Lsi Industries Inc. · NASDAQ:LYTS
Lsi Industries — Q1 FY2025 Earnings Presentation
16 slides from Lsi Industries's earnings presentation, Nov 7, 2024
Slide 1: Fiscal First Quarter 2025 Results Conference Call
Fiscal First Quarter 2025 Results Conference Call November 7, 2024
Slide 2: Disclaimer: Forward-Looking Statements
DISCLAIMER Forward-Looking Statements This presentation contains “forward-looking statements”—that is, statements related to future events within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forwa
Slide 3: Key Messages: Fiscal First Quarter 2025 Results
KEY MESSAGES Fiscal First Quarter 2025 Results Strong commercial and operational Display Solutions positioned for growth Solid execution, execution inflection following improved order Q1FY25 sales 12% above PY driven by strong momentum consistent performance in Refueling/C-Store and QSR Order rates
Slide 4: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS Broad Solutions Portfolio and Unique Value Proposition Drives Profit Durability Total Net Sales ($M) Operating Income ($M) Q1 demonstrates $138.1 11.3 % strength of vertical 8.6% $123.4 $13.9 market strategy $11.0 $11.9 $9.1 Sales growth in Refueling/C- store, QSR and
Slide 5: Lighting Segment Update
LIGHTING SEGMENT UPDATE Demand Activity Fluctuates by Market Vertical; Pricing Remains Steady Lighting Segment Sales ($M) Lighting Segment Adj. Gross Margin ($M) Sales growth in select 34.4 verticals including $67.6 % Refueling/C-Store and QSR is $58.4 31.9 $23.3 % offset by lengthened quote- $18.7
Slide 6: Display Solutions Segment Update
DISPLAY SOLUTIONS SEGMENT UPDATE Resumption of Order Activity in Grocery Vertical; Organic Growth projected moving forward Display Solutions Segment Sales Display Solutions Segment Adj. Gross Margin Strong growth in Refueling/C- ($M) ($M) 24.5% Store sales driven by elevated $79.7 19.0 backlog of pr
Slide 7: Strong Cash Generation, Balance Sheet Discipline
STRONG CASH GENERATION, BALANCE SHEET DISCIPLINE Steady Cash Flow Trend Continues; Enable Ongoing Execution of Capital Allocation Strategy Free Cash Flow ($M) (1) TTM Free Cash Flow ($M) (1) Q1 Free Cash Flow of $11 million continues trend of $45.4 $43.8 $43.3 solid cash generation $38.0 $38.9 Reduc
Slide 8: Disciplined Working Capital Management
DISCIPLINED WORKING CAPITAL MANAGEMENT Favorable Working Capital Trends Continue; Inventory Aligned with Demand Levels Total Working Capital ($M) Effective Working Capital management contributes to $83.3 $86.8 solid Free Cash Flow $76.2 $75.8 $77.2 Days of Working Capital and EMI Inventory remains s
Slide 9: Appendix
APPENDIX
Slide 10: Statement on Non-GAAP Financial Measures
STATEMENT ON NON-GAAP FINANCIAL MEASURES This presentation includes adjustments to GAAP gross margin, operating income, net income, and earnings per share for the rolling five quarters ending September 30, 2024. Gross Margin, operating income, net income, and earnings per share, which exclude the im
Slide 11: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q12024 Q12025 Net Sales 123,441 138,095 Gross Margin 36,589 33,647 Lease expense on the step-up basis of acquired leases - 67 Severance costs/Restructuringcosts 347 39 AdjustedGrossMargin 36,936 33,753 AdjustedGrossMargin % 29.9% 24.4% LightingSegment Q12024 Q1
Slide 12: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q12024 Q12025 LightingSegment Q12024 Q12025 Net Sales 123,441 138,095 Net Sales 67,641 58,437 OperatingIncome 11,028 9,131 OperatingIncome 8,753 5,759 Acquisition costs - 48 Amortization expense of acquired intangible assets 603 603 Consulting expense: commerci
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Diluted Diluted Diluted Diluted Diluted LSI Industries Q12024 EPS Q22024 EPS Q32024 EPS Q42024 EPS Q12025 EPS Net Income Reported $ 8,028 $ 0.27 $ 5,906 $ 0.20 $ 5,375$ 0.18 $ 5,668 $ 0.19 $ 6,682 $ 0.22 Acquisition costs - - - - - - 722 0.02 $ 36 $ - Consulting expense: comm
Slide 14: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q12024 Q12025 Net Income Reported $ 8,028 $ 6,682 Income tax 2,338 1,635 Interest expense, net 566 875 Other expense (Income) 96 (61) OperatingIncome asReported 11,028 9,131 Depreciation and amortization 2,371 2,940 EBITDA $ 13,399 $ 12,071 Acquisition costs -
Slide 15: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Free CashFlow Q12024 Q22024 Q32024 Q42024 Q12025 Cash flow fromoperations $ 10,592 $ 9,276 $ 12,429 $ 11,096 $ 11,846 Less: Capital expenditures $ (1,393) $ (1,956) $ (1,277) $ (762) $ (759) Free cash flow $ 9,199 $ 7,320 $ 11,152 $ 10,334 $ 11,087 Net Debt OutstandingandLeve
Slide 16: For Additional Questions, Please Contact
For Additional Questions, Please Contact 720.778.2415 Thank you, LSI Investor Relations