LSI Industries reports Q4 EPS 30c, consensus 18c

Reports Q2 revenue $123.64M, consensus $118.65M. Reports EBITDA of $12.6M, Adjusted EBITDA $14.1M or 11.4%/sales; Free Cash Flow +94% y/y to $15.6M…Our solid fourth quarter performance completes a successful fiscal 2023 for LSI. We demonstrated substantial progress across all key performance indicators, consistent with the strategic priorities detailed in our Fast Forward value creation plan,” stated James A. Clark, President and CEO of LSI. “We achieved record sales of $497M on more than 9% growth, significantly increased earnings with net income improving 71%, delivered more than $50 M of adjusted EBITDA, expanded EBITDA margin by 270 basis points, generated cash flow of over $46M and exited the year having reduced net debt by over 50%.” “Furthermore, the business is positioned for success moving forward as we strengthened our share position in key vertical markets, launched numerous new products and solutions, utilized service and product availability as a differentiator, and advanced relationships with partners and customers. Our employees executed exceptionally well in a dynamic operating environment, and I am proud of the LSI team for achieving this high level of performance.