Lakeland Industries falls as Q1 results disappoint

Lakeland Industries

10/06/2022 17:52

** Shares of apparel company Lakeland Industries  LAKE.O 
down as much as 7.62% at $16.73
    ** Co reports quarterly adjusted earnings of 14 cents​​ per
share, missing Refinitiv IBES estimates of 24 cents  urn:newsml:reuters.com:*:nFWN2XW0T6
    ** Q1 revenue falls 20%, missing market expectations, hurt
by lower industrial demand and supply chain issues
    ** Co says sales were affected by continued weakness in the
energy sector, specifically the oil and gas segment, supply
chain disruptions and shipping delays with ocean freight
carriers
    ** Stock was down ~22% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))