LSI Industries Inc. (LYTS) Earnings
LSI Industries Inc. is expected to report next earnings on August 20, 2026 (in NaN days), with a consensus EPS estimate of $0.32. LYTS has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +6.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.12 | $0.06 | -50.0% | $151M | +8.5% |
| Jan 22, 2026 | $0.17 | $0.20 | +17.6% | $147M | +4.9% |
| Nov 6, 2025 | $0.22 | $0.23 | +4.5% | $157M | +12.0% |
| Aug 21, 2025 | $0.17 | $0.26 | +52.9% | $155M | +3.6% |
| Apr 24, 2025 | $0.13 | $0.13 | +0.0% | $132M | -4.6% |
| Jan 23, 2025 | $0.20 | $0.18 | -10.0% | $148M | +13.7% |
| Nov 7, 2024 | $0.23 | $0.26 | +13.0% | $138M | +2.4% |
| Aug 15, 2024 | $0.23 | $0.24 | +4.3% | $129M | +1.6% |
| Apr 25, 2024 | $0.16 | $0.21 | +31.2% | $108M | -14.8% |
| Jan 25, 2024 | $0.18 | $0.21 | +16.7% | $109M | -4.9% |
| Nov 1, 2023 | $0.24 | $0.29 | +20.8% | $123M | +0.9% |
| Aug 17, 2023 | $0.18 | $0.30 | +66.7% | $124M | +4.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
1. Jim Clark's overview: Joined LSI in 2018 when it was a $300M lighting company, introduced 2025 plan to reach $500M revenue and 10% EBITDA by 2025, achieved early, then Fast Forward plan to $800M revenue and $100M EBITDA by 2028. Organized around vertical markets instead of products, grew via adding new verticals and expanding within existing ones. Deployed over $500M across 4 acquisitions including Royston. 2. James Galeese's Q3 summary: Total sales $150.5M (+14% vs prior year, +9% excluding Royston). Adjusted earnings per share $0.28 ($0.27 excluding Royston). Adjusted EBITDA $15M (10% of sales), $14.1M excluding Royston with margin 9.8% (+130bps). Free cash flow $11.8M excluding acquisition-related costs. 3. Acquisition of Royston: Royston stub period included in Q3, Display Solutions segment expected to have solid Q4 with mid- to high single-digit sales growth including Royston.
Guidance
1. Display Solutions segment including Royston expected to have solid Q4 with mid- to high single-digit sales growth vs prior year. 2. Lighting segment expected to have near-term softness in Q4 with mid-single digit decline vs last year. 3. Consolidated net sales growth expected in low to mid-single digit percent range vs prior year. 4. Maintain price and cost discipline across organization to ensure healthy margins.
Segment performance
Display Solutions segment: Sales and adjusted operating income increased 14% and 64% respectively vs last year. Grocery vertical sales up double digits, orders 20% above last year with backlog above prior year. Refueling C-store vertical had high single-digit sales growth, orders double digits above prior year with book-to-bill over 1. Lighting segment: Sales increased 2% despite market environment changes, quote-to-order conversion period lengthened, near-term softness expected in Q4 with mid-single digit decline vs last year.
Risks & headwinds
1. Uncertainty in project quote-to-order conversion cycle in Lighting segment due to macro developments. 2. Integration of Royston may temporarily shift priorities and potentially slow down some future operations improvements if not managed properly.
Analyst Q&A
Q: Can you unpack the guidance, especially apples-to-apples with Royston?
A: Royston will go into Display Solutions segment, Q4 growth is comparable pro forma comparing Royston and LSI expectations.
Q: Talk about $5 million program work on C stores?
A: It's a program with a large C-store chain, first after several years of low activity, encouraging sign of vertical's positive environment.
Q: EBITDA margin for Display Solutions 12%, drivers and sustainability?
A: Greater share of wallet, procurement and operations improvements, Royston's accretive contribution, combination of core LSI improvements and Royston's addition.
Q: Visibility into efficiencies continuing?
A: Efficiencies are permanent improvements, expected to continue into Q4 and beyond, but integration of Royston may shift priorities slightly.
Q: Lighting business national accounts vs non?
A: Softness in nonnational accounts, but larger project activity not in jeopardy, just timing issue.
Q: Feedback on reaching out to Royston's customers?
A: Customers were generous with time, main questions were about changes, billing, and company operation, with assurances of continuing current ways and learning from each other.
Q: Macro drivers for company?
A: Company is a unique proposition in a new category, solving customer problems with one-stop solutions, creating a category of one.
Q: Cadence of revenues with Royston acquisition?
A: Revenue growth oriented, but takes time to get engaged in projects, natural flow to customer education and project phases.
Q: Using AI for integration and cross-selling?
A: Uses new technology tools, but real value is in people, integration done responsibly with collaborative approach.