Form 8-K

8-K — LSI INDUSTRIES INC

Accession: 0001437749-26-028592

Filed: 2026-08-20

Period: 2026-08-20

CIK: 0000763532

SIC: 3640 (ELECTRIC LIGHTING & WIRING EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — lyts20260814_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (ex_1007085.htm)

EX-99.2 — EXHIBIT 99.2 (ex_1006892_source.htm)

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8-K — FORM 8-K

8-K (Primary)

Filename: lyts20260814_8k.htm · Sequence: 1

lyts20260814_8k.htm

false

0000763532

2026-08-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 20, 2026

LSI INDUSTRIES INC.

(Exact name of Registrant as Specified in its Charter)

Ohio

01-13375

31-0888951

(State or Other

Jurisdiction of

Incorporation)

(Commission File Number)

(IRS Employer

Identification

No.)

10000 Alliance Road, Cincinnati, Ohio

45242

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code (513) 793-3200

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, no par value

LYTS

NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17CFR §240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 Results of Operation and Financial Condition.

On August 20, 2026, LSI Industries Inc. (“LSI” or the “Company”) issued a press release announcing operating results for the fiscal quarter and full fiscal year ended June 30, 2026. A copy of the press release is furnished with this Form 8-K as Exhibit 99.1 and is incorporated by reference herein.

Item7.01 Regulation FD Disclosure.

On August 20, 2026, LSI is hosting a conference call for the benefit of its investors to discuss the results set forth in the press release described in Item 2.02 above. A copy of the presentation, which is available at www.lsicorp.com, related to this conference call is attached as Exhibit 99.2 to this report and is incorporated by reference herein.

LSI’s presentation discloses certain financial results both in accordance with generally accepted accounting principles (“GAAP”) and on a non-GAAP basis with adjustments for certain items. LSI’s management believes that presentation of these non-GAAP financial measures and their related reconciliations are useful to investors because the non-GAAP financial measures provide investors with a basis for comparing the results to financial results from prior periods.

Information in the presentation contains forward-looking statements regarding future events and performance of LSI. All such forward-looking statements are based largely on LSI’s experience and perception of current conditions, trends, expected future developments and other factors, and on management’s expectations, and are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, those factors described in the presentation and in LSI’s filings with the Securities and Exchange Commission. LSI disclaims any intention or obligation to update or revise any financial or other projections or other forward-looking statements, whether because of new information, future events or otherwise.

The information in each of Item 2.02 and Item 7.01 of this Form 8-K and in the press release attached as Exhibit 99.1 and the presentation attached as Exhibit 99.2 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in each of Item 2.02 and Item 7.01 of this Form 8-K and each of Exhibit 99.1 and Exhibit 99.2 shall not be incorporated by reference in any filing (whether made before or after the date hereof) or any other document under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in any such filing, except as shall be expressly set forth by specific reference in any such filing or document.

Item9.01 Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.

Description

99.1

LSI Press Release dated August 20, 2026

99.2

Conference Call Presentation

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LSI INDUSTRIES INC.

BY:/s/ James E. Galeese

James E. Galeese

Executive Vice President, Chief

Financial Officer

Dated: August 20, 2026

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: ex_1007085.htm · Sequence: 2

ex_1007085.htm

Exhibit 99.1

LSI INDUSTRIES REPORTS FISCAL 2026 FOURTH QUARTER AND FULL-YEAR RESULTS

AND DECLARES QUARTERLY CASH DIVIDEND

CINCINNATI, August 20, 2026 – LSI Industries Inc. (Nasdaq: LYTS, “LSI” or the “Company”) a leading U.S. based manufacturer of commercial lighting and display solutions, today reported financial results for its fiscal 2026 fourth quarter and full year ended June 30, 2026.

FISCAL 2026 FOURTH QUARTER RESULTS

●

Net Sales +51% y/y to $234.6 million; organic growth +8%

●

Net Income $6.9 million; Adjusted Net Income $14.4 million

●

Diluted EPS of $0.18; Adjusted EPS $0.38 per diluted share

●

EBITDA $21.2 million; Adjusted EBITDA $25.7 million or 10.9%/sales

●

Free Cash Flow $9.7 million

FISCAL 2026 FULL YEAR RESULTS

●

Net Sales +20% y/y to record $689.4 million

●

Net Income $22.6 million; Adjusted net income $42.2 million

●

Diluted EPS of $0.67; Adjusted EPS of $1.25 per diluted share

●

EBITDA of $55.0 million; Adjusted EBITDA $69.7 million or 10.1%/sales

●

Free Cash Flow of $39.0 million

●

Ratio of net debt to proforma TTM Adjusted EBITDA of 2.7x

LSI reported net sales of $234.6 million in the fourth quarter, an increase of 51% versus the prior year period, led by sustained growth in key vertical markets and the first full-quarter contributions from the acquisition of Royston Group (“Royston”) on March 24, 2026. Excluding acquisition-related contributions, net sales increased 8% in the fourth quarter when compared to the year-ago period.

LSI reported fourth quarter net income of $6.9 million, or $0.18 per diluted share, including $3.0 million of acquisition-related expenses, while adjusted net income was $14.4 million, or $0.38 per diluted share.

The Company generated adjusted EBITDA of $25.7 million in the fourth quarter, an increase of 50% when compared to $17.1 million in the prior year quarter. Fourth quarter adjusted EBITDA margin rate increased 90 basis points sequentially versus the fiscal third quarter, driven by sustained operational discipline and a favorable margin contribution from the Royston acquisition.

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

For the twelve-month period ended June 30, 2026, LSI reported net sales of $689.4 million with adjusted earnings per diluted share of $1.25 compared to $1.07 in fiscal 2025. Fiscal 2026 sales include the partial year impact from the strategic acquisition of Royston.

For full-year fiscal 2026, LSI delivered margin expansion across adjusted operating income, adjusted net income, and adjusted EBITDA, driven by volume growth, strategic price actions, and productivity initiatives.

LSI generated Adjusted EBITDA of $69.7 million in fiscal year 2026, an increase of 27% versus the prior year, inclusive of an adjusted EBITDA margin rate of 10.1%, or 50 basis points above fiscal year 2025. A reconciliation of GAAP and non-GAAP financial results is included in this press release.

LSI generated free cash flow of $9.7 and $39.0 million for the fourth quarter and full year fiscal 2026, respectively. As of June 30, 2026, the Company had a ratio of net debt to proforma trailing twelve month adjusted EBITDA of 2.7x, and approximately $95 million of availability under its $350 million senior secured credit facility.

The Company declared a regular cash dividend of $0.05 per share payable on September 8, 2026, to shareholders of record on August 31, 2026.

MANAGEMENT COMMENTARY

“Fiscal 2026 was a transformational year for LSI, one in which we delivered record sales and profitability within our core business, while completing our largest acquisition to-date, with the purchase of Royston Group,” stated James A. Clark, President and CEO of LSI. “Over the past year, we continued to expand our differentiated portfolio of integrated retail branding solutions across a growing roster of leading brands, while reinforcing our market-leading positions in key consumer environments, including refueling, grocery and quick-service restaurants, through a collaborative approach focused on elevating the consumer experience.

“Fiscal fourth quarter net sales increased materially versus the prior-year period, supported by a combination of organic growth and contributions from the Royston acquisition,” stated Clark. “The addition of Royston has taken our vertical market strategy to a new level, creating unprecedented opportunities for commercial synergies that, over time, are expected to further demonstrate the power and durability of our value-compounding business model. To that end, adjusted net income increased nearly 40% versus the prior-year period in the fourth quarter, driven by a combination of volume growth, price discipline, and improved operational efficiency, consistent with our strategic focus.

“Our acquisition of Royston has further strengthened our differentiated value proposition across our vertical markets, creating a one-of-one platform that is generating strong enthusiasm among customers and partners for its ability to elevate the consumer experience and strengthen their brands in the marketplace,” continued Clark. “We are well positioned to capitalize on incremental growth opportunities by expanding our share of business with existing customers while attracting new customers that recognize the many benefits of partnering with our integrated, one-of-one, solutions-based platform.

“Within our Display Solutions segment, net sales doubled from the previous year period, including 18% organic growth, when compared to the fiscal fourth quarter 2025. Display segment adjusted EBITDA margin rate increased to 12.4%, the highest level reached in nearly three years, and an increase of 180 basis points versus the year-ago period,” stated Clark.

Page 2 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

“Organic growth in Display Solutions for the fourth quarter was supported by strengthening demand across the grocery and refueling/c-store vertical markets. Within the grocery vertical, refrigerated and non-refrigerated display cases sales increased 21% year-over-year, as grocery customers continued to invest in store décor and an enhanced consumer shopping experience. Activity within this vertical has steadily improved over the past two years following the industry-wide pause related to the proposed merger of two large grocery chains, and we expect demand to remain elevated entering fiscal 2027.

“Across the refueling/c-store vertical, fourth quarter sales increased 16% versus the prior year quarter. Both outdoor print graphics and EMI store interior products produced double-digit growth. Project activity remains healthy across our multi-brand customer base, including both new store and renovation activity. In the quarter, LSI was awarded a multi-year program with a large oil company to renovate approximately 2,500 sites. The program includes renovation of all exterior branding elements and includes both products and services. This represents a new customer win for our business, with the breadth of our integrated One LSI solution set serving as a key differentiator in displacing long-standing incumbent suppliers.

“The integration of Royston continues to advance at an accelerated pace as we refine and deploy a unified customer-facing value proposition and go-to-market model. Royston fourth quarter sales declined modestly on a year-over-year basis, consistent with our expectations, as we narrow our strategic focus around a higher-value product/project mix. Importantly, several of Royston’s largest c-store customers are in the initial phase of a multi-year renovation and new construction cycle, with project activity that is expected to ramp beginning in fiscal 2027 and continue throughout the next several years,” stated Clark.

“Entering fiscal 2027, we anticipate a sustained, elevated pace of project activity within the Display Solutions segment. As has been the case in recent years, we also expect the timing of project activity will not be linear, as customers navigate site scheduling, permitting, and procurement requirements. Given a dynamic operating environment, we will continue to adapt and respond accordingly, while providing our customers with an integrated, on-stop solution that solves for the complexities of large-scale site construction and remodeling project management.

“Within Display Solutions, project activity remains elevated and order rates remain strong, with a book-to-bill of approximately 1.0x on strong sales,” continued Clark. “Importantly, order rates do not include the $30 million refueling/c-store program award we received during the fourth quarter 2026.

“For our Lighting segment, fourth quarter sales increased 17% versus the fiscal third quarter but declined 3% when compared to the fiscal fourth quarter 2025, the result of a soft quarter for the automotive and QSR verticals, where project activity can be uneven throughout the fiscal year.

“For fiscal year 2026, Lighting segment sales increased 7%, with growth driven by increased penetration of national accounts, together with improved demand for outdoor area lighting,” continued Clark. “Our recently launched V-LOCITY family of outdoor area lighting continues to gain market acceptance, with customers recognizing the industry leading specifications and performance afforded by the new product line. In addition, we are in the final development phase of our new Velocity Flood light fixture line, with initial sizes to be launched in the calendar year fourth quarter. The new Flood range expands our high performing Velocity series of products, further strengthening our outdoor range of products. Lighting fourth quarter orders were 5% above last year with a book-to-bill above 1.0.”

Page 3 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

Clark concluded, “During fiscal 2026, we built upon a strong foundation for profitable growth as we meaningfully expanded our capabilities, significantly increased our market share in key verticals, and continued to focus on driving a unique-to-market value proposition that has fundamentally redefined the retail branding solution category. With the addition of Royston, we’re focused on realizing the benefits of scale, while leveraging a proven playbook that prioritizes on-plan execution. Our long-standing customer relationships, together with the trust and confidence customers place in the combined LSI and Royston brands, position us to become an even more valuable strategic partner and capture a greater share of wallet, over time. We’re confident in the outlook for our business and look forward to continuing to create value with our customers, employees and shareholders in the years ahead.”

FISCAL 2026 FOURTH QUARTER CONFERENCE CALL

A conference call will be held today at 11:00 A.M. ET to review the Company’s financial results and conduct a question-and-answer session.

A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of LSI Industries’ website at www.lsicorp.com. Individuals can also participate by teleconference dial-in. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time to register, download and install any necessary audio software.

Details of the conference call are as follows:

Domestic Live: 877-407-4018

International Live: 201-689-8471

To listen to a replay of the teleconference, which subsequently will be available through September 3, 2026:

Domestic Replay: 844-512-2921

International Replay: 412-317-6671

Conference ID: 13761791

ABOUT LSI INDUSTRIES

Headquartered in Cincinnati, LSI is a publicly held company traded over the NASDAQ Stock Exchange under the symbol LYTS. The company manufactures advanced lighting, graphics, and display solutions across strategic vertical markets. The company’s American-made products, which include non-residential indoor and outdoor lighting, print graphics, digital graphics, refrigerated and custom displays, help create value for customer brands and enhance the consumer experience. LSI also provides comprehensive project management services in support of large-scale product rollouts. The company employs approximately 3,000 people at 23 manufacturing plants in the U.S. and Canada. Additional information about LSI is available at www.lsicorp.com

Page 4 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

FORWARD-LOOKING STATEMENTS

Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the federal securities laws and is intended to receive the protections of such laws.

All statements, other than historical facts, included or incorporated in this release could be deemed forward-looking statements, particularly statements that reflect our expectations or beliefs of LSI Industries Inc. (the “Company,” “LSI,” “we,” or “us”) concerning future events or our future financial performance. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by discussions of strategy, plans, or intentions or by the use of words such as “may,” “would,” “could,” “should,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “project,” “predict,” “potential,” “continue,” or “intend,” the negative or other variants of such terms, or other comparable terminology.

The Company cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations as a result of various factors, including, but not limited to: the impact of competitive products and services; product and pricing demands and market acceptance risks; LSI’s reliance on third-party manufacturers and suppliers; substantial changes to the refueling and convenience store and grocery markets; LSI’s stock price volatility and market volatility in the debt and equity markets; potential costs associated with litigation, other proceedings and regulatory compliance; LSI’s ability to adequately protect intellectual property, information technology security threats and computer crime; financial difficulties experienced by customers; the cyclical and seasonal nature of our business; the failure of acquisitions or acquired companies to achieve their plans or objectives generally; our ability to consummate, successfully integrate, and achieve strategic and other objectives, including any expected synergies, relating to pending or recently completed acquisitions; the inability to effectively execute our business strategies; the ability to retain key employees, including key employees of acquired businesses; labor shortages or an increase in labor costs; changes in product mix; unfavorable economic, political, and market conditions, including interest rate fluctuations and inflation; changes in U.S. trade policy, including mitigating the impacts of increased costs related to tariffs; the results of asset impairment assessments; price increases of materials; significant shortages of materials; shortages in transportation and increases in fuel prices; sudden or unexpected changes in customer creditworthiness; write-offs or impairment of capitalized costs or intangible assets in the future; and the other risk factors LSI describes from time to time in the Company’s Annual Report on Form 10-K (the “Form 10-K”) and in other reports filed with or furnished to the U.S. Securities and Exchange Commission (the "SEC") by the Company. You should carefully consider the trends, risks, and uncertainties described in this news release, the Form 10-K, and other reports filed with or furnished to the SEC by the Company before making any investment decision with respect to our securities. If any of these trends, risks, or uncertainties continues or occurs, our business, financial condition, or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment.

Forward-looking statements are made in the context of information available as of the date of this news release and are based on our current expectations, forecasts, estimates, and assumptions. The Company undertakes no obligation to update or revise such statements to reflect circumstances or events occurring after this news release except as may be required by applicable law. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

Page 5 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

INVESTOR & MEDIA CONTACT

Noel Ryan

720.778.2415

LYTS@vallumadvisors.com

Three Months Ended

June 30

(Unaudited)

Twelve Months Ended

June 30

2026

2025

(In thousands, except per share data)

2026

2025

234,621

155,066

Net sales

689,397

573,377

177,206

114,633

Cost of products sold

516,032

431,592

57,415

40,433

Gross profit

173,365

141,785

42,925

28,489

Selling and administrative costs

134,962

106,016

14,490

11,944

Operating Income

38,403

35,769

330

(698

)

Other (income) expense

1,001

(398

)

4,134

865

Interest expense, net

5,928

3,129

10,026

11,777

Income before taxes

31,474

33,038

3,150

3,605

Income tax

8,895

8,655

6,876

8,172

Net income

22,579

24,383

Weighted Average Common Shares Outstanding

36,908

30,090

Basic

32,871

29,903

37,690

30,968

Diluted

33,707

30,832

Earnings Per Share

0.19

0.27

Basic

0.69

0.82

0.18

0.26

Diluted

0.67

0.79

Page 6 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

(amounts in thousands)

June 30,

2026

2025

Current assets

295,885

194,166

Property, plant and equipment, net

56,714

31,154

Other assets

477,265

171,042

Total assets

829,864

396,362

Current maturities of long-term debt

10,000

3,571

Other current liabilities

139,919

93,778

Long-term debt

245,931

44,986

Other long-term liabilities

73,337

23,305

Shareholders' equity

360,677

230,722

829,864

396,362

Three Months Ended June 30, 2026, Results

Net sales for the three months ended June 30, 2026, were $234.6 million, up 51% from the three months ended June 30, 2025, reported net sales of $155.1 million. Lighting Segment net sales of $70.5 million decreased 3% and Display Solutions Segment net sales of $164.2 million doubled from last year’s fourth quarter net sales. Net income for the three months ended June 30, 2026, was $6.9 million, or $0.18 per share, compared to $8.2 million or $0.26 per share for the three months ended June 30, 2025. Earnings per share represent diluted earnings per share.

Twelve Months Ended June 30, 2026, Results

Net sales for the twelve months ended June 30, 2026, were $689.4 million, up 20% from the twelve months ended June 30, 2025, reported net sales of $573.4 million. Lighting Segment net sales of $266.2 million increased 7% and Display Solutions Segment net sales of $423.2 million increased 30% from last year’s net sales. Net income for the twelve months ended June 30, 2026, was $22.6 million, or $0.67 per share, compared to $24.4 million or $0.79 per share for the twelve months ended June 30, 2025. Earnings per share represent diluted earnings per share.

Balance Sheet

The balance sheet on June 30, 2026, included current assets of $295.9 million, current liabilities of $149.9 million and working capital of $146.0 million, which includes cash of $14.3 million. The current ratio was 2.0 to 1. The balance sheet also included shareholders’ equity of $360.7 million and long-term debt of $245.9 million. It is the Company’s priority to continuously generate sufficient cash flow, coupled with our credit facility, to adequately fund operations.

Page 7 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

Cash Dividend Actions

The Board of Directors declared a regular cash dividend of $0.05 per share for the fourth quarter of fiscal 2026, payable September 8, 2026, to shareholders of record as of the close of business on August 31, 2026. The indicated annual cash dividend rate is $0.20 per share. The Board of Directors has adopted a policy regarding dividends which provides that dividends will be determined by the Board of Directors in its discretion based upon its evaluation of earnings both on a GAAP and non-GAAP basis, cash flow requirements, financial condition, debt levels, stock repurchases, future business developments and opportunities, and other factors deemed relevant by the Board.

Non-GAAP Financial Measures

This press release includes adjustments to GAAP operating income, net income, and earnings per share for the three and twelve months ended June 30, 2026, and 2025. Operating income, net income, and earnings per share, which exclude the impact of long-term performance-based compensation expense, the amortization expense of acquired intangible assets, commercial growth opportunity expense, acquisition costs, the lease expense on the step-up basis of acquired leases, and restructuring and severance costs, are non-GAAP financial measures. We further note that while the amortization expense of acquired intangible assets is excluded from the measures, the revenue of the acquired companies is reflected in the measures, and the acquired assets contribute to revenue generation. We exclude these items because we believe they are not representative of the ongoing results of the operations of the business. Also included in this press release are non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA and Adjusted EBITDA), Net Debt to Adjusted EBITDA, Free Cash Flow, and organic sales growth. We believe that these are useful as supplemental measures in assessing the operating performance of our business. These measures are used by our management, including our chief operating decision maker, to evaluate business results, and are frequently referenced by those who follow the Company. These non-GAAP measures may be different from non-GAAP measures used by other companies. In addition, the non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations, in that they do not reflect all amounts associated with our results as determined in accordance with U.S. GAAP. Therefore, these measures should be used only to evaluate our results in conjunction with corresponding GAAP measures. Below is a reconciliation of these non-GAAP measures to net income and earnings per share reported for the periods indicated, along with the calculation of EBITDA, Adjusted EBITDA, Free Cash Flow, Net Debt to Adjusted EBITDA, and organic sales growth.

Page 8 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

Three Months Ended

June 30

(Unaudited)

Twelve Months Ended

June 30

2026

2025

% Change

(In thousands, except per share data)

2026

2025

% Change

234,621

155,066

Net sales

689,397

573,377

14,490

11,944

Operating income as reported

38,403

35,769

1,118

970

Long-term performance based compensation

4,117

4,939

-17

121

240

Severance costs and restructuring costs

300

-75

3,801

1,588

139

Amortization expense of acquired intangible assets

8,645

5,869

3,040

225

1251

Acquisition costs

9,979

1,047

152

153

Expense on step-up basis of acquired leases

605

356

Consulting expense: commercial growth initiatives

22,722

15,120

Operating income as adjusted

61,824

48,361

6,876

8,172

-16

Net income as reported

22,579

24,383

-7

14,439

10,577

Net income as adjusted

42,205

32,883

0.18

0.26

-31

Earnings per share (diluted) as reported

0.67

0.79

-15

0.38

0.34

Earnings per share (diluted) as adjusted

1.25

1.07

Three Months Ended

Twelve Months Ended

June 30

2026

2025

(In thousands, except per share data)

2026

2025

Diluted

EPS

Diluted

EPS

Reconciliation of net income to adjusted net income

Diluted

EPS

Diluted

EPS

6,876

0.18

8,172

0.26

Net income as reported

22,579

0.67

24,383

0.79

1,194

0.03

912

0.04

Long-term performance based compensation

3,458

0.10

3,951

0.13

Consulting expense: commercial growth initiatives

3,135

0.09

211

Acquisition costs

8,340

0.25

838

0.03

168

130

Expense on step-up basis of acquired leases

508

0.02

285

0.01

195

0.01

Severance costs and restructuring costs

240

0.01

3,569

0.10

1,485

0.05

Amortization expense of acquired intangible assets

7,220

0.21

4,745

0.16

122

(489

)

(0.02

)

Foreign currency transaction loss (gain) on intercompany loan

329

0.01

(489

)

(0.02

)

(723

)

(0.02

)

(39

)

Tax rate difference between reported and adjusted net income

(293

)

(0.01

)

(1,132

)

(0.04

)

14,439

0.38

10,577

0.34

Net income adjusted

42,205

1.25

32,883

1.07

The foreign currency transaction gain (loss) on intercompany loan relates to an intercompany loan established as a result of the acquisition Canada’s Best Holdings as a method to repatriate cash generated in Canada to the Unites States without being subject to a withholding penalty.

Page 9 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

Three Months Ended

(Unaudited; In thousands)

Twelve Months Ended

June 30

Net Income to Adjusted EBITDA

June 30

2026

2025

% Change

2026

2025

% Change

6,876

8,172

-16

Net income as reported

22,579

24,383

-7

3,150

3,605

Income tax

8,895

8,655

4,134

865

Interest expense, net

5,928

3,129

330

(698

)

Other expense (income)

1,001

(398

)

14,490

11,944

Operating income as reported

38,403

35,769

6,745

3,555

Depreciation and amortization

16,565

12,575

21,235

15,499

EBITDA

54,968

48,344

1,118

970

Long-term performance based compensation

4,117

4,939

121

240

Severance costs and restructuring costs

300

3,040

225

Acquisition costs

9,979

1,047

Consulting expense: commercial growth initiatives

152

153

Expense on step-up basis of acquired lease

605

356

25,666

17,087

Adjusted EBITDA

69,744

55,067

10.9

11.0

Adjusted EBITDA as a Percentage of Sales

10.1

9.6

Three Months Ended

(Unaudited; In thousands)

Twelve Months Ended

June 30

Free Cash Flow

June 30

2026

2025

% Change

2026

2025

% Change

11,559

9,499

Cash flow from operations

44,148

38,118

(1,900

)

(950

)

Capital expenditures

(5,142

)

(3,465

)

9,659

8,549

Free cash flow

39,006

34,653

Net Debt to Adjusted EBITDA Ratio

June 30,

(amounts in thousands)

2026

2025

Current Maturity of Debt

10,000

3,571

Long-Term Debt

245,931

44,986

Total Debt

255,931

48,557

Less: Cash

(14,249

)

(3,457

)

Net Debt

241,682

45,100

Adjusted EBITDA - Trailing Twelve Months

89,027

55,067

Net Debt to Adjusted EBITDA Ratio

2.71

0.82

Page 10 of 11

LSI Industries Fourth Quarter and Full Year Fiscal 2026 Results

August 20, 2026

Fourth Quarter

Organic compared to Inorganic Sales

Q4 2026

Q4 2025

% Variance

Lighting Segment

70,458

72,743

-3

Display Solutions Segment

- Comparable Display Solutions Sales

97,266

82,323

- Royston

66,897

Total Diplay Solutions Sales

164,163

82,323

Total net sales

234,621

155,066

Less:

Royston

66,897

Total organic net sales

167,724

155,066

Page 11 of 11

EX-99.2 — EXHIBIT 99.2

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