Acuity Reports Fiscal 2025 Fourth-Quarter and Full-Year Results
Acuity Inc. (NYSE: AYI) reported strong fiscal Q4 2025 results with net sales increasing 17.1% to $1.2 billion. The company's adjusted diluted EPS grew 20.9% to $5.20, while reported EPS decreased 4.2% to $3.61. For the full fiscal year 2025, Acuity achieved net sales of $4.3 billion, up 13.1%, with adjusted diluted EPS rising 15.7% to $18.01.
The company's segments showed mixed performance, with ABL (Acuity Brands Lighting) reporting modest growth of 0.8% in Q4, while AIS (Acuity Intelligent Spaces) demonstrated substantial growth with Q4 sales increasing significantly. The company generated $601.4 million in operating cash flow and continued strategic investments through acquisitions, share repurchases, and dividend increases.
Acuity Inc. (NYSE: AYI) ha riportato risultati solidi del Q4 2025 fiscale con vendite nette aumentate del 17,1% a 1,2 miliardi di dollari. L'EPS diluito corretto è salito del 20,9% a 5,20 dollari, mentre l'EPS riportato è diminuito del 4,2% a 3,61 dollari. Per l'intero anno fiscale 2025, Acuity ha registrato vendite nette di 4,3 miliardi di dollari, in aumento del 13,1%, con un EPS diluito corretto in rialzo del 15,7% a 18,01 dollari.
I segmenti dell'azienda hanno mostrato una performance mista, con ABL (Acuity Brands Lighting) che ha riportato una modesta crescita dello 0,8% nel Q4, mentre AIS (Acuity Intelligent Spaces) ha registrato una crescita sostanziale con un significativo aumento delle vendite nel Q4. L'azienda ha generato 601,4 milioni di dollari di flusso di cassa operativo e ha continuato ad investire strategicameso tramite acquisizioni, riacquisti di azioni e aumenti dei dividendi.
Acuity Inc. (NYSE: AYI) informó resultados sólidos en el cuarto trimestre fiscal de 2025 con ventas netas aumentando un 17,1% hasta 1,2 mil millones de dólares. El BPA diluido ajustado creció un 20,9% hasta 5,20 dólares, mientras que el BPA reportado cayó un 4,2% a 3,61 dólares. Para el año fiscal completo 2025, Acuity logró ventas netas de 4,3 mil millones de dólares, un aumento de 13,1%, con el BPA diluido ajustado subiendo un 15,7% hasta 18,01 dólares.
Los segmentos de la empresa mostraron desempeño mixto, con ABL (Acuity Brands Lighting) reportando un modesto crecimiento del 0,8% en el Q4, mientras AIS (Acuity Intelligent Spaces) demostró un crecimiento sustancial con un aumento significativo de ventas en el Q4. La empresa generó 601,4 millones de dólares de flujo de efectivo operativo y continuó invirtiendo de forma estratégica a través de adquisiciones, recompras de acciones y aumentos de dividendos.
Acuity Inc. (NYSE: AYI) 회계연도 2025년 4분기 실적은 매출이 17.1% 증가해 12억 달러에 달했고, 조정 diluted EPS는 20.9% 상승해 5.20달러, 반면 보고된 EPS는 4.2% 감소해 3.61달러를 기록했습니다. 2025 회계연도 전체로는 매출이 43억 달러, 증가율 13.1%, 조정 희석 EPS는 상승 15.7%로 18.01달러에 도달했습니다.
회사의 부문은 엇갈린 성과를 보였으며, ABL(아퀴티 브랜드 라이팅)은 Q4에서 미미한 성장 0.8%을 기록했고, AIS(아퀴티 인텔리전트 스페이스)는 Q4 매출이 크게 증가하며 상당한 성장을 보였습니다. 회사는 영업현금흐름 6.014억 달러를 창출했고, 인수, 자사주 매입, 배당 증대 등을 통한 전략적 투자를 계속했습니다.
Acuity Inc. (NYSE: AYI) a déclaré des résultats solides pour le 4e trimestre fiscal 2025 avec un chiffre d'affaires net en hausse de 17,1% à 1,2 milliard de dollars. L'EPS dilué ajusté a augmenté de 20,9% à 5,20 dollars, tandis que l'EPS rapporté a diminué de 4,2% à 3,61 dollars. Pour l'ensemble de l'exercice 2025, Acuity a réalisé un chiffre d'affaires net de 4,3 milliards de dollars, en hausse de 13,1%, avec un EPS dilué ajusté en hausse de 15,7% à 18,01 dollars.
Les segments de l'entreprise ont affiché des performances mixtes, l'ABL (Acuity Brands Lighting) enregistrant une modeste croissance de 0,8% au Q4, tandis que l'AIS (Acuity Intelligent Spaces) a démontré une croissance substantielle avec une augmentation significative des ventes au Q4. L'entreprise a généré 601,4 millions de dollars de flux de trésorerie opérationnel et a poursuivi des investissements stratégiques par des acquisitions, des rachats d'actions et des augmentations de dividendes.
Acuity Inc. (NYSE: AYI) meldete starke Finanzergebnisse für das fiskale Q4 2025, wobei der Nettoumsatz um 17,1% auf 1,2 Milliarden US-Dollar zunahm. Der bereinigte verwässerte EPS wuchs um 20,9% auf 5,20 US-Dollar, während der berichtete EPS um 4,2% auf 3,61 US-Dollar zurückging. Für das gesamte Geschäftsjahr 2025 erzielte Acuity Nettoumsatz von 4,3 Milliarden US-Dollar, ein Anstieg um 13,1%, und der bereinigte verwässerte EPS stieg um 15,7% auf 18,01 US-Dollar.
Die Segmente des Unternehmens zeigten gemischte Leistungen, wobei ABL (Acuity Brands Lighting) im Q4 ein moderates Wachstum von 0,8% verzeichnete, während AIS (Acuity Intelligent Spaces) ein substantielles Wachstum mit signifikant steigenden Q4-Umsätzen demonstrierte. Das Unternehmen generierte 601,4 Millionen US-Dollar operativen Cashflow und setzte strategische Investitionen durch Akquisitionen, Aktienrückkäufe und Dividendenerhöhungen fort.
Acuity Inc. (NYSE: AYI) أبلغت عن نتائج قوية للربع الرابع المالي 2025 مع ارتفاع صافي المبيعات بنسبة 17.1% ليصل إلى 1.2 مليار دولار. نما EPS مخفف المعدل بنسبة 20.9% ليصل إلى 5.20 دولار، بينما انخفض EPS المبلغ عنه بنسبة 4.2% إلى 3.61 دولار. للسنة المالية الكاملة 2025، حققت Acuity صافي مبيعات قدره 4.3 مليار دولار، بزيادة 13.1%، وارتفع EPS المخفف المعدل بنسبة 15.7% ليصل إلى 18.01 دولار.
أظهرت أقسام الشركة أداءً متبايناً، مع ABL (إضاءة Acuity Brands Lighting) يحقق نموًا متواضعًا 0.8% في الربع الرابع، بينما AIS (أكويا إنتلجنت سبيسز) أظهر نموًا كبيرًا مع زيادة مبيعات كبيرة في الربع الرابع. بلغت الشركة 601.4 مليون دولار من التدفق النقدي التشغيلي وواصلت الاستثمارات الاستراتيجية من خلال الاستحواذات وإعادة شراء الأسهم وزيادات الأرباح.
Acuity Inc. (NYSE: AYI) 报告了2025财年第四季度的强劲业绩，净销售额上涨 17.1%至12亿美元。调整后摊薄每股收益（EPS）增长 20.9%至5.20美元，而报告的EPS下降 4.2%至3.61美元。2025财年全年，Acuity 实现 净销售额43亿美元，增长 13.1%，调整摊薄EPS 上涨 15.7%至18.01美元。
公司各业务板块表现参差不齐，ABL（Acuity Brands Lighting）在第四季度实现温和增长0.8%，而AIS（Acuity Intelligent Spaces）实现显著增长，第四季度销售大幅上涨。公司经营性现金流为 6.014亿美元，并通过并购、股权回购及派息增加等继续进行战略投资。
- Net sales increased 17.1% to $1.2B in Q4 2025
- Adjusted diluted EPS grew 20.9% to $5.20 in Q4 2025
- Full-year adjusted operating profit margin improved by 100 basis points to 17.7%
- Generated strong cash flow of $601.4M from operations
- Increased dividend by 13% to 17 cents per share
- AIS segment showed significant growth with substantial margin improvement
- Reported Q4 diluted EPS decreased 4.2% to $3.61
- Operating profit margin decreased 30 basis points in Q4
- Full-year operating profit margin declined 140 basis points to 13.0%
- Operating cash flow decreased by $17.8M compared to prior year
- Incurred $30.9M non-cash pension-settlement charge in Q4
Insights
Acuity delivers strong Q4 with 17% revenue growth and 21% adjusted EPS growth despite pension-related GAAP earnings decline.
Acuity Inc. delivered a robust fourth-quarter performance with
The company's profitability metrics tell a nuanced story. While GAAP operating margin decreased slightly by
This pension impact similarly affected earnings per share metrics, with GAAP diluted EPS declining
Segment performance reveals interesting growth dynamics. The Acuity Brands Lighting (ABL) division showed modest revenue growth of
Cash generation remains solid with
This performance demonstrates Acuity's execution capability in growing revenues while simultaneously expanding adjusted margins, positioning them well heading into fiscal 2026.
Strong Execution in the Fourth-Quarter Delivered Net Sales Growth and Improved Operating Performance
- Increased Fiscal Q4 2025 Net Sales
17% to$1.2B Compared to the Prior Year - Reported Fiscal Q4 2025 Diluted EPS of
$3.61 , down4% Over the Prior Year; Adjusted Diluted EPS of$5.20 , up21% Over the Prior Year - Delivered Fiscal 2025 Net Sales of
$4.3B , a13% Increase Compared to the Prior Year - Reported Fiscal 2025 Diluted EPS of
$12.53 , down7% Over the Prior Year; Adjusted Diluted EPS of$18.01 , up16% Over the Prior Year - Generated
$601M in Cash Flow from Operations in Fiscal 2025
ATLANTA, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Acuity Inc. (NYSE: AYI) (the "Company"), a market-leading industrial technology company, delivered net sales of
“Our fiscal 2025 fourth quarter performance was strong. We grew net sales, expanded our adjusted operating profit and adjusted operating profit margin, and increased our adjusted diluted earnings per share," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Inc. “Throughout fiscal 2025 we have demonstrated our ability to deliver growth and consistent operating performance that created stakeholder value and compounded shareholder wealth.”
Operating profit was
During the fourth quarter of fiscal 2025, we incurred a non-cash pension-settlement charge of
Diluted earnings per share was
Full-Year 2025 Summary
Net sales of
Operating profit was
Diluted earnings per share was
Segment Performance
Acuity Brands Lighting ("ABL")
Fourth-Quarter Results
ABL generated net sales of
ABL operating profit was
Full-Year Results
ABL generated net sales of
ABL operating profit was
Acuity Intelligent Spaces ("AIS")
Fourth-Quarter Results
AIS generated net sales of
AIS operating profit was
Full-Year Results
AIS generated net sales of
AIS operating profit was
Cash Flow and Capital Allocation
Net cash from operating activities was
During fiscal 2025, we closed the QSC acquisition and acquired M3 Innovation, increased our dividend by 13 percent to 17 cents per share, repurchased approximately 436,000 shares of common stock for a total of approximately
Form 10-K Filing
The independent registered public accounting firm’s audit report with respect to the Company’s fiscal year-end financial statements will not be issued until the Company files its annual report on Form 10-K, including its evaluation of the effectiveness of internal controls over financial reporting. Accordingly, the financial results reported in this earnings release are preliminary pending completion of the audit.
Today's Call Details
The Company will host a conference call at 8:00 a.m. (ET) today, Wednesday, October 1, 2025. Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Inc. will lead the call. The conference call and earnings release can be accessed via the Investor Relations section of the Company's website at www.investors.acuityinc.com. A replay of the call will also be posted to the Investor Relations website within two hours of the completion of the conference call and will be available on the website for a limited time.
About Acuity
Acuity Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces, light and more things to come. Through our two business segments, Acuity Brands Lighting (ABL) and Acuity Intelligent Spaces (AIS), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives.
We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and an audio, video and control platform. We focus on customer outcomes and drive growth and productivity to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals.
Acuity Inc. is based in Atlanta, Georgia, with operations across North America, Europe and Asia. The Company is powered by approximately 13,000 dedicated and talented associates. Visit us at www.acuityinc.com.
Non-GAAP Financial Measures
This news release includes the following non-generally accepted accounting principles ("GAAP") financial measures: "adjusted gross profit” and "adjusted gross profit margin” and “adjusted operating profit” and “adjusted operating profit margin” for total company and by segment; for total company only we additionally include: “adjusted net income;” “adjusted diluted EPS;” “earnings before interest, taxes, depreciation and amortization (“EBITDA”);” “EBITDA margin;" “adjusted EBITDA;” and “adjusted EBITDA margin.” These non-GAAP financial measures are provided to enhance the reader's overall understanding of our current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, and acquisition-related items.
We also provide “free cash flow” (“FCF”) for total company to enhance the reader’s understanding of our ability to generate additional cash from its business.
Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into our results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP.
The most directly comparable GAAP measures for adjusted gross profit and adjusted gross profit margin for total company and by segment are “gross profit” and “gross profit margin,” respectively, which include the impact of acquired profit in inventory. Adjusted gross profit margin is adjusted gross profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are “operating profit” and “operating profit margin,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, special charges, acquired profit in inventory and acquisition-related costs. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, special charges, acquired profit in inventory, acquisition-related costs, pension settlement loss and a one-time tax benefit. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for EBITDA is “net income,” which includes the impact of net interest expense, income taxes, depreciation and amortization of acquired intangible assets. EBITDA margin is EBITDA divided by net sales. The most directly comparable GAAP measure for adjusted EBITDA is “net income,” which includes the impact of net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, special charges, acquired profit in inventory, acquisition-related costs, and miscellaneous expense (income), net. Adjusted EBITDA margin is adjusted EBITDA divided by net sales. A reconciliation of each measure to the most directly comparable GAAP measure is available in the appendix of this news release, except for forward-looking measures of adjusted diluted EPS where a reconciliation to the corresponding GAAP measure is not available without unreasonable effort due to the variability, complexity, and limited visibility of certain assumptions within, as well as the methodology used to estimate, the 2025 non-GAAP outlook measure.
We define FCF as net cash provided by operating activities less purchases of property, plant and equipment. A calculation of this measure is available in this news release.
Our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our news release of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items.
Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements include, but are not limited to, statements that describe or relate to our plans, initiatives, projections, vision, goals, targets, commitments, expectations, objectives, prospects, strategies, or financial outlook, and the assumptions underlying or relating thereto. In some cases, we may use words such as “expect,” “believe,” “intend,” “anticipate,” “estimate,” “forecast,” “indicate,” “project,” “predict,” “plan,” “may,” “will,” “could,” “should,” “would,” “potential,” and words of similar meaning, as well as other words or expressions referencing future events, conditions, or circumstances, to identify forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on our current beliefs, expectations, and assumptions, which may not prove to be accurate, and are subject to known and unknown risks and uncertainties, assumptions, and other important factors, many of which are outside of our control and any of which could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties are discussed in our filings with the U.S. Securities and Exchange Commission, including our most recent annual report on Form 10-K (including, but not limited to, the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. This press release is not comprehensive, and for that reason, should be read in conjunction with such filings. You are cautioned not to place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, or otherwise.
| ACUITY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) | |||||
| August 31, | |||||
| 2025 | 2024 | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 422.5 | $ | 845.8 | |
| Accounts receivable, net | 593.9 | 563.0 | |||
| Inventories | 526.7 | 387.6 | |||
| Prepayments and other current assets | 108.4 | 75.1 | |||
| Total current assets | 1,651.5 | 1,871.5 | |||
| Property, plant, and equipment, net | 343.2 | 303.9 | |||
| Other long-term assets | 2,760.5 | 1,639.2 | |||
| Total assets | $ | 4,755.2 | $ | 3,814.6 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 454.5 | $ | 352.3 | |
| Other current liabilities | 391.3 | 335.6 | |||
| Total current liabilities | 845.8 | 687.9 | |||
| Long-term debt | 896.8 | 496.2 | |||
| Other long-term liabilities | 287.7 | 251.7 | |||
| Total stockholders’ equity | 2,724.9 | 2,378.8 | |||
| Total liabilities and stockholders’ equity | $ | 4,755.2 | $ | 3,814.6 | |
| ACUITY INC. CONDENSED STATEMENTS OF INCOME (In millions, except per-share data) | |||||||||||||
| Three Months Ended August 31, | Year Ended August 31, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Net sales | $ | 1,209.1 | $ | 1,032.3 | $ | 4,345.6 | $ | 3,841.0 | |||||
| Cost of products sold | 618.1 | 543.6 | 2,267.1 | 2,059.3 | |||||||||
| Gross profit | 591.0 | 488.7 | 2,078.5 | 1,781.7 | |||||||||
| Selling, distribution, and administrative expenses | 410.4 | 331.7 | 1,484.9 | 1,228.4 | |||||||||
| Special charges | — | — | 29.7 | — | |||||||||
| Operating profit | 180.6 | 157.0 | 563.9 | 553.3 | |||||||||
| Other expense: | |||||||||||||
| Interest expense (income), net | 7.0 | (3.5 | ) | 22.0 | (4.5 | ) | |||||||
| Miscellaneous expense, net | 35.9 | 8.0 | 41.7 | 9.2 | |||||||||
| Total other expense | 42.9 | 4.5 | 63.7 | 4.7 | |||||||||
| Income before income taxes | 137.7 | 152.5 | 500.2 | 548.6 | |||||||||
| Income tax expense | 23.7 | 33.6 | 103.6 | 126.0 | |||||||||
| Net income | $ | 114.0 | $ | 118.9 | $ | 396.6 | $ | 422.6 | |||||
| Earnings per share(1): | |||||||||||||
| Basic earnings per share | $ | 3.71 | $ | 3.86 | $ | 12.85 | $ | 13.68 | |||||
| Basic weighted average number of shares outstanding | 30.689 | 30.813 | 30.859 | 30.885 | |||||||||
| Diluted earnings per share | $ | 3.61 | $ | 3.77 | $ | 12.53 | $ | 13.44 | |||||
| Diluted weighted average number of shares outstanding | 31.533 | 31.512 | 31.641 | 31.445 | |||||||||
| Dividends declared per share | $ | 0.17 | $ | 0.15 | $ | 0.66 | $ | 0.58 | |||||
______________________________
(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.
| ACUITY INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) | |||||||
| Year Ended August 31, | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net income | $ | 396.6 | $ | 422.6 | |||
| Adjustments to reconcile net income to cash flows from operating activities: | |||||||
| Depreciation and amortization | 133.1 | 91.1 | |||||
| Share-based payment expense | 45.1 | 46.6 | |||||
| Asset impairments | 16.7 | 3.0 | |||||
| Other operating activities | 9.9 | 55.9 | |||||
| Net cash provided by operating activities | 601.4 | 619.2 | |||||
| Cash flows from investing activities: | |||||||
| Purchases of property, plant, and equipment | (68.4 | ) | (64.0 | ) | |||
| Acquisitions of businesses, net of cash acquired | (1,189.4 | ) | — | ||||
| Other investing activities | (22.9 | ) | (1.1 | ) | |||
| Net cash used for investing activities | (1,280.7 | ) | (65.1 | ) | |||
| Cash flows from financing activities: | |||||||
| Borrowings from term loan | 600.0 | — | |||||
| Repayments of term loan borrowings | (200.0 | ) | — | ||||
| Repurchases of common stock | (118.5 | ) | (88.7 | ) | |||
| Proceeds from stock option exercises and other | 28.4 | 13.5 | |||||
| Payments of taxes withheld on net settlement of equity awards | (24.6 | ) | (11.1 | ) | |||
| Dividends paid | (20.6 | ) | (18.2 | ) | |||
| Other financing activities | (9.3 | ) | — | ||||
| Net cash provided by (used for) financing activities | 255.4 | (104.5 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | 0.6 | (1.7 | ) | ||||
| Net change in cash and cash equivalents | (423.3 | ) | 447.9 | ||||
| Cash and cash equivalents at beginning of year | 845.8 | 397.9 | |||||
| Cash and cash equivalents at end of year | $ | 422.5 | $ | 845.8 | |||
ACUITY INC.
DISAGGREGATED NET SALES
(In millions)
The following table shows net sales by channel for the periods presented:
| Three Months Ended August 31, | ||||||||||||||
| 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||||
| Acuity Brands Lighting: | ||||||||||||||
| Independent sales network | $ | 702.4 | $ | 677.1 | $ | 25.3 | 3.7 | % | ||||||
| Direct sales network | 105.3 | 109.6 | (4.3 | ) | (3.9)% | |||||||||
| Retail sales | 43.4 | 42.6 | 0.8 | 1.9 | % | |||||||||
| Corporate accounts | 52.9 | 65.8 | (12.9 | ) | (19.6)% | |||||||||
| Original equipment manufacturer and other | 58.4 | 59.9 | (1.5 | ) | (2.5)% | |||||||||
| Total Acuity Brands Lighting | 962.4 | 955.0 | 7.4 | 0.8 | % | |||||||||
| Acuity Intelligent Spaces | 255.2 | 83.9 | 171.3 | 204.2 | % | |||||||||
| Eliminations | (8.5 | ) | (6.6 | ) | (1.9 | ) | 28.8 | % | ||||||
| Total | $ | 1,209.1 | $ | 1,032.3 | $ | 176.8 | 17.1 | % | ||||||
| Year Ended August 31, | ||||||||||||||
| 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||||
| Acuity Brands Lighting: | ||||||||||||||
| Independent sales network | $ | 2,646.8 | $ | 2,551.7 | $ | 95.1 | 3.7 | % | ||||||
| Direct sales network | 411.4 | 397.0 | 14.4 | 3.6 | % | |||||||||
| Retail sales | 170.7 | 190.3 | (19.6 | ) | (10.3)% | |||||||||
| Corporate accounts | 156.7 | 205.9 | (49.2 | ) | (23.9)% | |||||||||
| Original equipment manufacturer and other | 226.6 | 228.5 | (1.9 | ) | (0.8)% | |||||||||
| Total Acuity Brands Lighting | 3,612.2 | 3,573.4 | 38.8 | 1.1 | % | |||||||||
| Acuity Intelligent Spaces | 764.3 | 291.9 | 472.4 | 161.8 | % | |||||||||
| Eliminations | (30.9 | ) | (24.3 | ) | (6.6 | ) | 27.2 | % | ||||||
| Total | $ | 4,345.6 | $ | 3,841.0 | $ | 504.6 | 13.1 | % | ||||||
ACUITY INC.
Reconciliation of Non-U.S. GAAP Measures
The tables below reconcile certain GAAP financial measures to the corresponding non-GAAP measures for the Company as well as our reportable operating segments:
| (In millions except per share data) | Three Months Ended August 31, | ||||||||||||||||||
| 2025 | 2024 | Increase (Decrease) | Percent Change | ||||||||||||||||
| Net sales | $ | 1,209.1 | $ | 1,032.3 | $ | 176.8 | 17.1 | % | |||||||||||
| Operating profit (GAAP) | $ | 180.6 | $ | 157.0 | $ | 23.6 | 15.0 | % | |||||||||||
| Percent of net sales (GAAP) | 14.9 | % | 15.2 | % | (30 | ) | bps | ||||||||||||
| Add-back: Amortization of acquired intangible assets | 31.0 | 9.8 | |||||||||||||||||
| Add-back: Share-based payment expense | 11.1 | 11.7 | |||||||||||||||||
| Add-back: Acquisition-related costs(1) | 2.6 | — | |||||||||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 225.3 | $ | 178.5 | $ | 46.8 | 26.2 | % | |||||||||||
| Percent of net sales (Non-GAAP) | 18.6 | % | 17.3 | % | 130 | bps | |||||||||||||
| Net income (GAAP) | $ | 114.0 | $ | 118.9 | $ | (4.9 | ) | (4.1)% | |||||||||||
| Add-back: Amortization of acquired intangible assets | 31.0 | 9.8 | |||||||||||||||||
| Add-back: Share-based payment expense | 11.1 | 11.7 | |||||||||||||||||
| Add-back: Acquisition-related costs(1) | 2.6 | — | |||||||||||||||||
| Add back: Pension settlement loss | 30.9 | — | |||||||||||||||||
| Total pre-tax adjustments to net income | 75.6 | 21.5 | |||||||||||||||||
| Income tax effects | (17.4 | ) | (4.9 | ) | |||||||||||||||
| Less: One-time tax benefit | (8.2 | ) | — | ||||||||||||||||
| Adjusted net income (Non-GAAP) | $ | 164.0 | $ | 135.5 | $ | 28.5 | 21.0 | % | |||||||||||
| Diluted earnings per share (GAAP)(2) | $ | 3.61 | $ | 3.77 | $ | (0.16 | ) | (4.2)% | |||||||||||
| Adjusted diluted earnings per share (Non-GAAP)(2) | $ | 5.20 | $ | 4.30 | $ | 0.90 | 20.9 | % | |||||||||||
| Net income (GAAP) | $ | 114.0 | $ | 118.9 | $ | (4.9 | ) | (4.1)% | |||||||||||
| Percent of net sales (GAAP) | 9.4 | % | 11.5 | % | (210 | ) | bps | ||||||||||||
| Interest expense (income), net | 7.0 | (3.5 | ) | ||||||||||||||||
| Income tax expense | 23.7 | 33.6 | |||||||||||||||||
| Depreciation | 15.4 | 12.8 | |||||||||||||||||
| Amortization | 31.0 | 9.8 | |||||||||||||||||
| EBITDA (Non-GAAP) | 191.1 | 171.6 | 19.5 | 11.4 | % | ||||||||||||||
| Percent of net sales (Non-GAAP) | 15.8 | % | 16.6 | % | (80 | ) | bps | ||||||||||||
| Share-based payment expense | 11.1 | 11.7 | |||||||||||||||||
| Miscellaneous expense, net | 35.9 | 8.0 | |||||||||||||||||
| Acquisition-related costs(1) | 2.6 | — | |||||||||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 240.7 | $ | 191.3 | $ | 49.4 | 25.8 | % | |||||||||||
| Percent of net sales (Non-GAAP) | 19.9 | % | 18.5 | % | 140 | bps | |||||||||||||
______________________________
(1) Acquisition-related items include professional fees.
(2) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.
| (In millions) | Three Months Ended August 31, | ||||||||||||||
| Acuity Brands Lighting | 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||||
| Net sales | $ | 962.4 | $ | 955.0 | $ | 7.4 | 0.8 | % | |||||||
| Gross profit (GAAP) | $ | 439.8 | $ | 439.0 | $ | 0.8 | 0.2 | % | |||||||
| Gross profit margin (GAAP) | 45.7 | % | 46.0 | % | (30 | ) | bps | ||||||||
| Operating profit (GAAP) | $ | 183.0 | $ | 161.5 | $ | 21.5 | 13.3 | % | |||||||
| Add-back: Amortization of acquired intangible assets | 6.2 | 6.5 | |||||||||||||
| Add-back: Share-based payment expense | 4.4 | 3.9 | |||||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 193.6 | $ | 171.9 | $ | 21.7 | 12.6 | % | |||||||
| Operating profit margin (GAAP) | 19.0 | % | 16.9 | % | 210 | bps | |||||||||
| Adjusted operating profit margin (Non-GAAP) | 20.1 | % | 18.0 | % | 210 | bps | |||||||||
| (In millions) | Three Months Ended August 31, | ||||||||||||||
| Acuity Intelligent Spaces | 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||||
| Net sales | $ | 255.2 | $ | 83.9 | $ | 171.3 | 204.2 | % | |||||||
| Gross profit (GAAP) | $ | 151.2 | $ | 49.8 | $ | 101.4 | 203.6 | % | |||||||
| Gross profit margin (GAAP) | 59.2 | % | 59.4 | % | (20 | ) | bps | ||||||||
| Operating profit (GAAP) | $ | 28.0 | $ | 16.7 | $ | 11.3 | 67.7 | % | |||||||
| Add-back: Amortization of acquired intangible assets | 24.8 | 3.3 | |||||||||||||
| Add-back: Share-based payment expense | 1.8 | 1.5 | |||||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 54.6 | $ | 21.5 | $ | 33.1 | 154.0 | % | |||||||
| Operating profit margin (GAAP) | 11.0 | % | 19.9 | % | (890 | ) | bps | ||||||||
| Adjusted operating profit margin (Non-GAAP) | 21.4 | % | 25.6 | % | (420 | ) | bps | ||||||||
| (In millions, except per share data) | Year Ended August 31, | ||||||||||||||||||
| 2025 | 2024 | Increase (Decrease) | Percent Change | ||||||||||||||||
| Net sales | $ | 4,345.6 | $ | 3,841.0 | $ | 504.6 | 13.1 | % | |||||||||||
| Gross profit (GAAP) | $ | 2,078.5 | $ | 1,781.7 | $ | 296.8 | 16.7 | % | |||||||||||
| Percent of net sales (GAAP) | 47.8 | % | 46.4 | % | 140 | bps | |||||||||||||
| Add-back: Acquired profit in inventory | 29.6 | — | |||||||||||||||||
| Adjusted gross profit (Non-GAAP) | $ | 2,108.1 | $ | 1,781.7 | $ | 326.4 | 18.3 | % | |||||||||||
| Percent of net sales (Non-GAAP) | 48.5 | % | 46.4 | % | 210 | bps | |||||||||||||
| Operating profit (GAAP) | $ | 563.9 | $ | 553.3 | $ | 10.6 | 1.9 | % | |||||||||||
| Percent of net sales (GAAP) | 13.0 | % | 14.4 | % | (140 | ) | bps | ||||||||||||
| Add-back: Acquired profit in inventory | 29.6 | — | |||||||||||||||||
| Add-back: Amortization of acquired intangible assets | 76.5 | 39.7 | |||||||||||||||||
| Add-back: Share-based payment expense | 45.1 | 46.6 | |||||||||||||||||
| Add-back: Acquisition-related costs(1) | 23.8 | — | |||||||||||||||||
| Add-back: Special charges | 29.7 | — | |||||||||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 768.6 | $ | 639.6 | $ | 129.0 | 20.2 | % | |||||||||||
| Percent of net sales (Non-GAAP) | 17.7 | % | 16.7 | % | 100 | bps | |||||||||||||
| Net income (GAAP) | $ | 396.6 | $ | 422.6 | $ | (26.0 | ) | (6.2) % | |||||||||||
| Add-back: Acquired profit in inventory | 29.6 | — | |||||||||||||||||
| Add-back: Amortization of acquired intangible assets | 76.5 | 39.7 | |||||||||||||||||
| Add-back: Share-based payment expense | 45.1 | 46.6 | |||||||||||||||||
| Add-back: Acquisition-related costs(1) | 23.8 | — | |||||||||||||||||
| Add-back: Special charges | 29.7 | — | |||||||||||||||||
| Add back: Pension settlement loss | 30.9 | — | |||||||||||||||||
| Total pre-tax adjustments to net income | 235.6 | 86.3 | |||||||||||||||||
| Income tax effect | (54.2 | ) | (19.8 | ) | |||||||||||||||
| Less: One-time tax benefit | (8.2 | ) | — | ||||||||||||||||
| Adjusted net income (Non-GAAP) | $ | 569.8 | $ | 489.1 | $ | 80.7 | 16.5 | % | |||||||||||
| Diluted earnings per share (GAAP)(2) | $ | 12.53 | $ | 13.44 | $ | (0.91 | ) | (6.8) % | |||||||||||
| Adjusted diluted earnings per share (Non-GAAP)(2) | $ | 18.01 | $ | 15.56 | $ | 2.45 | 15.7 | % | |||||||||||
| Net income (GAAP) | $ | 396.6 | $ | 422.6 | $ | (26.0 | ) | (6.2) % | |||||||||||
| Percent of net sales (GAAP) | 9.1 | % | 11.0 | % | (190 | ) | bps | ||||||||||||
| Interest expense (income), net | 22.0 | (4.5 | ) | ||||||||||||||||
| Income tax expense | 103.6 | 126.0 | |||||||||||||||||
| Depreciation | 56.6 | 51.4 | |||||||||||||||||
| Amortization | 76.5 | 39.7 | |||||||||||||||||
| EBITDA (Non-GAAP) | 655.3 | 635.2 | 20.1 | 3.2 | % | ||||||||||||||
| Percent of net sales (Non-GAAP) | 15.1 | % | 16.5 | % | (140 | ) | bps | ||||||||||||
| Share-based payment expense | 45.1 | 46.6 | |||||||||||||||||
| Miscellaneous expense, net | 41.7 | 9.2 | |||||||||||||||||
| Special charges | 29.7 | — | |||||||||||||||||
| Acquisition-related costs(1) | 23.8 | — | |||||||||||||||||
| Acquired profit in inventory | 29.6 | — | |||||||||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 825.2 | $ | 691.0 | $ | 134.2 | 19.4 | % | |||||||||||
| Percent of net sales (Non-GAAP) | 19.0 | % | 18.0 | % | 100 | bps | |||||||||||||
______________________________
(1) Acquisition-related items include professional fees.
(2) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.
| (In millions) | Year Ended August 31, | |||||||||||||
| Acuity Brands Lighting | 2025 | 2024 | Increase (Decrease) | Percent Change | ||||||||||
| Net sales | $ | 3,612.2 | $ | 3,573.4 | $ | 38.8 | 1.1 | % | ||||||
| Gross profit (GAAP) | $ | 1,654.5 | $ | 1,612.5 | $ | 42.0 | 2.6 | % | ||||||
| Gross profit margin (GAAP) | 45.8 | % | 45.1 | % | 70 | bps | ||||||||
| Operating profit (GAAP) | $ | 590.6 | $ | 582.8 | $ | 7.8 | 1.3 | % | ||||||
| Add-back: Amortization of acquired intangible assets | 25.2 | 26.2 | ||||||||||||
| Add-back: Share-based payment expense | 16.8 | 15.2 | ||||||||||||
| Add-back: Special charges | 29.7 | — | ||||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 662.3 | $ | 624.2 | $ | 38.1 | 6.1 | % | ||||||
| Operating profit margin (GAAP) | 16.4 | % | 16.3 | % | 10 | bps | ||||||||
| Adjusted operating profit margin (Non-GAAP) | 18.3 | % | 17.5 | % | 80 | bps | ||||||||
| (In millions) | Year Ended August 31, | ||||||||||||||
| Acuity Intelligent Spaces | 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||||
| Net sales | $ | 764.3 | $ | 291.9 | $ | 472.4 | 161.8 | % | |||||||
| Gross profit (GAAP) | $ | 424.0 | $ | 169.2 | $ | 254.8 | 150.6 | % | |||||||
| Add-back: Acquired profit in inventory | 29.6 | — | |||||||||||||
| Adjusted gross profit (Non-GAAP) | $ | 453.6 | $ | 169.2 | $ | 284.4 | 168.1 | % | |||||||
| Gross profit margin (GAAP) | 55.5 | % | 58.0 | % | (250 | ) | bps | ||||||||
| Adjusted gross profit margin (Non-GAAP) | 59.3 | % | 58.0 | % | 130 | bps | |||||||||
| Operating profit margin (GAAP) | $ | 76.1 | $ | 43.6 | $ | 32.5 | 74.5 | % | |||||||
| Add-back: Amortization of acquired intangible assets | 51.3 | 13.5 | |||||||||||||
| Add-back: Share-based payment expense | 7.3 | 6.3 | |||||||||||||
| Add-back: Acquired profit in inventory | 29.6 | — | 29.6 | NM | |||||||||||
| Adjusted operating profit (Non-GAAP) | $ | 164.3 | $ | 63.4 | $ | 100.9 | 159.1 | % | |||||||
| Operating profit margin (GAAP) | 10.0 | % | 14.9 | % | (490 | ) | bps | ||||||||
| Adjusted operating profit margin (Non-GAAP) | 21.5 | % | 21.7 | % | (20 | ) | bps | ||||||||
| (In millions) | Year Ended August 31, | |||||||||||
| 2025 | 2024 | Increase (Decrease) | Percent Change | |||||||||
| Net cash provided by operating activities (GAAP) | $ | 601.4 | $ | 619.2 | $ | (17.8 | ) | (2.9)% | ||||
| Less: Purchases of property, plant, and equipment | (68.4 | ) | (64.0 | ) | ||||||||
| Free cash flow (Non-GAAP) | $ | 533.0 | $ | 555.2 | $ | (22.2 | ) | (4.0)% | ||||
Investor Contact:
Charlotte McLaughlin
Vice President, Investor Relations
(404) 853-1456
investorrelations@acuityinc.com
Media Contact:
April Appling
Senior Vice President, Corporate Communications
corporatecommunications@acuityinc.com
FAQ
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