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LSI Industries Reports Fiscal 2026 Third Quarter Results and Declares Quarterly Cash Dividend

LYTS
  • LSI Industries reported fiscal 2026 third-quarter net sales of $150.5 million, a 14% year-over-year increase that includes six days of revenue from the Royston Group acquisition.
  • Excluding Royston contributions, net sales grew 9% year-over-year driven by increased demand in vertical markets across Lighting and Display Solutions segments.
  • The company completed the acquisition of Royston Group on March 24, 2026, financing the transaction through an underwritten public offering that issued approximately 5.5 million shares in March 2026.
  • Reported net income was $2.1 million ($0.06 diluted EPS), while adjusted net income was $9.6 million ($0.28 adjusted diluted EPS), a 52% increase year-over-year.
  • Adjusted EBITDA reached $15.0 million, up 34% year-over-year, resulting in an adjusted EBITDA margin of 10.0%.
  • The Display Solutions segment saw exceptional growth with sales up 23% year-over-year, driven by strong activity in grocery and refueling/c-store markets.
  • The Lighting segment reported 2% sales growth, impacted by unfavorable weather conditions, though adjusted gross margin improved by 30 basis points.
  • Total free cash flow for the quarter was $11.8 million, excluding non-recurring acquisition-related items.
  • LSI's net debt to pro forma trailing twelve-month adjusted EBITDA ratio stands at 2.7x following the Royston transaction.
  • The company declared a regular quarterly cash dividend of $0.05 per share, payable on May 12, 2026, to shareholders of record on May 4, 2026.
  • As of March 31, 2026, LSI held approximately $100 million in combined cash and credit facility availability.