LAKELAND INDUSTRIES Reports Earnings Results for FY2024 Q2
September 13, 2023
🌥️Earnings Overview
On September 6 2023, LAKELAND INDUSTRIES ($NASDAQ:LAKE) reported its earnings results for Q2 of its fiscal year 2024. Comparatively, total revenue had increased by 17.4% from the same quarter of the prior year, amounting to USD 33.1 million. Net income was also reported at USD 2.5 million, a great contrast to the net loss of -0.9 million from the same period in the prior year.
Price History
On Wednesday, the stock performance of LAKELAND INDUSTRIES was reported for the second fiscal quarter of 2024. The stock opened at a price of $14.5 and closed at $13.9, representing a 3.7% decrease from the closing price of $14.4 the previous day. This decline in the stock price reflects investor sentiment on the reported earnings results for the quarter. Despite the lower-than-expected earnings figures, the company’s management team remains confident about the future of LAKELAND INDUSTRIES.
They have promised to continue to invest in cost-cutting measures and to focus on increasing efficiency and productivity in order to improve the financial performance of the company. LAKELAND INDUSTRIES’ stock performance will be watched closely by investors and analysts in the coming months as they assess whether or not the company can meet their expectations in light of the reported earnings results for the second fiscal quarter of 2024. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lakeland Industries. More…
| Total Revenues | Net Income | Net Margin |
| 119.16 | 5.4 | 4.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lakeland Industries. More…
| Operations | Investing | Financing |
| 3.03 | -14.14 | -3.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lakeland Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 147.44 | 26.05 | 16.51 |
Key Ratios Snapshot
Some of the financial key ratios for Lakeland Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.4% | -32.3% | 6.6% |
| FCF Margin | ROE | ROA |
| 0.3% | 4.1% | 3.3% |
Analysis
At GoodWhale, we recently conducted an analysis of LAKELAND INDUSTRIES to assess the company’s financial and business wellbeing. Our Risk Rating has determined that LAKELAND INDUSTRIES is a high risk investment. We have detected two risk warnings in the company’s income sheet and balance sheet, and registered users can get access to this information. We advise investors to thoroughly research this investment opportunity before committing any funds. More…
Peers
It is a publicly traded company on the Nasdaq stock exchange and has been in business since 1982. It competes in a highly competitive market which includes major players such as Calida Holding AG, Columbia Sportswear Co, and Win Hanverky Holdings Ltd. All of these competitors have a wide variety of products and services that are aimed at providing superior quality and protection in the protective apparel sector.
– Calida Holding AG ($LTS:0QP3)
Calida Holding AG is a Swiss-based firm that specializes in the design and production of innerwear and leisurewear. As of 2022, the company has a market capitalization of 395.42M and a Return on Equity (ROE) of 9.02%. This market capitalization indicates the company’s value in the stock market, while the ROE represents the profitability of the company as it relates to its equity. Calida Holding AG has been successful in creating innovative products for its customers and has established itself as a leader in the industry.
– Columbia Sportswear Co ($NASDAQ:COLM)
Columbia Sportswear Co is a global apparel, footwear, and accessories company. The company designs, sources, markets, and distributes a wide variety of products to a variety of retailers around the world. As of 2022, the company has a market cap of 5.46B, which indicates a strong financial standing. Additionally, its Return on Equity (ROE) is 16.21%, which is indicative of the company’s strong profitability. Columbia Sportswear Co has a long history of success in the industry and continues to be a leader in the global apparel market.
– Win Hanverky Holdings Ltd ($SEHK:03322)
Hanverky Holdings Ltd is a leading manufacturer of integrated industrial automation solutions, providing high-end industrial products and services to customers throughout the world. The company has a market capitalization of 294.13M as of 2022, which ranks it as one of the largest publicly traded companies on the market. Additionally, the company’s return on equity was -2.15%, indicating that it has been underperforming in terms of generating returns for its shareholders. Hanverky Holdings Ltd is committed to delivering superior products and services that meet or exceed customer expectations, and is constantly looking for ways to improve the efficiency and effectiveness of its operations.
Summary
LAKELAND INDUSTRIES reported strong financial results for the second quarter of FY2024, with total revenue increasing by 17.4% from the same period of the prior year and net income of USD 2.5 million compared to a net loss of -0.9 million for the same quarter in the previous year. Despite this positive news, stock prices moved down on the same day. Investors should take into account these financial results when making their investing decisions, as well as keep an eye on any potential changes in company fundamentals that could affect stock prices in the future.
