LCUT · Lifetime Brands, Inc.

Lifetime Brands delivered first quarter 2026 results with consolidated net sales rising 2.4% to $143.5 million from $140.1 million in the prior year, driven by strong growth in Home Solutions (nearly 23%) and the kitchen tools division, alongside the Dolly Parton brand's continued momentum. Gross margin expanded 160 basis points to 37.7%, reflecting the benefits of early pricing actions now fully embedded and cost structure improvements. SG&A expenses increased 16.8% to $36.8 million, contributing to a GAAP operating loss of $2.2 million versus $1.1 million income last year, but adjusted operating income flipped to $5.4 million from a $0.9 million loss, after adjustments including $4.4 million in acquisition-related amortization, $2.0 million restructuring, and other items. Net loss widened slightly to $4.8 million or $(0.22) per share from $4.2 million or $(0.19), while adjusted net income turned positive at $0.8 million or $0.04 per share. CEO Rob Kay highlighted the new Hagerstown distribution center coming online on time and favorable to plan, validating strategic investments amid peer pullbacks. Liquidity stood at $110.2 million as of quarter-end, comprising $13.9 million cash, $80.0 million ABL availability (limited by Term Loan covenant), and $16.3 million under the Receivables Purchase Agreement. Full-year guidance signals confidence with net sales projected at $650-700 million, adjusted operating income $44.5-47 million, and adjusted EBITDA $53.5-56 million before limitations, positioning the company for sustained outperformance.