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- **Q1 2026 Strong Performance**: $157M revenue (+14% YoY), 7% organic growth, driven by Lighting (+18%) and Display Solutions (+11%).
- **Vertical Market Strategy Success**: Gained market share in Lighting, awarded multimillion-dollar grocery project for quality over low-cost bids.
- **Seasonality Caution**: Q2 2026 Grocery growth expected, but lower than Q2 2025's 100% surge.
- **Financial Health**: EBITDA $15.7M (10% margin), amended credit facility to $125M for growth.
- **Strategic Initiatives**: Active M&A pipeline, successful Canada's Best integration, and operational efficiency improvements.

**【CEO Summary Section】**
- Q1 2026 revenue reached $157 million, up 14% YoY, with 7% organic growth driven by Lighting and Display Solutions.
- Emphasized vertical market strategy as a 'one-stop shop,' gaining market share in Lighting and Display Solutions.
- Highlighted seasonality in Grocery segment, cautioning against Q2 2026 comparisons to Q2 2025's 100% growth (50% organic).
- Integration progress with EMI and Canada's Best: EMI aligning operations, Canada's Best delivered one of its strongest quarters.

**【CFO Financial Commentary】**
- Adjusted EBITDA of $15.7 million (10% margin), up 19% YoY in EPS to $0.31.
- Lighting sales +18% YoY, driven by volume and market share gains; Display Solutions +11% YoY, led by grocery recovery and C-store programs.
- Free cash flow negative in Q1 due to receivables delay, expected improvement in Q2.
- Credit facility amended to $125 million, supporting strategic growth with net leverage <1x.

**【Q&A Key Highlights】**
- **Lighting Growth**: 18% YoY, primarily volume; 170bp gross margin improvement, sustained Q2 outlook.
- **Grocery Seasonality**: Q2 2026 growth expected, but tempered by Q2 2025's exceptional performance.
- **Display Solutions**: C-store programs (e.g., national chain expansion) and grocery projects with long-term visibility.
- **Pricing**: Stable, with pass-through for material cost changes; no pressure to lower prices.
- **M&A Pipeline**: Active, focusing on vertical market fits; Canada's Best integration success reinforces M&A strategy.

LSI Industries Inc. (LYTS) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

LYTS

LYTS fundamentals

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