Amendment to Current Report (Form 8-K/A)

Lifetime Brands, Inc. Reports Third Quarter 2026 Financial Results

Declares Regular Quarterly Dividend

Board Authorizes $20M Share Repurchase Program

GARDEN CITY, NY, November 6, 2026 - 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 1st."

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.

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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.

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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.

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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.

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