Acuity Brands Reports Solid Q1 Performance

By Tamara Parker • Wednesday, January 08 15:21 • Permanent Link

Acuity Brands, Inc. has reported its fiscal 2025 first-quarter results, showing solid performance with an increase in net sales and earnings per share (EPS) expansion. The company's net sales reached $951.6 million, marking a 1.8 percent increase compared to the prior year. Operating profit was $133.3 million, a 0.3 percent increase, with an operating profit margin of 14.0 percent, down 20 basis points from the prior year. Adjusted operating profit was $158.7 million, up 3.1 percent, with an adjusted operating profit margin of 16.7 percent, up 20 basis points from the prior year.

Diluted EPS was reported at $3.35, a 4.4 percent increase from the prior year. Adjusted diluted EPS was $3.97, reflecting a 6.7 percent increase from the prior year's $3.72. Acuity Brands Lighting segment generated net sales of $886.0 million, a 1.1 percent increase from the prior year. Operating profit for this segment was $143.3 million, down 0.3 percent, with an operating profit margin of 16.2 percent, down 20 basis points from the prior year. Adjusted operating profit for this segment was $153.5 million, down 0.2 percent, with an adjusted operating profit margin of 17.3 percent, down 20 basis points from the prior year.

Acuity Intelligent Spaces segment saw an increase in net sales to $73.5 million, a growth of 14.5 percent from the prior year. This segment's operating profit was $10.8 million, a significant increase from the prior year, with an operating profit margin of 14.7 percent, up 640 basis points from the prior year. Adjusted operating profit for this segment was $15.4 million, a notable increase from the prior year, with an adjusted operating profit margin of 21.0 percent, up 500 basis points from the prior year.

The company also completed the acquisition of QSC, LLC effective January 1, 2025. The gross purchase price was $1.215 billion, or $1.1 billion net of approximately $100 million in present value of expected tax benefits. Post-acquisition, the company reported a net cash from operating activities of $132.2 million for the first three months of fiscal 2025. Additionally, during the quarter, the company repurchased approximately 17,000 shares of common stock for a total of approximately $5 million.

Following these announcements, the company's shares moved 1.9%, and are now trading at a price of $309.52. Check out the company's full 8-K submission here.

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