LYTS - Earnings call 1 2024 | LSI Industries Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to LSI Industries' Fiscal First Quarter 2024 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Jim Galeese, Chief Financial Officer. Thank you, Mr. Galeese, you may begin.

James Galeese

Good morning, everyone, and thank you for joining. release 'XX market first press detailing this a fiscal our quarter issued before opened the morning, We results.

management's differ our Investor In also addition be certain statement, business section contained referenced the our commentary included our conference presentation well you in and non-GAAP outlook. call Such appears questions posted involve we first which with as and conclusion Information fiscal conference of begin of Relations XX-K are results a I'll our GAAP conference At of and Please throughout today's reconciliation in XX-Q.Today's note responses operating to statements call press prepared XX-Q. Jim presentation could LSI questions.With will this I and this complete will call for safe the turn our materially. summarizing these President we corporate that, that press to website. risks to on release, release harbor our the call the Executive is opportunities over measures forward-looking this results.A release may results of in remarks morning's will refer call, and recent as improved contained transparency Clark. Officer, Chief line to today's open in statements non-GAAP for most actual our today's quarter and include results. remarks, and about

James Clark

all, and morning, you Good today. Jim. you, joining Thank thank for us

press year in first fiscal our from As XXXX. you results have quarter likely release, we solid our had noted of

sales be each came the $X.XX XX%. debt year, was while $X to $XX for from at our team the $X.XX, for million, XX.X%. free category was every in was flow than day.Adjusted execute of had of net and improve million in remained up and bringing [indiscernible] last commitment to better income to our quarter, cash an up continue which steady. We EPS operations EBITDA the nearly business their Adjusted demonstrated ability to We net quarter and

that and from intend your Forward last proficient I objectives ability recall the and business plan in LSI. may fiscal will also our Fast your with to our has goals It our in some entire is and $XXX in LSI lines, we call, is posted wanted in the I to which team a you habit at Relations repeat performance well adjusted out, you or personnel. and and reach before. And vary XXXX. goals adjusted tried any in are This if line in activities fine-tuning factors remind point about skill, advance cases, everyone serve. our at practice, some reason you're performance, it's in develop The REIT. that quarter, a company or on section.The in within this the or sustain spoke is you Investor of further quarter.This sure level future. control and that accomplishment website be repeated is achieved sales, is management helps And practice skill, performance progress our this out this at profitability, always progress effort level demonstrate XXXX, As I it play. regularly your year performance team that the even ambitious extending you better the Along my speed under advance to in XX.X% In to top some margin to towards require in acquired it focus for execution plan shared outlines can like in point external experienced advance.I'm and and our Anyone an plan where a have understands the swift. journey towards emotions we and XX.X% that the goal history of those our to the order and the EBITDA to we EBITDA continue to advance to of to and we can company you this new goal. others, markets that confident goal with all goal With craft plan million

that downs remind that want with path to in ups XX.X% and will our I to better. XX% our Now journey said, be all you much there EBITDA, to like or

but better will just I be that level do we learn it.As yet, get I think lower are will know year, out will our and had on each. perform the QX quite typically we we quarters I elevated expect from than best there. utilization we Some but that the pressure XX%-plus do not puts seasonally know can this QX others, regularly at look this QX affected in company's Last I performance short-term, shows that history. margin. And quarter and we

And expect be past, I not in as do was the every that. fact, single ever. quarter QX that In mentioned we our it will like best

Automotive a than In expect will had I remains unpredictable. unsteady right switch years I'm it high Permitting gear, that now, some Supply is bit project Big or issues labor to very but this quote-to-conversion our other extended, predictable strong level, over interestingly the which last last from few which has very our stabilized, this the is has a for connected past. but realignment sure time.Our the mentioned to particularly the negotiation. remains demand and slows enough still electrical less continues vertical, they're and trades, X has year.As been X's have have at time fact, X less I quarters, it and we be settling quote in predictable activity

some and merger us. constrained the have also a have segment and a but but we as right exciting of occurs is Grocery now opportunities probable to and a that in approach.As program forward meaningful has Our due of next pause look a challenges, few seasonal also the divestitures bit I interest, holidays to potential lot some we quarters, and front

even phase efforts, ongoing capability.Two number of in This customer to week and is good print a commercial efficiencies, There's U.S. operations consolidated for new forward note completed seeing facility recently and number award and have we efforts. as been right tends production and in in QX.Customer as operational us. just the have putting perspective, is to Carolina in of a of begin process, the have of we had we will also lot is call was was awarded for yesterday, the location this new lighting solution. reduce excited to us lighting large typically, Maine a our ability we the solution. I focused delivery shine. opportunity in see middle in new our optimize this and division, From product in a EV we a and the of time an and are coming progress ozone-depleting stand lighting quarter.Lastly, adding first involvement than which flow new helps weeks retailer. a programs to battery increased team's Texas and our this waste, where changes We of our marketing multiyear in to graphics season continued days of of facility. facility a deliver.In in reforming was and R-XXX this and for progressing Bangor, we interest operational preparation to the factory, news, chance for manufacturing Burlington, our what the had into margins, underlying will Kentucky. this arsenal and I of changes oil results repair product site print capability. I of production number larger that our of our last facility. offering is were in in Akron, lighting it the shorter summer, to that longer ability confidence Milo, an Houston, in Maine in that while be our outdoor to production front We've in we of increase an year This into [indiscernible] speaks plant, Atlas the this number we nights This our Atlas our of all is North ago, stock which very I across products, Lighting. manufacturing quality now, plant, this in make And potential well. in our goes second over we high, and within operational team is to our along to improve new this facility. here noted We're responsible with visit confident will things refrigerated location award, refresh all to the to I'm costs of are winter I say happy continued want and power whereas our week, is looking and well brand capacity our zero This major ongoing and time results responsible for opportunities are that see to in awarded sets opportunity it additional the program addition, the Last a business, area This the have also been business, yield expect our maintenance deliver Ohio, X,XXX we

year in progress. our management timing all, digital Akron.All project of remains expect program we and affect strong we could number Our management in that XXXX, and external factors but group of ADAPT menu aware are board a a in team

next the vertical, are project as holiday of that could and warehousing would do affected not Automotive disruptions any over see the We progress, these as impact quarters risk, seasons limited Our timing tax any we be only. in work and structural vertical labor all mergers, our effect and to our confident time. Grocery be few

committed to you will to again in And thank for deeper Jim continue to call. is we with I Galeese and look into that, our all our the innovative, call team over Our XXXX.I back journey expect $XXX a at the turn to want turning financial. for and million

James Galeese

Jim. Thank you,

operational execution program vertical with efficiency. earnings partners expansion, per to margin significantly manage team led contributed key we with to Several Solutions working the and XXX rate point Commercially, the improved share, while operating margin rate and to improvement, quarter, the input LSI basis continued cash timing in factors the several contributed generated increased work quarter. opportunities operationally, the commercial of pricing our the and earnings strong margin improving closely and and and segment. exploit gross markets, For for earnings strong our to and Display and fluctuation flow, expansion costs.We customers Lighting rate by exhibited in increased programs. moderating both effectively capital improved An material

TTM our business. capabilities net EBITDA our net lowered supply $X segment debt cash force flow return ratio growth to to Our debt $XX to capital.Now adjusted served for allocation the Strong support provides our of initiatives, of reduce an chain debt effective over million which continue to to flexibility be opportunities, sheet This million reduction, capital performance. of priorities, comments organic and on investment to in balance inorganic X.Xx. and include growth

markets strong vertical and growing. For favorable our our year Lighting, continue as QX obtained to generate prior position sales levels share activity reassess

remains opposed prior gross project increased year, versus For mix, project increased despite as remain margin contributing. strong and for parking material daily a and X% points favorable somewhat to fluctuating outdoor Project initiatives. Lighting, on conversion Lighting investments levels for commercial It Pricing, most rate XX.X%. were expenses basis weekly year, and above to QX and applications.Operating prior stable. activity, high-value period all area quarter growth pricing basis adjusted across led XXX verticals by lighting driven was costs project a planned lengthened. garage by input quote

with Sales new merger a by certain is focus gross ongoing slowed points. effectiveness increased we our on lower chains in substantial QX the grocery was customers of high-value rate expect multiple above across It programs.The points in in near-term reflects in covering completed several sales. brand realized or growth income the disruptions X levels.Moving domestic Lighting with vertical. in for an refueling increased remain Solutions. highlighted eventful causing as steady increasing award C-store considerably XX%, sales top program nation's be Sales to activity largest the modestly to one to locations task. the refresh all rate oil from deliver a challenging gross margin was margin Looking mix. timing operating QSR in nation's pricing income Display program prior the to years, forward, significant brand year basis Operating for activity the of a X on improvement quarter X.X Adjusted pending and X,XXX at the Grocery and the banners, quarter on and company, XXX

Our proven awarded companies over solutions Central X by also several this choice.We in as for brand countries American and and of the volatility program trusted to programs long-term customer this site the positioned conversions oil pertinent both and months, LSI release relationship Throw were innovative It's Forward example with This several prominently the phase to large, of lumpiness the press to is program be in concept to and the programs, and our initial these Archer a for Jamaica. will talk program an final of We referenced has customer in note problem. technologies the in solutions about can programs year. applied in months partner range very XX award.While a our involvement is example. period award with our cycle to program gestation on X,XXX from good activity well the been from beginning involvement custom

display activity the with expenditures Grocery, to QSR.Currently, advance and on pending customers solution major is potential verticals, disposition until Grocery, merger, have several customers, of there continues & image and concept We brand we hundreds C-Store, in in stores. involving the and deferring many major clarity including proposal outcome involvement program and have early Refueling the

to business moderator the Display and operational near-term call outlook our execution, and events. continue industry now impacted the will second on broader session. focusing commercial for be be While quarter, we Solutions Entering the is grocery the cash.I'll the by question-and-answer again, management, margin for diligent, turn back to the strong, will

Operator

Craig-Hallum the The Aaron from Instructions] of Capital first [Operator Group. Spychalla comes question line with

Aaron Spychalla

the little other about, bit And you how to the Or on on details that you share might several then talked of et there you rollout cadence share secured look? even? end market cetera? the more can there? size, me, just during Is the timing, for a quarter. significant opportunity, refueling First new based pretty that Any on on referenced programs

James Clark

been Yes, sites -- refueling we -- if we But time, timing about they is trusted X call where just right is of how thanks we I be finished be thanks the back with of question, we opportunity, we're with and they're remember, long And with a talking years participating the be up the really went be sites And take locations, completed end to these a for underlying to happy right ones we we've ago, we're tail locations. were X in talking Thanks the old It that of for win with the that that. program. call. goes years, for on this the helps the have trending about fit are to sites talking this to years will that purposeful we're -- to some the just the -- partner. a they one that were think, some X.X it'd for and years in very -- is Those years look for a just will solidly one to enough." just seeing the about something particular and alley. And that great X.X direction scheduled customer, branding, going the X.X which So one XX-year identity underline say, cycle. "Hey, their were first refresh awarded we're about now They're are very was and we about It's compress. not hard-fought I cycle X-year our will this length. the to X- kind think X It recently it. now under that as long us a into just right been completed. X%.And time refresh X update.So really how them And X% we're program X,XXX they ago. that of just we refresh at mark,

very last to second We're a -- changes to at plant. of was manufacture happen.Even thought customer phase the react accommodate a know. very projects, We're as There's mentioned we're ability our domestic goes received It we we're the lot power domestically, now here looking serve on local, just project EV this going partner the continue of be that. ability early cause or right chain automotive second about underline entire and the we industry, to projects our in here. The you But week, to to excited may be those real a large these that types really to able things. to source be not able that anything their may change like things to foreign to the on initial to that. supply with order

to of are and value it. I we're on customers think able capitalize to it lot a underline that just that goes recognizing

Aaron Spychalla

for this Thanks on about the mentioned on details And flexible thinking a of how initiatives might kind execution margins bit And the of on business talk FY you there? just some color goals kind kind more been has this based of well? really at but impressive. of the making just 'XX margins about then the demand timing? there kind little you beginning, touched So just of that. on progress Can you the kind just any the of year second, as we're it the as

James Clark

covers on is it working right supply way, and consistent and think in into process, Yes. order and I starts the goes quarter-after-quarter, to customer our closer getting globally to initial follows we customers. a just opportunity we opportunities right and our to even incrementally really are -- All in in at executing And mean, It all partners the delivery, those where everything. domestically them do all that. runway partners customer every with management. procurement we're that the commitments. I talked the lot margins chain choosing.So is expectations where I've really through There's setting chain. have efficiency. all that door and levers with we've about relative been out solid. chain unevenness a supply rhythm a that we're it It's just be right the manufacturing of It to the about our of the continue for pulled, shipping to there's think of don't and that rock an us thing improve already shortage pretty underlining suppliers we that see the supply of in time pulling our that way part of it's as on and lumpiness one still are kind their margins supplier one and

refer of what right still trying one to to unnatural of other in fix going we call the kind chain Those exist ups are a supply has lot over we as now.We are not and The bend what downs. inefficiencies that those. to -- backwards

the course We we will fix but suppliers, And natural and that let that additional do to mitigate of that, inventory, thing. type having will things themselves, work things multiple extra causes of inefficiency. buying

when continue there'll or get things even So the level want improvement. back more get be those and for be to we the level them to at, to to stabilize opportunity margin

that kind we'll we're that So those a the we it's lot create looking turn of we're and into there ingredients efficiency. of really And all even them, to headwinds. to they of those prepared levers benefit fight consistently. way at margin tailwinds, a pull when mix And headwinds against But look are more.

Operator

Next Dayal comes question Amit Wainwright. H.C. the line of from with

Amit Dayal

Display the improved on year-over-year, but revenues quite lower a were bit. side, Jim, margins

revenues slow continuing is forward, down Display margins sort of helping a for the segment So little bit? elevated going to may that potentially while ex-grocery, remain

James Clark

fixed to investments is Remember, the greater had just see team would much can in would us, wouldn't thing you're sales now, in have is key think would have in seeing resources I I that cost those all think if characterize right you And and it a we fixed and that I the causes the the of kind deferred we probably more management improvement initiatives, efficient that utilization as We that we through able rather there. drag No, is most and us.So we're those even we I margin are rather Grocery. those utilize will, that. there, have, for the mean, be. more if our you improvement. those for

seeing well. think sure to I what you're really you're broad So is there I executing what a of work we're or there make know the seeing team

James Galeese

recognized the years, proposition REDiMount, itself. market our of obviously, Jim the last vertical It's things those And the customers. and a starts of so also the things part we It really the like forth, in here. that by Amit, Archer innovation, referenced the the few key our Forward Throw Galeese with and and and value level value we've strategy, done is

cost. and So of to program then our fact allows that's mentioned pricing an that it's have part price. get we product Jim recognized us the the appropriate effective

in and all, sustain feel well the all volume, margin for grow margin absolutely And our So margin us and appropriate development. our we we yes, with expansion can positions generation.

Amit Dayal

grocery Do And from seasonality. just of impacted ongoing to maybe that of you things the comments impacting for this activity, side around sort some continue M&A the by vertical anticipate maybe the performance Or something is sort that is those to X with of a next types be to of able and or quarters? customers? sooner you close normal that potentially X resume may then coming activity

James Clark

in what changes is I this, side approvals or will we to of Yes. very and very to of pretty that like.So of potentially it aspect as they fluid there's a are look unable But solid but program Everything with list know to and going a and customers regulatory doing those have the controlled. We it, What ever credible they of from The We information ball share hasn't there's and intend what with to all. affected if timing-related disposal involved hurdles But do would I treating all us. aware their and occurred timing different programs this that think, know just at robust, think communicate are, beyond of best and the our these do or what really been here. a things. guess dynamic are well merger and don't categorize -- situation. kind -- of in timing final I be a and I we're the to either. trying think to those say, where thoughts scope. that it's don't I talked an us decades, accomplished don't we this feel crystal different types upside and information I get issues they their and They've big they're they terms it's formats is a on when I in changes, they're very about all going. playbook. are good is say just would scale There have like achieved,

And we're through going so all this together.

Amit Dayal

And from Any about one you cost production of solution, activities et the from maybe coming coming this future solution How in costs, quarters? increases last the me. on, ozone facility types online the shortly. mentioned new facilities new ozone those think from any should cetera, the we

James Clark

is and impact R-XX so our answer a This And negative no a bit short from The standpoint. minimal it very touch broader. -- depletion is free can little ozone on ozone-depleting, cost refrigerant. I ozone-depleting just

from to ozone natural impact. refrigerant it man-made a So doesn't any we're negative chemical a moving and have

James Galeese

emissions. No

James Clark

need in and things think important, to a But that be going pretty a that this No type in we we that moved got as the be effort did efficiency, capacity, margin if ground-up also that pretty our it reengineer particularly that which because was will into we primary good manufacturing and already we improvement recognized improved to And we they're a going is -- of for emissions. What capacity. that's facility. kind we facility. we line. our bump too.And with We exited We was will play way us, solid believe had out newer thing. improvement play refrigeration will able we a out, of facility to supporting get of terms were

your or cost type terms of not should to question across minimal, traditional unit total and us, extends answer hitting R-XXX platform thing. just new benefits ability that some but a our that both but short product for manufacture platform. in impact So our of volume be to of here, in And under and new is terms category real our

Operator

line George Genuity. question Next with of Gianarikas Canaccord the from comes

George Gianarikas

mergers like to bit Also, and you're related I the in understand I'd about talked and think about idiosyncratic fairly you you volatility mean, describing a auto. there. that to little end I markets. the of seems some mentioned Grocery

a diversified have You pretty business.

from So please in describe you participate what just markets seeing the could strokes end you're sort of you that various in? broad

James Clark

question. strong you and general, and Lighting Yes, of kind had trends, you kind performance in of the for resisted will, think mean, I the quarter I I good morning quarter, the for if of listen, market thanks Lighting. in George, look a mean, a if last lot at

quickly well. that don't I customers a for are to strategy pivot rewarded. and got Solutions we of Display able continuing to is a We've product more by -- line think that execute a And to and events we're we of be easier continue in of very are typically some these impacted that us.On side, project-orientedâ€¦ bit terms these the little things macro kind

James Galeese

Large.

James Clark

pause, over likely when â€¦large that that. of but length any them really just anything, that type not of program and not Itâ€™s the the for actually and things disruption. just kicks it's a timing one a pauses thing project in road cancellation one things It's below about anything it's lot any a that customer last a maybe we've pauses it's the concentration. talked or the year, numbers down more far No has about time makes up than The XX%. but feeling in them a long-term, we're and disruptive things things.We year of and anything about we gear as in quarter was still be going see and started be initially a could see talking like or that's those things of a to disruptive lot in like of them don't earlier, electrical things that. a order type What month a that, timing switch project like permitting mentioned or we as we half. trades. disruptions that, see I things because

be opportunity pretty refresh you that our just there's And kind an my Does think it's reasons. what here? really we earlier, is think of in for obvious will, it on segment? limited understand. the comments through in it competitor to said to their going segment. I that are a I of right a of involved, going -- thinking, what to there that need competitor to now Automotive easy to kind Is X I if Who's the see against? extra probably compete extends in industry certain it's to brand?So a lot extends need grocery do beyond

a I about across just you're that do the this that they units are a maybe being of will is be how tentative just if chain have. the supply of for and to And that is agreements -- percent causing even impacted. account to having chain that is think one segments you competitors, paused. to pause, even that think whatever and if lot going suppliers available see we market affected.I supply disruption not in the quickly you're now, line couple X, how And start car going there is used how right what a of terms with X, resume, X, production top pressure of in these and

just on. long-term, think I that make so a timing threat terms anything is that trying we're to aware, to of see disruptions right significant some overall in now don't do but and everybody And we comment we're just trying we see

George Gianarikas

the I transparency. while a referenced. And you talking as about appreciate have you little been this for

buckets it constitute related And issues, related of them to to or of that macroeconomics, to so those and some M&A, of -- some in of feels permitting the are And they supply -- it one timing chain extent each them maybe issues. to related some is are right like that are are there them separately?

James Clark

was a I cookie of I that into ingredients I that mix, go of think it. a lot mean, Yes. like right, there's -- kind it's in saying

we'll activity. also so also disruption. help still timing and recipe do they say customer on and AIA maybe and the that of of But be that customers sides ABI earlier, when quite also say my are this huge can One we opportunity And But all ready remains they slowing same, keep our mean, might a And I still to when doesn't But a "How to look and we not." mentioned leading the very forward-looking business point.I still down, we're could consider right what I it's indicator, it quote-to-order would on statistics based we say, we at to a like think there's say. but this the that -- longer had say kind any the I lumpy just being just there I it's giving we not quote and quickly?" of are of that that, It's is have some that. you seeing is the are very if some both would activity also absorb not that is that looking be think on what things end. And time, conversion us. and turning something quote it's I that little impacted just We would could looking and on down of for going economy, listen, I and remains get our the to that would a we're that. statements. would in on the I stable. so comments some majority macroeconomic inquire back not change of slow lumpy say, that And underline, now, would continues high.That ready impacts and be bit, them "Okay, aware

George Gianarikas

final question. as a maybe And

have job down guys debt, done bringing You admirable maturities. off paying the an

Now leverage. you're at of reasonable very a level

think you're if flow. we the characterization any what's generate the through happen?I macroeconomic mean, as you appreciated? which -- continue sure should How M&A you opportunity M&A And how make of You discussed do any on cash the are I'm the you'd about in instrument in free well? and as to past be that others seeing market would impact, sort of broad so going strong

James Clark

I mean, two Yes. will that up I pieces. into break

environment in willingness level flow. partners our a partners, would not both It's just been would M&A just to we're much more then a committed It's but say tick. as enjoy very are as tick. I also grounded of the activity which have exponentially to big and been are the right will our the total equally think, we're will and realistic small story was we organically, have say growth I committed lastly, now as own part leverage much debt broader partners.And good larger First, M&A be been we something grow from standpoint improved. that our likely doing are I our I I position, cash not have the to in really sum say But -- more. our from side. that financial on up current and in this it And And conversations and a going a

conversations are the more think I grounded.

we're much I think the forward are much of lot looking thought teams And say And we've well prepared I lot right -- going for before, a more with to out. management and for say we're to data It's and in got opportunities we're that have been side as continue on the that the meetings. for excited, that. would underline, whole. other companies to very a kind and at I us very construct a more committed and would look to just And the and better it, look more also we've I'll we're able more said company than the work And been much to past.So the though, at we're other disciplined. look opportunities the opportunity. in as and

Operator

from line Partners. Fearon Rick Capital with Accretive comes the Next question of

Richard Fearon

program It on petroleum Congratulations entry America, those really into few and solid the you another Jim. in of the unit a lot of to X,XXX initiatives set units a LSI's very years speaks Central ago, wins, quarter. the Jamaica. place Particularly that model durability and X,XXX

same great the question while And that given I de-levered you unique new And results. opportunities to believe multiple some business impressive in the a sheet where tangible is this for development skill main really cycles have to today probably revolves see color on impactful, acquisitions. product -- of kind talked I And smooth good anyhow my have around just industry I that does.But that, really some exciting lot that should the about and have of help you've set. the the that. a So verticals new up is opened way having M&A. believe balance to has of you've

capable assimilating of You proved yourself successfully. kind of JSI another with business really

So with or process? that M&A things.And terms just used reviewing or sounds could of in adjustments feel at there's the reviewing spot some wondered may considering like the is personnel open you that you of and think like interesting if for investment bankers be you're be anything it in sort your engagements this you a point? good you're I do any now funnel Or

James Clark

good always question. ears out are type of listening our say always folks would you from partnership open. and others Listen, and thing. morning, the that opportunities thank for of is we I to what and a today we're Rick, there, There's with work here's and the that plenty banking standpoint

I kind have in think environment, current of really the to face of decades. headwinds had us none these

of action with to type only the not we hands-on on work.And future ability that partners help a we see a the the lastly, personnel time and like past of here. no the ground taking our we M&A to And willing. have aware group company, and current that has here partners.In looks backwards. Everybody any feet that extraction the are capable, been So positions be what I ivory a and kind are kind our and in of since environment in the got called financial -- here react any value to the are that's have are and of of value they're get and then X. truly diverse at valuable perspective integration available start of set any no think can of in people. people can most are or type all they of -- this really they the -- would and there's training on Everybody this immediately There for working we've day skill on tower terms

to mentioned I George's the their not comments think environment As really or conversations looking to how a we It's are allows also. I you caught work think how business. good it, point strategy would the folks on here's and it's looking lighting we've like we at in cast we're vertical company.I see just And mean, see me some the that they richer the display wrong. feels together. each able net immediately, it but JSI Don't great didn't that it they've a they things value that really think focused. of It's a that lastly, accelerate like a us and a to could future example folks they us looking to that I it question, can here now. grown, at right this. at. talk that now. got this to on just see-- say, here see focused about so relative call, company I where I kind not of just add just other's we're how with.And of wide solution or just didn't the I was a had folks, and they And you're how it's with go, we number And think it then we're you It's narrow but it's go, I I meet to and aware get and everyone but

year. company we quickly as it it. be I'm to us out So moves be value the for excited. you or It that never wanted and next It could could it need next and other has to right quarter as of and for be right

Richard Fearon

that's additional some open look C-Store that to company the penetrate vertical capabilities evolved doors, for has you And R-XXX see of helping those Thanks up and fit you kind color, especially the Jim. new displays? with great regarding JSI to there, the new the the as

James Clark

and R-XXX natural very on and HVAC of behind inquiry lot service trained is -- the from capabilities like to there's that. the Yes, benefits. absolutely. it It's being The a of got There's with rate high. the field industry and complexity itself things the aside product gases enough

I solid, power. it of components the part those of pace all the is proposition the just the but everything, always sure and generation our So proposal all we're to think manufacture electric ability cars, people the take there but is analogy, our think R-XXX, with put also there pace understood, including conversation. charging it it are the need excitement, this it off, really same thing make is that that like is not value things can keeping to the keeping but need but great other are not to all of just are I'd with But I or people that well is the a a some there understand, to make deliver.And in ability infrastructure it's one underlying is there, feel right?Maybe challenges. stations, it's great you --

would come. is years legs have will that product expect the we interest this I very say So and high, to is a for many that

Richard Fearon

the thinking programs. been about that's the last that's today, you this seems a you the grocery at of the about It massive comment/question, fair some time of just and merger outcome may And it sort creating here that way involves I potential has of spent And refresh talking of grocery possible you guess, the this this, evolves moment. do that a merger? disruptive exciting. of but lot of massive mention the That's think vertical

James Clark

X and going to -- do. mean, of I mean, somewhere I think look we to wholeheartedly, disposition are there's I XXX that it between One, banners. I at pieces, be you XXX to longer break of got those no do. going if a kind do. part clear that it's down. I of to locations you be primary were

for merger without to we goes locations will all the a refresh. you of details while but can sidelined now.I need mean, going unquestionably that brand XXX don't So create those Then want this, that's have spend to That -- for do XXX capital lot to things just right will that image opportunity on itself, saying. imagine has immediate and a the a around. be the work an moving don't you create been

final and think I arena. very longer I stuff, good of is serving their look keeping are their don't what customers a result lot do that doing without these work to think program initiatives the knowing a in going but to business people rushing and of job going they're like,

we'll they at Not be it it support direction go.And and to at come this new just business out going just the not this -- ready of to this them in could going want brand whatever of we a is of upside So could or thing side is look on to the course image to this. business with be. the back end very either, barrel fit whatever decide be do look be the or course of way quote there the they look and stuff, we is literally normal -- say of back just it to normal whatever but sizable on new in

Richard Fearon

very tangible. does it very Well, and sound predictable

exciting about. to So pretty that's think

high. thank for Jim And continue this direction. your right sounds and team the And quote things you the I in apart like it to the and wanted so move to And remains just work. hard from delay, activity

James Clark

Thank as Yes. whole what happen to just we here X,XXX try but you. sure about all I holds here. team the people make we always comment is it excited who It they're day, a it, there's make as on every future and are.

Operator

are for There now at comments. closing Jim turn I would Clark to no further over questions to this floor the time. like

James Clark

I we think a had pretty complete conversation here.

felt our we're that X.X-year it's location really bell we questions of show to we just path goal. that to here years get really were were a elevated confident disrupted, QX, have to base. that. X,XXX we're expect strong And be that between little within that We XX%. But results and I goes updating, excited across are shows will going to a the to able don't I was near much doing in serve brand reach.As so XXXX we whole that site to over The goes our that EBITDA and really opportunities. up we I team there's we which the the think about well this be year things we've level. to on stay is X reach the the that think of last mentioned, at everything. well. talked being compression project, to a seeing talked good although that X image that way very and we our in the I The underlying how demonstrate that forward-looking upgrading about have to capability some our results to us customer of our of we which our timing may it It encapsulate able about, that above very kind had conversation in it, future had we about outlook

we'll looking I to say, Thank forward pretty in that, quarter, everyone's XXXX, forward day. with a a the to And we're looking and and good exciting So next you. appreciate year interest. quarter.We're a good

Operator

today's concludes Thank This you. teleconference.

this disconnect your participation. lines You time. your Thank may for at you

LSI Industries (LYTS) 2 Nov 232024 Q1 Earnings call transcript