Acuity Brands, Inc. (NYSE:AYI) Q4 2021 Earnings Conference Call October 6, 2021 8:00 AM ET Company Participants Charlotte McLaughlin - Vice President, Investor Relations Neil Ashe - Chairman, President and CEO Karen Holcom - Senior Vice President and CFO Conference Call Participants Tim Wojs - Baird Ryan Merkel - William Blair Christopher Glynn - Oppenheimer Chris Snyder - UBS Jeff Sprague - Vertical Research John Walsh - Credit Suisse Operator Good day and thank you for standing by. Welcome to the Acuity B ...

Acuity Brands, Inc. (NYSE:AYI) Q3 2021 Earnings Conference Call July 1, 2021 9:00 AM ET Corporate Participants Charlotte McLaughlin - Vice President of Investor Relations Neil Ashe - Chairman, President and Chief Executive Officer Trevor Palmer - President, Lighting and Lighting Controls George Mcllwraith - Senior Vice President, Commercial Products Sarah Golish - Senior Vice President, Digital Lighting Networks Rick Earlywine - Senior Vice President, Architectural Products Jose Cordova - Vice President, Sa ...

Acquisitions and Business Realignment - The company completed a realignment of operations and structure in Q3 fiscal 2021, now reporting financial results in two segments: Acuity Brands Lighting and Lighting Controls (ABL) and Intelligent Spaces Group (ISG)[118] - The company signed a definitive agreement to purchase ams OSRAM's North American Digital Systems (DS) business on June 4, 2021, expected to close by July 1, 2021[119] - The company acquired Rockpile Ventures on May 18, 2021, to enhance its Edge AI capabilities[120] - The company acquired The Luminaires Group (TLG) on September 17, 2019, adding niche lighting brands to its portfolio[120] - The company acquired LocusLabs, Inc. on November 25, 2019, expanding its navigation software platform[121] Financial Performance and Cash Flow - The company's cash position increased to $593.5 million as of May 31, 2021, up $32.8 million from August 31, 2020[131] - The company generated $316.2 million in net cash flows from operations during the nine months ended May 31, 2021[131] - The company repurchased 3.3 million shares of common stock during the first nine months of fiscal 2021, with 4.4 million shares remaining under the repurchase program[126] - The company issued $500.0 million in 2.150% senior unsecured notes on November 10, 2020, with net proceeds of $493.9 million[133] - The company's net sales for the nine months ended May 31, 2021, were $2,046.7 million, with a gross profit of $889.1 million and net income of $204.7 million[137] - Consolidated stockholders' equity decreased by $88.4 million to $2.0 billion at May 31, 2021, from $2.1 billion at August 31, 2020, primarily due to stock repurchases and dividend payments[140] - Debt to total capitalization ratio increased to 19.6% at May 31, 2021, from 15.9% at August 31, 2020[140] - Net sales for the three months ended May 31, 2021 increased by $123.5 million (15.9%) to $899.7 million compared to $776.2 million in the prior-year period[144] - Net income for the three months ended May 31, 2021 increased by $25.3 million (41.9%) to $85.7 million compared to $60.4 million in the prior-year period[144] - Diluted earnings per share increased by 55.9% to $2.37 for the three months ended May 31, 2021, compared to $1.52 in the prior-year period[144] - Gross profit for the third quarter of fiscal 2021 increased by $59.0 million (18.0%) to $386.6 million, with gross profit margin increasing by 80 basis points to 43.0%[149] - Operating profit for the third quarter of fiscal 2021 increased by $35.1 million (42.3%) to $118.1 million, with operating profit margin increasing by 240 basis points to 13.1%[152] - Adjusted operating profit for the third quarter of fiscal 2021 increased by $31.9 million (30.4%) to $136.8 million, with adjusted operating profit margin increasing to 15.2%[152] - Adjusted diluted earnings per share increased by 42.8% to $2.77 for the three months ended May 31, 2021, compared to $1.94 in the prior-year period[147] - Net income for the third quarter of fiscal 2021 increased by $25.3 million, or 41.9%, to $85.7 million compared to $60.4 million in the prior-year period[155] - Diluted earnings per share for the three months ended May 31, 2021 increased by $0.85, or 55.9%, to $2.37 compared to $1.52 in the prior-year period[155] - Net sales for the nine months ended May 31, 2021 increased by 1.4% to $2.47 billion compared to $2.44 billion in the prior-year period[162] - Net income for the nine months ended May 31, 2021 increased by $33.6 million, or 19.2%, to $208.2 million compared to $174.6 million in the prior-year period[162] - Diluted earnings per share for the nine months ended May 31, 2021 increased by 28.6% to $5.66 compared to $4.40 in the prior-year period[162] - The effective income tax rate for the three months ended May 31, 2021 decreased to 21.5% compared to 23.1% in the prior-year period[154] - Net sales for the nine months ended May 31, 2021 increased by $33.2 million (1.4%) to $2.47 billion compared to $2.44 billion in the prior-year period[167] - Gross profit for the nine months ended May 31, 2021 increased by $28.4 million (2.8%) to $1.06 billion, with a gross profit margin of 42.8% compared to 42.2% in the prior-year period[168] - Operating profit for the nine months ended May 31, 2021 increased by $46.8 million (18.9%) to $294.8 million, with an operating profit margin of 11.9% compared to 10.2% in the prior-year period[171] - Adjusted operating profit for the nine months ended May 31, 2021 increased by $24.3 million (7.5%) to $349.9 million, with an adjusted operating profit margin of 14.2% compared to 13.4% in the prior-year period[171] - Net income for the nine months ended May 31, 2021 increased by $33.6 million (19.2%) to $208.2 million, with diluted earnings per share increasing by $1.26 (28.6%) to $5.66[175] - Adjusted net income for the nine months ended May 31, 2021 increased by $19.5 million (8.3%) to $254.0 million, with adjusted diluted earnings per share increasing by $0.99 (16.8%) to $6.90[175] - SD&A expenses for the nine months ended May 31, 2021 decreased by $8.1 million (1.1%) to $759.4 million, with adjusted SD&A expenses of $705.8 million (28.6% of net sales) compared to $702.9 million (28.9% of net sales) in the prior-year period[169] - Pre-tax special charges for the nine months ended May 31, 2021 were $1.5 million compared to $11.8 million in the prior-year period[170] Segment Performance - ABL net sales for the three months ended May 31, 2021 increased by 14.6% to $850.0 million compared to $741.6 million in the prior-year period[158] - ABL operating profit for the three months ended May 31, 2021 increased by $27.9 million, or 28.3%, to $126.5 million compared to $98.6 million in the prior-year period[158] - ISG net sales for the three months ended May 31, 2021 increased by 46.9% to $55.4 million compared to $37.7 million in the prior-year period[159] - ISG operating profit for the three months ended May 31, 2021 increased by $7.4 million to $7.2 million compared to a $0.2 million loss in the prior-year period[159] - ABL segment net sales for the nine months ended May 31, 2021 increased by $12.6 million (0.5%) to $2,340.4 million, with operating profit increasing by $22.9 million (7.5%) to $326.9 million[177] - ABL segment adjusted operating profit for the nine months ended May 31, 2021 increased by $19.5 million (5.8%) to $356.0 million, with an adjusted operating profit margin of 15.2% compared to 14.5% in the prior-year period[177] - ABL net sales for the nine months ended May 31, 2021 increased by 0.5% compared to the prior-year period, driven by higher sales volumes through independent and direct sales networks[178] - ABL operating profit for the nine months ended May 31, 2021 was $326.9 million, a 14.0% margin, up from $304.0 million (13.1% margin) in the prior-year period[178] - ISG net sales for the nine months ended May 31, 2021 increased by 20.2% to $139.5 million compared to $116.1 million in the prior-year period[179] - ISG operating profit for the nine months ended May 31, 2021 was $7.9 million, compared to a $2.3 million loss in the prior-year period[179] - Adjusted operating profit for ISG increased by $6.8 million to $19.6 million, a 53.1% increase compared to the prior-year period[179] Sales Channels and Market Trends - Sales through the independent sales network and direct sales network increased by 14% and 39%, respectively, while retail sales declined by 26%[148] - The company expects continued improvements in end markets but anticipates volatility in raw material costs and labor availability[180] - The company plans to continue investing in its business to become a larger, more dynamic company[180] Debt and Capital Structure - The company's long-term debt as of May 31, 2021, included $500.0 million of senior unsecured notes, with a 10% increase in market interest rates potentially decreasing their fair value by approximately $9.9 million[185] - The company had no borrowings outstanding under the Revolving Credit Facility or the Term Loan Facility as of May 31, 2021[185]

Acuity Brands, Inc. (NYSE:AYI) Q2 2021 Results Earnings Conference Call March 31, 2021 10:00 AM ET Company Participants Charlotte McLaughlin - Vice President, Investor Relations Neil Ashe - Chairman, President & Chief Executive Officer Karen Holcom - Senior Vice President & Chief Financial Officer Richard Reece - Executive Vice President & President of Acuity Brands Lighting Conference Call Participants John Walsh - Credit Suisse Ryan Merkel - William Blair Chris Snyder - UBS Jeffrey Sprague - Vertical Rese ...

Financial Data and Key Metrics Changes - Net sales for Q1 2021 were $792 million, a decrease of 5% compared to the prior year, primarily due to a 4% decrease in product prices and mix, and a 1% decrease in sales volume [11][12] - Gross profit margin remained consistent at 42%, despite lower sales, with reported operating profit of $86 million compared to $84 million in the prior year [14][15] - Diluted earnings per share increased by 9% to $1.57, while adjusted diluted EPS was $2.03, a decrease of $0.10 from the prior year [15][16] Business Line Data and Key Metrics Changes - Independent sales network net sales were $599 million, down 3% due to pandemic impacts [12] - Direct sales network experienced a 9.5% decline to $76 million, attributed to postponed large industrial projects [12] - Retail sales channel saw a 3% increase to $55 million, driven by higher demand for residential products [12] Market Data and Key Metrics Changes - The company noted broad disparity in performance across geographies, with sales regions ranging from up 15% to down 13% [56] - The backlog remains strong, with optimism for project releases as conditions improve [29] Company Strategy and Development Direction - The company plans to reorganize into two units: Acuity Brands Lighting and Intelligent Buildings, to better meet customer needs and enhance innovation [24] - Focus on digital transformation to improve customer-centric sales and operations, including enhancements to product catalog and communication with contractors [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for improvement in 2021, despite ongoing uncertainty in end markets [23] - The company is committed to maintaining gross margins and managing costs effectively while continuing to invest in product development [18][34] Other Important Information - The company repurchased 2.6 million shares for approximately $255 million, with a remaining authorization for 5.1 million shares [16][23] - The company successfully issued a $500 million bond at a 2.15% coupon rate to refinance existing debt [8][23] Q&A Session Summary Question: Commentary on the environment and backlog - Management noted consistent performance in the independent sales network and a strong backlog, with optimism for project releases despite pandemic-related delays [28][29] Question: Pricing and cost inflation outlook - Management indicated plans to manage price increases to offset rising input costs, particularly in steel and aluminum [33][34] Question: Margin outlook amidst commodity impacts - Management expressed confidence in maintaining gross profit margins despite commodity cost pressures, with proactive pricing strategies in place [44][46] Question: Share repurchase strategy - Management stated intentions to continue share repurchases opportunistically, depending on market conditions and stock price dislocations [47][49] Question: Stability in end markets - Management highlighted flexibility in product offerings to adapt to various end markets, with cautious optimism for recovery in 2021 [52][54]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ Form 10-K __________________________________________________________ (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31, 2020. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . _______________________ ...

Acuity Brands, Inc. (NYSE:AYI) Q4 2020 Earnings Conference Call October 8, 2020 10:00 AM ET Company Participants Pete Shannin - Vice President, Investor Relations, Corporate Development Neil Ashe - President and Chief Executive Officer Karen Holcom - Senior Vice President and Chief Financial Officer Richard Reece - Executive Vice President Conference Call Participants Tim Wojs - Baird Ryan Merkel - William Blair Christopher Glynn - Oppenheimer Deepa Raghavan - Wells Fargo Jeff Osborne - Cowen and Compa ...

Acuity Brands, Inc. (NYSE:AYI) Q3 2020 Earnings Conference Call June 30, 2020 10:00 AM ET Company Participants Pete Shannin - Vice President, Investor Relations and Corporate Development Neil Ashe - President and Chief Executive Officer Karen Holcom - Senior Vice President and Chief Financial Officer Richard Reece - Executive Vice President Conference Call Participants John Walsh - Credit Suisse Deepa Raghavan - Wells Fargo Securities, LLC. Christopher Glynn - Oppenheimer & Co Inc. Tim Wojs - Robert W. Bair ...