Lakeland Industries Posts Q4 Earnings Below Street View: Details
Portfolio Pulse from Shivani Kumaresan
Lakeland Industries Inc (NASDAQ:LAKE) reported Q4 FY24 sales of $31.20 million, below the analyst consensus of $32.50 million, with a 7.7% Y/Y growth. Gross profit rose 3.2% Y/Y to $11.2 million, but gross margin fell to 35.9% from 37.5%. The company experienced an operating loss of $3.3 million, a downturn from last year's $0.1 million profit. Adjusted EBITDA improved to $3.4 million from $1.9 million. EPS was $(0.13), missing the $0.30 estimate. Lakeland forecasts FY25 revenue of $140 million to $150 million and adjusted EBITDA of $16.8 million to $18.5 million. Shares closed up 1.44% at $17.67.
April 11, 2024 | 12:12 pm
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Lakeland Industries reported lower-than-expected Q4 FY24 sales and a miss on EPS, with a significant operating loss. However, the company provided a positive revenue outlook for FY25.
The mixed financial results, with misses on sales and EPS but an optimistic revenue outlook for FY25, suggest a neutral short-term impact. The share price increase post-earnings release indicates that the market may have already adjusted to the news, balancing the negative earnings report with the positive future revenue guidance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100