Lifetime Brands, Inc. Reports Fourth Quarter 2025 Financial Results

Declares Regular Quarterly Dividend

GARDEN CITY, N.Y., March 12, 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 and full year ended December 31, 2025.

Rob Kay, Lifetime’s Chief Executive Officer, commented, “Our fourth quarter results reflect the culmination of several strategic decisions made earlier in the year, decisions that were not without short-term cost, but right for the business. We moved first on pricing to offset tariff headwinds, partnered closely with our customers to navigate a period of real disruption, and we took decisive action to reduce our cost structure. The results validated that approach: with operating profit for the quarter exceeding 2024 despite a more challenging top-line environment, strong full year adjusted EBITDA of $50.8 million, and a leaner organization that is better positioned than a year ago. The Dolly brand continues to exhibit strong sales growth with a 150% increase for the year, a positive reflection of where our strategy is gaining traction. Recovering sustainable growth remains the priority in 2026, and we enter the year with momentum, a proven playbook, and the confidence in our ability to deliver long-term value for our shareholders.”

Fourth Quarter Financial Results:

Consolidated net sales for the three months ended December 31, 2025, were $204.1 million, representing a decrease of $11.1 million or 5.2%, as compared to $215.2 million for the corresponding period in 2024. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2025 average rates to 2024 local currency amounts, consolidated net sales decreased $12.0 million or 5.6% in the fourth quarter of 2025, as compared to consolidated net sales in the corresponding period in 2024. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for the three months ended December 31, 2025 was $78.8 million, or 38.6%, as compared to $81.2 million, or 37.7%, for the corresponding period in 2024.

Selling, general and administrative expenses for the three months ended December 31, 2025 were $38.0 million, a decrease of $5.2 million, or 12.0%, as compared to $43.2 million for the corresponding period in 2024.

Income from operations was $20.0 million, as compared to $15.5 million for the corresponding period in 2024.

Adjusted income from operations (1) was $26.4 million as compared to $20.2 million for the corresponding period in 2024.

Net income was $18.2 million, or $0.83 per diluted share, for the quarter ended December 31, 2025, as compared to net income of $8.9 million, or $0.41 per diluted share, for the corresponding period in 2024.

Adjusted net income (1) was $23.0 million, or $1.05 per diluted share, for the quarter ended December 31, 2025, as compared to adjusted net income (1) of $12.0 million, or $0.55 per diluted share, for the corresponding period in 2024.

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

Full Year Financial Results:

Consolidated net sales for the year ended December 31, 2025, were $647.9 million, a decrease of $35.1 million, or 5.1%, as compared to consolidated net sales of $683.0 million for the corresponding period in 2024. In constant currency, a non-GAAP financial measure, which excludes the impact of foreign exchange fluctuations and was determined by applying 2025 average rates to 2024 local currency amounts, consolidated net sales decreased $36.9 million, or 5.4%, as compared to consolidated net sales in the corresponding period in 2024. A table reconciling this non-GAAP financial measure to consolidated net sales, as reported, is included below.

Gross margin for 2025 was $240.7 million, or 37.1%, compared to $260.7 million, or 38.2%, for the corresponding period in 2024.

Selling, general and administrative expenses for 2025 were $142.4 million, a decrease of $17.4 million, or 10.9%, as compared to $159.8 million for the corresponding period in 2024.

Loss from operations was $(9.4) million in 2025, as compared to income from operations of $27.1 million for the corresponding period in 2024.

Adjusted income from operations (1) was $37.9 million, as compared to $44.7 million for the corresponding period in 2024.

Net loss was $(26.9) million, or $(1.24) per diluted share, for the year ended December 31, 2025, as compared to net loss of $(15.2) million, or $(0.71) per diluted share, in the corresponding period in 2024.

Adjusted net income (1) was $17.6 million, or $0.81 per diluted share, as compared to $12.6 million, or $0.58 per diluted share, for the corresponding period in 2024.

Adjusted EBITDA (1) was $50.8 million for the year ended December 31, 2025. A table reconciling this non-GAAP financial measure to net loss, as reported, is included below.

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

Dividend

On March 9, 2026, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on May 15, 2026 to shareholders of record on May 1, 2026.

Full Year 2026 Guidance

The Company intends to provide detailed Full Year 2026 guidance in conjunction with its First Quarter 2026 results in mid-May, in-line with its historical cadence.

Conference Call

The Company has scheduled a conference call for Thursday, March 12, 2026 at 11:00 a.m. (Eastern Time). The dial-in number for the conference call is 1 (844) 826-3035 (U.S.) or +1 (412) 317-5195 (International).

A live webcast of the conference call will be accessible through:

https://viavid.webcasts.com/starthere.jsp?ei=1751000&tp_key=acd8d43e62

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 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, adjusted diluted income per common share, adjusted EBITDA. 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 and sanctions, war, conflict, including the ongoing conflicts between Russia and the Ukraine, conflicts in the Middle East, and increasing tensions between China and Taiwan; legislative and regulatory risks, including those relating to the recent enactment of the One Big Beautiful Bill Act; 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, 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