LSI Industries reports Q4 EPS 24c, consensus 22c

Reports Q4 revenue $129M, consensus $126.99M. Reports EBITDA $11.9M; Adjusted EBITDA $14M or 10.9%/sales “The fiscal fourth quarter concludes a pivotal year for our business, as we continued to expand our vertical market capabilities, including the acquisition of EMI Industries,” stated James A. Clark, President, and CEO of LSI. “Executing on our multi-year value-creation strategy, we have continued to develop leading positions across growing industry verticals, strengthened relationships across key partners and channels, and further improved our quality of earnings. LSI brings an unmatched portfolio of integrated solutions to every customer opportunity. “Sound execution underscores our fourth quarter performance, as LSI achieved solid financial results while effectively managing an environment of fluctuating demand levels,” continued Clark. “For the full fiscal year, we achieved adjusted EBITDA of over $51 M approximately equal to our record prior year level, and expanded EBITDA margin by sixty basis points to 11.0%. We generated free cash flow of over $38 million and exit the year with a strong balance sheet including a net leverage ratio of 1.0x. Thanks to the dedication and hard work of our team, we continue to demonstrate structurally higher performance levels across our end markets. “The underlying demand fundamentals for our key markets remain healthy and we are positioned to achieve another year of profitable growth in fiscal 2025. Growth is expected to resume within the grocery vertical over the coming year, and our display solutions backlog for the refueling/c-store market is strong entering fiscal 2025, reflecting multiple major customer program wins in the second half of fiscal 2024. In addition, with our recent acquisition of EMI, we are excited to offer our customers an even broader array of complementary products and solutions, while cross-selling into both new and existing relationships. Our ability to serve the full project lifecycle, from concept, to installation, to ongoing support, provides meaningful opportunity to capture value across each phase of the project continuum, further strengthening our customers’ trust and confidence in LSI, and earn an increased share of business