Lakeland Industries secures $5.6 million contract with Hong Kong fire dept

HUNTSVILLE, Ala. - Lakeland Industries, Inc. (NASDAQ:LAKE) announced Monday that its subsidiary, Lakeland LHD, has been awarded a three-year contract worth approximately $5.6 million to provide decontamination and maintenance services for the Hong Kong Fire Services Department’s protective gear. According to InvestingPro data, the company currently trades below its Fair Value, with analysts projecting sales growth for the current year.

The contract, which runs through 2028, covers advanced decontamination services and comprehensive care for an estimated 14,500 firefighter ensembles annually. The Hong Kong Fire Services Department employs over 11,000 personnel across 83 fire stations and responds to more than 77,000 emergency calls each year.

Lakeland LHD secured the contract through a competitive selection process involving several companies in the industry. The subsidiary has been supplying firefighter ensembles to the Hong Kong department since 2011, and was acquired by Lakeland in July 2024.

"This award underscores Lakeland’s strong presence in the Asia Pacific market and reinforces the trust placed in our services by one of the region’s most respected fire services organizations," said Jim Jenkins, President and CEO of Lakeland Industries.

The LHD Care program is designed to extend the useful life of protective gear while enhancing firefighter safety by removing harmful carcinogens from the gear after fire calls.

Lakeland Industries manufactures and sells protective clothing and accessories for industrial and first responder markets globally. The company recently reported a 36% increase in net sales to $52.5 million for its fiscal second quarter 2026, with fire services products sales increasing by 113%. The company maintains strong liquidity with a current ratio of 3.66, while operating with a moderate debt level. InvestingPro analysis reveals 12 additional key insights about LAKE’s financial health and growth prospects.

This information is based on a press release statement from Lakeland Industries. For comprehensive analysis and detailed financial metrics, including Fair Value estimates and growth projections, investors can access the full LAKE Research Report on InvestingPro, part of their coverage of over 1,400 US stocks.

In other recent news, Lakeland Industries reported its financial results for the second quarter of 2025, which did not meet earnings and revenue expectations. The company posted earnings per share of $0.08, below the anticipated $0.2925, and reported revenue of $52.5 million, falling short of the forecasted $54.59 million. Despite these challenges, DA Davidson maintained a Buy rating on Lakeland Industries, although it lowered the stock price target from $23.00 to $20.00. This adjustment comes in the wake of Lakeland’s fiscal second-quarter 2026 earnings report, where EBITDA surpassed consensus expectations. However, tariff headwinds have prompted a reduced full-year outlook. These developments are significant for investors monitoring Lakeland Industries’ performance and market positioning.

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