ACUITY INC, Stock Price, News & Analysis

Acuity Brands, Inc. (NYSE: AYI) will release its fiscal 2023 second-quarter earnings on April 4, 2023, at 6:00 a.m. (EST). This will be followed by a conference call at 8:00 a.m. (EST), led by CEO Neil Ashe. Investors can access the earnings release, webcast, and supplementary materials through the Investor Relations section of the company's website. Acuity Brands operates through two segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), focusing on innovative solutions in lighting and building management. The company is headquartered in Atlanta and employs over 13,000 people worldwide.

The Board of Directors of Acuity Brands (NYSE: AYI) declared a quarterly dividend of 13 cents per share, payable on February 14, 2023. Shareholders of record as of February 6, 2023 will receive this payment. This adjustment reflects a change in the quarterly board meeting schedule. Acuity Brands is a leading industrial technology company focusing on innovative products and services in lighting and intelligent spaces. The company aims for growth through capital deployment and market expansion, supported by over 13,000 associates globally.

Acuity Brands (AYI) reported a strong start to fiscal 2023 with net sales of $997.9 million, marking an 8% increase year-over-year. Despite a 7% drop in diluted EPS to $2.29, adjusted diluted EPS rose 15% to $3.29. Operating profit decreased by 5.4% to $108.9 million, with an adjusted operating profit increase of 5.3% to $140.1 million. The company generated $187 million in cash flow from operations and repurchased 0.5 million shares. The sale of its Sunoptics business resulted in $22.1 million in special charges.

Applied UV, Inc. (NASDAQ:AUVI) is set to double its size through the strategic acquisition of PURO Lighting, LLC and LED Supply Co., with a combined deal value of approximately $20 million, effective December 19, 2022. These acquisitions are expected to enhance distribution of FDA-cleared disinfection products, aiming for an estimated $18 million in additional revenue within 12 months. The company anticipates generating $45-$50 million in revenues for FY 2023, supported by potential cost synergies that could improve profitability.

Acuity Brands, Inc. (NYSE: AYI) has announced plans to release its fiscal 2023 first-quarter earnings on January 9, 2023, at 6:00 a.m. EST. The earnings call will be led by Neil Ashe, the Company's Chairman and CEO, at 8:00 a.m. EST. Investors can access the earnings release and supplemental presentation through the Investor Relations section of the Acuity Brands website. The Company continues to focus on innovative product development and market share growth across its business segments, including lighting and building management systems.

Acuity Brands (NYSE: AYI) announced its commitment to achieving Net Zero emissions by 2040, as outlined in its Fiscal Year 2022 EarthLIGHT Report. The company aims to minimize its carbon footprint by collaborating with the Science-Based Targets Initiative to establish interim targets for reducing Scope 1, 2, and 3 emissions. Significant accomplishments include plans to avoid 100 million metric tons of carbon emissions through innovative products and improvements in diversity and inclusion efforts. Acuity's focus on sustainability positions it well in a technology-driven market.

Acuity Brands, Inc. (NYSE: AYI) announced the retirement of Board members Dominic J. Pileggi and Ray M. Robinson, effective January 25, 2023. They will not seek reelection at the upcoming Annual Meeting. Chairman Neil M. Ashe expressed gratitude for their significant contributions and leadership. Pileggi joined the Board in September 2012, serving in various key roles, while Robinson has been a member since the company's founding in December 2001. Their retirements may signal a transition period for the Board as Acuity continues to innovate in lighting and building management solutions.

Included Health has announced the appointment of Michael Bender to its Board of Directors, succeeding Hill Ferguson, the former CEO of Doctor On Demand, who has stepped down as previously planned during the merger with Grand Rounds Health. Bender brings over 30 years of experience in healthcare and consumer-facing organizations, having held leadership roles at Eyemart Express and Walmart. Owen Tripp, the current CEO, expressed confidence in Bender's ability to tackle industry challenges and emphasized the company's mission to lead in integrated care delivery.

Acuity Brands reported record net sales of $1.11 billion for Q4 FY2022, a 12% increase, with diluted EPS at $3.48, up 28%. For the full year, net sales reached $4.01 billion, a 15.7% growth. Gross profit was $1.7 billion with a margin of 41.8%. Operating profit also increased to $509.7 million, a 19.2% rise. The company repurchased $512 million in shares during FY2022. Despite these results, gross profit margin slightly decreased year-over-year. Notably, net cash from operations fell by 22.6% as investments in working capital increased.