LSI Industries Forms Strategic Partnership with Carter Thermal Industries
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
LSI Industries announced a strategic partnership with privately held Carter Thermal Industries Group, a global player in refrigeration and environmental controls solutions. Under the terms of the agreement, LSI will become the exclusive partner throughout the United States and Canada for advanced refrigerated display and store solutions developed by U.K.-based Carter, effective May 28, 2026. Under the Partnership, LSI will market, manufacture, sell, and support refrigeration systems designed by Carter. LSI intends to produce co-branded remote refrigeration units across its existing North American manufacturing footprint, providing scalable production capabilities, competitive manufacturing lead times, and enhanced flexibility to support customer rollout requirements. "Our strategic partnership with Carter provides LSI with an immediate, capital-light entry point into the remote refrigeration market, as we continue to build our integrated retail branding solutions platform across North America," stated Jim Clark, President and Chief Executive Officer of LSI Industries. "Carter's engineering expertise and proven technology, combined with LSI's manufacturing footprint, deep customer relationships, and proven support capabilities, position us to accelerate profitable growth across our integrated portfolio of refrigeration solutions. We look forward to building on this important partnership in the years ahead."
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Analyst Views on LYTS
Wall Street analysts forecast LYTS stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 24.330
Low
27.00
Averages
29.33
High
31.00
Current: 24.330
Low
27.00
Averages
29.33
High
31.00
About LYTS
LSI Industries Inc. is a producer of non-residential lighting and retail display solutions. The Company operates through two segments: Lighting and Display Solutions. The Lighting Segment manufactures, markets, and sells outdoor and indoor lighting fixtures and control solutions in the vertical markets: refueling and convenience store, parking lot and garage, quick-service restaurant, retail, grocery and pharmacy, automotive dealership, sports court and field, and warehouse. It services these markets through multiple channels: project business sold through electrical distributors and agents and shipped directly to the customer; standard products sold to and stocked by distributors, and direct to end-use customers. The Display Solutions Segment also manufactures, sells and installs exterior and interior visual image and display elements, including printed graphics, structural graphics, digital signage, menu board systems, refrigerated displays, and custom display elements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Profitability Gains: The non-GAAP EPS of $0.28 exceeded the consensus estimate of $0.21 by 33.3%, showcasing the company's successful execution in integrating acquisitions and improving operational efficiency.
- Acquisition Integration Success: The Royston acquisition contributed positively to revenue and margins, with management emphasizing the importance of cultural fit and operational alignment, which is expected to accelerate LSI's vertical market strategy.
- Optimistic Market Outlook: Management expressed confidence in future growth, particularly in the grocery and convenience store sectors, anticipating sustained sales growth driven by ongoing order momentum and a healthy project backlog.
See More
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- Strategic Shift: CEO Jim Clark emphasized LSI Industries' focus on vertical markets and integrated solutions, targeting $800 million in revenue and $100 million in EBITDA by 2028, with a current pro forma revenue run rate approaching $900 million, indicating enhanced market relevance.
- Financial Performance: CFO Jim Galeese reported a 14% year-over-year increase in Q3 sales to $150.5 million, with adjusted earnings per share at $0.28 and adjusted EBITDA at $15 million, representing 10% of sales, demonstrating stable profitability.
- Market Outlook: While the Display Solutions segment is expected to see mid- to high single-digit sales growth driven by customer demand, the Lighting segment is projected to decline in mid-single digits, reflecting a lengthening quote-to-order conversion cycle and macroeconomic factors.
- Acquisition Integration: The acquisition of Royston is viewed as a significant opportunity, although management expressed caution regarding the integration process, emphasizing the need for patience to avoid risks associated with rapid integration, while noting a $5 million project win in the c-store sector, highlighting positive market activity.
See More
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See More
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- Significant Revenue Growth: The company achieved revenue of $150.53 million in Q3, representing a 13.6% year-over-year increase and exceeding market expectations by $12.48 million, showcasing its success in sales and market expansion.
- Net Sales Increase: Net sales reached $150.5 million, up 14% year-over-year, and excluding the Royston impact, net sales grew by 9%, demonstrating robust growth in the company's core business operations.
- Capital Market Activity: LSI Industries announced a $90 million stock offering aimed at providing funding for future expansions and investments, further enhancing its market position and financial flexibility.
See More
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- Revenue Expectations: The revenue estimate for Q3 stands at $138.05 million, representing a 4.2% year-over-year growth, indicating a stable growth trend that may attract more investor interest.
- Performance Record: Over the past two years, LSI Industries has beaten EPS estimates 88% of the time and revenue estimates 100% of the time, a strong performance record that could further drive stock price appreciation.
- Estimate Revisions: Despite having no upward revisions and one downward revision for EPS and revenue estimates in the last three months, market confidence in the company's future performance remains strong, reflecting investor recognition of its long-term growth potential.
See More
