Welcome to our dedicated page for ACUITY INC, news (Ticker: AYI), a resource for investors and traders seeking the latest updates and insights on ACUITY INC, stock.
Acuity Brands Inc (AYI) delivers innovative lighting and intelligent building solutions for commercial and industrial applications worldwide. This dedicated news hub provides investors and industry professionals with centralized access to all official corporate announcements and market-relevant updates.
Track the company's latest developments through curated press releases covering financial results, product innovations, and strategic partnerships. Our repository ensures timely access to critical information about AYI's advancements in smart lighting controls, IoT-enabled systems, and sustainable building technologies.
Discover updates spanning Acuity Brands' core operations including architectural lighting solutions, energy-efficient product launches, and intelligent space management systems. The collection serves as an essential resource for monitoring the company's progress in merging industrial technology with next-generation building automation.
Bookmark this page for streamlined access to verified information about AYI's market activities. Check regularly for new developments that demonstrate the company's commitment to shaping the future of connected lighting ecosystems and intelligent commercial environments.
Acuity Brands (NYSE: AYI) has announced its plan to acquire KE2 Therm Solutions, a company specializing in intelligent refrigeration control solutions. This acquisition will extend Acuity's market reach into the commercial refrigeration sector, targeting the transition from analog to digital controls. The deal, expected to close in spring 2023, will integrate KE2 Therm into Acuity's Distech Controls within the Intelligent Spaces Group. Acuity aims to leverage KE2 Therm's technology to enhance customer access and unlock new opportunities, ultimately improving profitability through increased efficiency. Both companies will operate independently until the acquisition finalizes.
Acuity Brands reported net sales of $943.6 million for Q2 fiscal 2023, a 3.8% increase year-over-year. The company achieved a 21% rise in diluted EPS, reaching $2.57, while adjusted diluted EPS rose by 19% to $3.06. Operating profit grew by 9% to $111.5 million, with overall operating profit margin improving by 50 basis points to 11.8%. The Lighting and Lighting Controls segment generated $890.8 million in sales, up 3.2%, while the Intelligent Spaces Group saw a 16.4% increase to $58.2 million. Strong cash flow from operations totaled $306.4 million for the first half of the fiscal year.
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