Acuity Brands Reports Fiscal 2025 First-Quarter Results

Core Insights - Acuity Brands, Inc. reported net sales of $951.6 million for the first quarter of fiscal 2025, reflecting a year-over-year increase of $16.9 million, or 1.8% [2][9] - The company achieved an operating profit of $133.3 million, a slight increase of $0.4 million, or 0.3% compared to the previous year [3][9] - Adjusted diluted earnings per share rose to $3.97, marking an increase of $0.25, or 6.7% from $3.72 in the prior year [4][9] Financial Performance - The first quarter of fiscal 2025 saw an adjusted operating profit of $158.7 million, up $4.8 million, or 3.1% from the previous year [3][9] - The adjusted operating profit margin improved to 16.7%, an increase of 20 basis points year-over-year [3][9] - Net cash from operating activities was reported at $132.2 million for the first three months of fiscal 2025 [10] Segment Performance - Acuity Brands Lighting generated net sales of $886.0 million, an increase of $9.6 million, or 1.1% compared to the prior year [5][29] - Acuity Intelligent Spaces reported net sales of $73.5 million, reflecting a significant increase of $9.3 million, or 14.5% year-over-year [7][29] - Operating profit for Acuity Brands Lighting was $143.3 million, a decrease of $0.5 million, or 0.3% compared to the prior year [6][29] Acquisition Details - The company completed the acquisition of QSC, LLC effective January 1, 2025, for a gross purchase price of $1.215 billion [11][9] - This acquisition is expected to enhance Acuity's capabilities in cloud-manageable audio, video, and control solutions [11] Cash Flow and Capital Allocation - The company repurchased approximately 17,000 shares of common stock for about $5 million during the quarter [10] - Cash and cash equivalents at the end of the period were reported at $935.6 million, up from $845.8 million at the beginning of the period [10][28]