LSI Industries delivered a solid Q3 2025 with 22% year-over-year revenue growth to $132.5 million, led by Display Solutions, which surged 70% year over year ( organic 15% ) and supported by ongoing EMI integration. However, margins were pressured by manufacturing and logistics inefficiencies driven by choppy schedules and a higher EMI mix, resulting in EBITDA of $11.3 million and net income of $3.88 million (EPS $0.13). The quarter showcased a notable acceleration in large-project activity in Lighting and a backlog that was 15% above the prior year. Management reaffirmed a plan to stabilize scheduling, complete Canada Best Store Fixtures integration, and leverage onshoring and tariff management to mitigate external headwinds under the Fast Forward strategy. The company also highlighted robust cross-selling opportunities between Lighting and Display Solutions and continued M&A activity oriented toward both incremental and transformational acquisitions.