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Mar 31, 2023
LSI Q3 2023 Earnings Report
LSI Industries experienced growth in sales and profitability, driven by the Lighting segment and margin management.
Key Takeaways
LSI Industries reported a 7% increase in net sales to $117.5 million and a 29% increase in net income to $4.7 million for the fiscal third quarter. The Lighting segment drove growth, while Display Solutions experienced a slight decline. The company generated $11.7 million in free cash flow and reduced net debt.
Net sales increased by 7% year-over-year to $117.5 million.
Net income rose by 29% year-over-year to $4.7 million, with diluted EPS of $0.16.
Free cash flow was strong at $11.7 million.
Net debt declined to $48.2 million, representing 1.0x TTM Adjusted EBITDA.
Forward Guidance
While overall business activity is expected to remain favorable, timing of realized sales may fluctuate somewhat until the quote-to-order conversion period returns to a more historic cadence.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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