The following is a summary of the LSI Industries, Inc. (LYTS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• LSI Industries saw an 8% decrease in total sales for Q3 of FY 2024 but had a 14% increase in adjusted net income YoY.

• The adjusted gross margin improved by 160 basis points, contributing to net income and margin expansion.

• Adjusted EBITDA margin grew by 80 basis points to 10.4% with adjusted earnings per share increasing by $0.02 to $0.21 a share.

• The acquisition of EMI Industries is expected to be immediately accretive to LSI on an adjusted earnings per share basis.

Business Progress:

• LSI announced the acquisition of EMI Industries, aligning with their strategic goal to reach $800 million in sales and 12.5% in EBITDA by 2028.

• The company plans to focus on significant organic growth, and aims to overcome the ongoing slowdown in the grocery vertical.

• Operational synergies between EMI and LSI's JSI component are being explored, along with new product development opportunities.

• Integration of EMI into LSI has begun, with both companies expected to reap substantial benefits.

• In terms of their labour costs, despite current wage inflation trends, LSI doesn't anticipate any significant changes due to their approach of offering competitive wages and prioritizing employees.

More details: LSI Industries IR

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