Lakeland Fire + Safety Q1 revenue rises 1.4% with net income turnaround
LAKE•Lakeland Fire + Safety reported fiscal Q1 net sales of $47.4 million, up 1.4% year-over-year, with net income of $0.4 million compared to a $3.9 million loss a year earlier. Adjusted EBITDA excluding foreign exchange surged to $1.1 million, while gross margin edged up ten basis points sequentially to 33.6%.
1. Financial Performance
Lakeland Fire + Safety reported fiscal Q1 net sales of $47.4 million, a 1.4% increase year-over-year, and net income of $0.4 million compared to a $3.9 million loss in Q1 FY26. Adjusted EBITDA excluding foreign exchange rose to $1.1 million and adjusted gross margin improved to 33.6% from 33.5%.
2. Operational Highlights
The Fire Services segment delivered 11% sales growth driven by strong tender activity and customer engagement at industry trade events. The Independent Service Provider platform continued to build recurring revenue through inspection, cleaning, repair, rental and decontamination services, deepening customer relationships and retention.
3. Strategic Initiatives
The company completed a $14 million sale of inventory and intellectual property related to its HPFR and HiViz product lines, generating $13.2 million in cash proceeds. It plans to open a new service location in Denver, expand its Phoenix PPE facility, add CO2 decontamination capability and pursue strategic M&A and greenfield opportunities to bolster recurring revenue.
