted income per share guidance	$2.04 to $2.11

Adjusted income from operations guidance for the full year ending December 31, 2026 (in millions):
Income from operations guidance	$42.5 to $45
Acquisition-related intangible amortization expense	17
Acquisition-related diligence expenses	2
Restructuring expenses	7
Warehouse relocation and redesign expenses	9.5
SKU rationalization	3.5
Adjusted income from operations	$81.5 to $84

_{⁽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 income guidance	$23 to $24.5
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	$90.5 to $93

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	$23 to $24.5
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	$46 to $47.5
Adjusted diluted income per share guidance	$2.06 to $2.13

Adjusted income from operations guidance for the full year ending December 31, 2026 (in millions):
Income from operations guidance	$48 to $50.5
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	$81.5 to $84

_{⁽¹⁾ Includes estimate for interest expense and mark to market gain on interest rate derivatives.}

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Lifetime Brands' third-quarter 2026 earnings?

Lifetime Brands reported a $4.2 million net loss, or $0.19 per diluted share, for the quarter ended September 30, 2026. Sales were $177.7 million, up 3.4% year over year. Adjusted net income, a non-GAAP measure, was $8.4 million, or $0.37 per diluted share.

What is Lifetime Brands' updated full-year 2026 guidance?

Lifetime Brands expects $660 million–$700 million in sales and $19 million–$20.5 million in net income for 2026. Adjusted operating income guidance remains $81.5 million–$84 million, adjusted net income remains $46 million–$47.5 million, and adjusted EBITDA before limitation remains $90.5 million–$93 million. Expected weighted-average diluted shares increased to 22.5 million from 22.3 million.

How much liquidity did Lifetime Brands have at September 30, 2026?

Lifetime Brands had $123.3 million in liquidity at September 30, 2026. This consisted of $5.9 million in cash and cash equivalents, $96.4 million available under its asset-based lending agreement, and $21.0 million of available funding under its Receivables Purchase Agreement.

Why does Lifetime Brands report two trailing-year adjusted EBITDA figures?

Lifetime Brands reports adjusted EBITDA both before and after applying the non-recurring charge limitation permitted under its debt agreements. The limitations primarily relate to one-time expenses for moving East Coast distribution operations and reducing the number of inventory items. Trailing-year net income was $28.8 million.