Acuity Brands Reports Fiscal 2024 Fourth-Quarter and Full-Year Results

Core Insights - Acuity Brands, Inc. reported a 2% increase in net sales for Q4 2024, reaching $1.03 billion compared to the prior year [1] - The company achieved a diluted EPS of $3.77 for Q4 2024, marking a 43% increase year-over-year [3] - For the full fiscal year 2024, net sales totaled $3.84 billion, a decline of 2.8% from $3.95 billion in fiscal 2023 [4] Financial Performance - Q4 2024 operating profit was $157 million, up $47.3 million from the previous year, with an operating profit margin of 15.2%, an increase of approximately 430 basis points [2] - Adjusted operating profit for Q4 2024 was $178.5 million, reflecting a year-over-year increase of $16.2 million, with a margin of 17.3% [2] - Full-year operating profit for 2024 was $553.3 million, an increase of $79.9 million, with a margin of 14.4%, up 240 basis points from the prior year [4] Earnings and Cash Flow - Full-year diluted EPS was $13.44, a 25% increase compared to the prior year, while adjusted diluted EPS was $15.56, up 10.7% [5] - The company generated $619 million in cash flow from operations for fiscal 2024, a 7% increase from the previous year [10] Segment Performance - Acuity Brands Lighting and Lighting Controls (ABL) reported Q4 net sales of $955 million, a 1.1% increase year-over-year, with an operating profit of $161.5 million [6] - The Intelligent Spaces Group (ISG) achieved Q4 net sales of $83.9 million, a significant increase of 16.7% compared to the prior year [8] Capital Allocation - During fiscal 2024, the company repurchased approximately 454,000 shares for about $89 million [10] - Cash and cash equivalents at the end of fiscal 2024 were $845.8 million, up from $397.9 million the previous year [20]