By Dean Seal
Shares of LSI Industries jumped to a record high after the company's revenue surged in the fiscal second quarter thanks to strong demand and contributions from a recent acquisition.
The stock soared 21% to an all-time high of $23.97 after the market opened and were recently notching about a 20% gain. Shares were trading around $13.63 this time a year ago.
The Cincinnati-based maker of commercial lighting and display solutions said before the bell Thursday that revenue climbed 36% to $147.7 million for the final three months of calendar 2024, well above analyst forecasts for $129 million, according to FactSet.
The top-line gain was driven by strong demand across LSI's vertical markets and contributions from EMI, the metal and millwork maker it bought for $50 million last April.
Even without the EMI acquisition, LSI still logged a 14% rise in organic revenue from its core refueling, c-store and grocery verticals, Chief Executive James Clark said.
Earnings were $5.6 million, or 18 cents a share, compared with $5.9 million, or 20 cents a share, in the year-ago quarter.
Adjusted for one-time items, earnings were 26 cents a share, 6 cents above the consensus estimate.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 23, 2025 09:53 ET (14:53 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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