LSI Industries Inc - LYTS STOCK NEWS

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.

LSI Industries (NASDAQ: LYTS) announced it will release its second quarter fiscal 2023 results prior to market open on January 26, 2023. The company will hold a conference call at 11:00 a.m. EST on the same day to discuss the financial outcomes and recent developments. A replay of the call will be available until February 9, 2023. Headquartered in Greater Cincinnati, LSI specializes in commercial lighting and display solutions, employing around 1,400 people across 11 manufacturing facilities in the U.S. and Canada.

LSI Industries Inc. (LYTS), a leading manufacturer of lighting solutions, has successfully completed a turnkey solar installation at a Speedy Stop convenience store in Austin, Texas. The solar system generates 170 MWh of electricity annually, allowing for a payback period of less than four years. This installation highlights LSI's capability in delivering innovative renewable energy solutions, positioning the company well for future growth in the solar market, especially within the large network of U.S. refueling sites.

LSI Industries Inc. (NASDAQ: LYTS) reported strong fiscal Q1 2023 results, with net sales increasing 19% year-over-year to $127.1 million. Net income doubled to $6.3 million, achieving a diluted EPS of $0.22. Adjusted EBITDA rose 76% to $13.3 million, with a margin of 10.5%. Free cash flow reached $10.1 million, contributing to a 32% decrease in net leverage to 1.7x. The company experienced robust demand across key markets, enhancing profitability and operational efficiency.

LSI Industries Inc. (NASDAQ: LYTS) will announce its fiscal Q1 2023 results before market open on November 2, 2022. A conference call to discuss the financial results and recent developments will take place at 11:00 a.m. ET on the same day. Investors can access the call via dial-in or webcast through LSI's Investor Relations website. A replay will be available from November 2 to November 16, 2022. LSI specializes in non-residential lighting and display solutions, employing approximately 1,400 people across multiple U.S. and Canadian facilities.

LSI Industries (NASDAQ: LYTS) has launched REDiMount, a groundbreaking lighting solution for refueling station canopies. This innovative system reduces installation time by over 50%, requiring only a single canopy penetration, thereby enhancing weatherproofing. The patent-pending design allows for easy maintenance with no tools or rewiring required. CEO James A. Clark emphasized LSI's commitment to understanding customer needs, which drives innovation. With nearly 50 years of expertise in canopy lighting, LSI continues to lead the Refueling & C-Store market.

LSI Industries Inc. (NASDAQ: LYTS) appointed Ernest W. Marshall to its Board of Directors effective August 17, 2022. Marshall, currently the Executive Vice President and Chief Human Resources Officer at Eaton, brings over 22 years of global HR experience. The Board, led by Chairman Bill O’Gara, welcomes Marshall's expertise in diversity and inclusion, which is expected to enhance Board oversight in this area. Marshall has held significant HR roles, including Vice President at GE Aviation, overseeing HR for 45,000 employees.