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LSI Industries Inc. reports news on its commercial lighting and display solutions business, including financial results, cash dividends, acquisition activity and customer project demand across retail and other multi-site markets. The company manufactures non-residential indoor and outdoor lighting, lighting controls, print and digital graphics, signage, menu board systems, refrigerated, heated and custom displays.
Recurring updates also cover LSI's Lighting and Display Solutions segments, project management services for large-scale product rollouts, and the combined platform capabilities added through the completed Royston Group acquisition. News commonly links operating performance to branding, remodel and new-build programs for petroleum and convenience stores, quick-service restaurants, grocery, automotive and other commercial customers.
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LSI Industries Inc. (NASDAQ: LYTS) reported a strong fiscal third quarter for 2023, with net sales rising 7% year-over-year to $117.5 million. The company achieved net income of $4.7 million, a 29% increase from the previous year, leading to a diluted EPS of $0.16. Adjusted EBITDA reached $11.2 million, marking a significant 32% increase. Strong demand in the Lighting segment drove this growth, with sales up 17%. LSI reduced its net debt to $48.2 million, achieving a net leverage ratio of 1.0x TTM Adjusted EBITDA. The company declared a cash dividend of $0.05 per share payable on May 16, 2023. Management remains focused on long-term growth with a five-year strategic plan aiming for over 60% organic sales growth and substantial EBITDA increases.
LSI Industries Inc. (NASDAQ: LYTS) has been chosen as the lighting partner for a new electric vehicle (EV) battery production facility in Kentucky. The partnership aligns with the rising demand for EVs, marking a significant milestone for LSI Industries in the green technology sector. The company will supply nearly 15,000 energy-efficient LED lighting fixtures, slated to begin shipping in late August. This initiative underscores LSI's commitment to sustainability, reducing the facility's carbon footprint while showcasing its manufacturing capabilities. As an established player in advanced lighting solutions, LSI is positioned to support new technology investments and large-scale projects in the EV sector.
LSI Industries Inc. (NASDAQ: LYTS), a manufacturer of commercial lighting and display solutions, will release its third quarter fiscal 2023 results on April 27, 2023, before market opening. The Company will host a conference call at 11:00 a.m. ET to discuss these results, recent events, and engage in a question-and-answer session. Interested parties can access the call via teleconference or a live webcast at LSI’s Investor Relations website. The call replay will be available until May 11, 2023.
LSI operates 11 manufacturing plants across the U.S. and Canada, employing around 1,400 people. They specialize in high-performance, American-made lighting solutions and advanced display systems, catering to non-residential markets.
LSI Industries Inc. (NASDAQ: LYTS) has unveiled its "Fast Forward" strategy, aiming for $800 million in net sales and $100 million in adjusted EBITDA by FY28. This initiative is part of their long-term growth plan, focusing on targeted expansion in high-value vertical markets and operational efficiency. For the fiscal year 2023, LSI projects net sales between $490-$500 million and adjusted EBITDA of $47-$49 million. The company expects over 60% growth in net sales and over 100% growth in adjusted EBITDA over five years, with a goal of achieving a margin of 12.5% of net sales.
LSI Industries Inc. (NASDAQ: LYTS) will be represented by CEO James Clark and CFO James Galeese at the Sidoti Small-Cap Virtual Conference on March 22, 2023. This event will allow registered investors to engage in one-on-one meetings with the executives. LSI, based in Greater Cincinnati, specializes in manufacturing high-performance commercial lighting and display solutions across the U.S. and Canada, employing around 1,400 staff across 11 plants. The company's strong focus on outdoor lighting positions it well for future growth opportunities. More information is available at www.lsicorp.com.
LSI Industries Inc. (LYTS), a U.S. manufacturer of commercial lighting and display solutions, announced participation in the 35th Annual Roth Conference from March 12-14, 2023, at The Ritz Carlton in Dana Point, California. CEO James Clark and CFO James Galeese will be present, engaging in one-on-one meetings with registered investors. LSI, headquartered in Greater Cincinnati, employs approximately 1,400 people across 11 manufacturing plants in the U.S. and Canada. The company specializes in high-performance, American-made lighting solutions and advanced display equipment for various markets. More information can be found on their website.
LSI Industries reported a strong fiscal second quarter for 2023, with net sales increasing 16% year-over-year to $128.8 million. Net income rose by 107% to $6.4 million, and diluted EPS was $0.22. Adjusted EBITDA grew 54% to $13.0 million, achieving a margin of 10.1%. The company generated free cash flow of $8.9 million for the quarter, with net debt decreasing to $60.1 million, a 1.3x ratio to trailing twelve-month adjusted EBITDA. Notable projects include a $12+ million rebranding in Puerto Rico and a $12 million display case order from a major grocery chain.