Q1 2025 LSI Industries Inc Earnings Call Transcript
Key Points
- Sales increased by 12% year over year, driven by robust project activity in the refueling C-store space and increased activity in the grocery market.
- EBITDA for the quarter exceeded $13 million, with free cash flow over $11 million, indicating strong financial performance.
- The company's book-to-bill ratio was 1.3 times in the first quarter, reflecting strong demand and successful project execution.
- Integration of the recent acquisition, EM, is progressing well, with record performance levels achieved in its first quarter as part of LSI Industries Inc (LYTS).
- The company has a healthy balance sheet with net debt under one times at 0.8, providing financial stability and flexibility for future growth.
- Order timing remains choppy, with large project activity experiencing delays, affecting revenue recognition.
- The grocery segment is under a partial cloud of uncertainty due to ongoing court hearings, impacting order consistency.
- Lighting segment has faced headwinds with large projects experiencing timing delays, affecting sales in this vertical.
- Gross margin was lower compared to the prior quarter, attributed to product mix and ramp-up costs in the grocery segment.
- The automotive vertical is experiencing flat to slightly down performance, indicating potential challenges in this market.
Good day and welcome to the L SS I Industries fiscal first quarter, 2025 results conference call today. (Operator Instructions) Please note that today's event is being recorded.
I would now like to turn the conference over to Mr. James Galeese, CFO. please go ahead, sir.
Welcome everyone and thank you for joining today's call. We issued a press release before the market opened this morning detailing our fiscal '25 1st quarter results.
In addition to this release, we also posted a conference call presentation in the investor relations section of our corporate website.
Information contained in this presentation will be referenced throughout today's conference call included are certain non-GAAP measures for improved transparency of our operating results.
A complete reconciliation of GAAP and NONGAAP results is contained in our press release and 10-Q please note that management's commentary and responses to questions on today's conference
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