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Core Insights - The company reported solid second-quarter results for fiscal 2026, with revenue flat year over year at $147 million, while profitability and free cash flow improved [5][16]. - The Display Solutions segment saw a slight revenue decline year over year but improved order trends and backlog, particularly in the refueling, convenience store, and casual dining sectors [1][3][21]. - The Lighting segment achieved a 15% year-over-year sales growth, marking the third consecutive quarter of double-digit growth, driven by new product introductions and strong project shipments [2][17]. Display Solutions - The Display Solutions segment experienced a year-over-year revenue decline due to strong prior-year comparisons, but orders improved sequentially and were up year over year, indicating a healthier backlog [1][3]. - The company is expanding its presence beyond quick-serve restaurants into casual dining and premium food services, with project values per site ranging from $250,000 to $1 million [6][19]. - The grocery vertical has returned to normalized demand levels after a previous surge, with Q2 orders increasing double digits year over year, resulting in a strong book-to-bill ratio of 1.2 [20][19]. Lighting - The Lighting segment reported a 15% year-over-year sales growth, following an 18% growth in the first quarter, with adjusted operating income increasing by 29% [2][17]. - The growth in Lighting is attributed to the addition of aluminum poles to the product line, increased large project shipments, and a successful national account strategy [2][17]. - Orders in the Lighting segment were up approximately 10% year over year, contributing to a book-to-bill ratio above one, indicating continued confidence in future performance [2][17]. Financial Performance - Adjusted EBITDA increased year over year to $13.4 million, with free cash flow strong at $23 million, allowing the company to reduce total debt by $22.7 million during the quarter [12][13][16]. - The company ended the quarter with a net leverage ratio of 0.4, providing significant capital allocation flexibility for future investments and acquisitions [13][16]. - The company expects to maintain above-market growth, supported by improving order trends and backlog across key vertical markets [14][55]. Strategic Initiatives - The company is focused on integrating its teams and breaking down silos to enhance cross-selling opportunities and improve operational efficiency [9][10]. - There is a commitment to talent management and empowering employees to foster a unified organizational culture [8][11]. - The company is optimistic about the potential in the casual dining and premium food services sectors, with larger project sizes and cross-selling opportunities expected to drive growth [38][62]. Market Outlook - The company anticipates continued elevated activity levels into fiscal and calendar year 2027, driven by strong customer engagement and planning discussions [7][22]. - The competitive environment in the convenience store and grocery markets is seen as favorable, with new entrants and existing players investing in customer experience and branding [56][59]. - The company is exploring M&A opportunities, with a focus on cultural fit and operational synergies, while remaining selective in its acquisition strategy [59][60].

Core Viewpoint - Orion Energy Systems, Inc. will host a conference call and webcast to discuss its fiscal 2026 third quarter results on February 5, 2026, at 10:00 a.m. ET, with results being released prior to market opening on the same day [1]. Group 1: Conference Call and Webcast Details - The conference call is scheduled for Thursday, February 5, 2026, at 10:00 a.m. ET [2]. - Participants must pre-register to receive dial-in information through the provided registration link [2]. - A webcast and replay of the call will be available at a specified URL [2]. Group 2: Company Overview - Orion Energy Systems specializes in energy-efficient LED lighting, EV charging solutions, and electrical maintenance services [3]. - The company focuses on turnkey design-through-installation solutions for large national customers and projects through ESCO and distribution partners [3]. - Orion aims to help customers achieve their business, financial, and environmental goals with high-quality, innovative solutions and reliable customer service [3]. Group 3: Sustainability Commitment - Orion is dedicated to operating responsibly across all areas of its organization, emphasizing sustainability and governance priorities [4].

Core Insights - Nemo Group has sold a majority stake in Driade to Kettal Group while retaining a minority share to maintain the brand's Italian craftsmanship and heritage [1][2] - Kettal aims to relaunch Driade with a Mediterranean-centered design vision, enhancing its global competitiveness [2][4] - The collaboration is framed as a partnership based on mutual respect and cultural synergy, aiming to restore Driade's position in the international design scene [5][8] Company Background - Driade was founded in Milan in 1968 by Enrico Astori, Antonia Astori, and Adelaide Acerbi, with contributions from notable designers like Enzo Mari and Nanda Vigo [3] - Kettal, established in 1964, transitioned from producing aluminum camping gear to becoming a leader in outdoor furniture [6] - Nemo Group, primarily a lighting company, ventured into furniture with the acquisition of Driade, previously owned by Italian Creation Group [6] Strategic Goals - Kettal's CEO Alex Alorda emphasizes the importance of collaboration to drive innovation through cultural exchange [5] - The partnership aims to overcome geographic and cultural barriers to promote a design culture [8]

DURHAM, N.C.--(BUSINESS WIRE)---- $PENG #BlizzardLighting--Cree LED and Blizzard Lighting today announced a mutually beneficial settlement resolving a patent infringement dispute involving Cree LED's patents. ...

Core Insights - Acuity (AYI) reported $1.14 billion in revenue for the quarter ended November 2025, marking a year-over-year increase of 20.2% and a surprise of +0.53% over the Zacks Consensus Estimate [1] - The company's EPS for the same period was $4.69, compared to $3.97 a year ago, but did not meet the consensus EPS estimate of $4.52 [1] Financial Performance - Acuity's net sales by channel for Acuity Intelligent Spaces reached $257.4 million, exceeding the four-analyst average estimate of $243.9 million, with a year-over-year change of +250.2% [4] - Net sales for Acuity Brands Lighting totaled $895.1 million, slightly below the estimated $902.29 million, representing a +1% change compared to the year-ago quarter [4] - Adjusted operating profit for Acuity Intelligent Spaces was $56.6 million, surpassing the average estimate of $46.51 million [4] - Adjusted operating profit for Acuity Brands Lighting was $159.8 million, compared to the average estimate of $165.89 million [4] Stock Performance - Acuity's shares have returned -0.7% over the past month, while the Zacks S&P 500 composite has seen a +0.9% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Acuity reported a strong start to fiscal 2026 with significant sales growth, expanding profitability, and higher adjusted earnings per share despite a tepid lighting market environment [2][6] Quarterly Results and Margin Expansion - Total net sales reached $1.1 billion, an increase of $192 million, or 20%, year-over-year, driven by growth in both business segments and including three months of QSC sales [3] - Adjusted operating profit rose to $196 million, up $38 million, or 24%, compared to the previous year, with an adjusted operating profit margin expanding to 17.2%, an increase of 50 basis points [3][6] - Adjusted diluted earnings per share increased to $4.69, up $0.72, or 18%, year-over-year [3][6] Segment Performance - In the Acuity Brands Lighting (ABL) segment, sales were $895 million, up $9 million, or 1%, primarily due to growth in the independent sales network and influenced by elevated backlog from accelerated orders ahead of price increases [4] - ABL adjusted operating profit increased by $6 million to $160 million, attributed to efforts to lower operating expenses, with an adjusted operating profit margin of 17.9%, up 60 basis points from the prior year [5] Overall Performance and Outlook - Acuity's total net sales rose approximately 20% to $1.1 billion, with adjusted operating profit increasing to $196 million and adjusted diluted EPS climbing to $4.69, alongside overall margin expansion of 50 basis points [6] - The lighting segment remained nearly flat at $895 million (+1%), while Acuity Intelligence Spaces surged to $257 million, up $184 million, driven by three months of QSC contribution and higher AIS margins of 22% [6] - Operating cash flow was $141 million, with the company repurchasing approximately $28 million of stock and repaying $100 million on the QSC term loan, totaling $300 million of $600 million repaid, while management described the lighting market as tepid and noted that backlog is normalizing [6]

Financial Data and Key Metrics Changes - The company reported net sales of $1.1 billion, which is $192 million, or 20% higher than the previous year [13] - Adjusted operating profit increased by $38 million, or 24%, to $196 million, with an adjusted operating profit margin expanding to 17.2%, an increase of 50 basis points from the prior year [13] - Adjusted diluted earnings per share rose by $0.72, or 18%, to $4.69 [13] Business Line Data and Key Metrics Changes - Acuity Brands Lighting (ABL) achieved sales of $895 million, a slight increase of $9 million, or 1%, primarily due to growth in the independent sales network [14] - Adjusted operating profit for ABL increased by $6 million to $160 million, with an adjusted operating profit margin of 17.9%, up 60 basis points compared to the prior year [14] - Acuity Intelligence Spaces (AIS) reported sales of $257 million, an increase of $184 million, benefiting from three months of QSC sales [15] - AIS adjusted operating profit was $57 million, with an adjusted operating profit margin of 22%, up 100 basis points compared to the prior year [16] Market Data and Key Metrics Changes - The lighting market remains tepid, with the company noting that the market appears to be waiting for clarity around interest rates, inflation, and policy [11] - The AIS business is recognized for its strong product portfolio, with several awards received during the quarter [10][11] Company Strategy and Development Direction - The company is focused on increasing product vitality, elevating service levels, and using technology to improve and differentiate products [5] - The strategy includes cross-selling opportunities between ABL and AIS, particularly in fueling and office markets [27] - The company aims to control what it can and is confident in the long-term performance of both lighting and spaces businesses [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive margins at ABL, targeting 50-100 basis points of operating profit margin improvement per year [21] - The company is optimistic about the long-term opportunities in both ABL and AIS, with disruptive technologies taking market share [59] - Management acknowledged the challenges in the lighting market but noted that they are holding or accelerating their market position [46] Other Important Information - The company generated $141 million in cash flow from operations, which was $9 million higher than the same period in the previous year [16] - The company repurchased over 77,000 shares at an average price of around $357 and repaid $100 million of its term loan during the quarter [17] Q&A Session Summary Question: Gross margin seasonality and future expectations - Management acknowledged the impact of tariffs on gross margins and expressed confidence in the ability to drive margins at ABL over the long term [20][21] Question: Operating expenses and productivity investments - Management indicated that the muted step-down in operating expenses from Q4 to Q1 was due to prior cost-cutting measures [22] Question: Cross-sell opportunities and product portfolio gaps - Management emphasized that cross-sell opportunities should be driven by customer demand rather than aggressive pushing of products [27] Question: Backlog normalization and future growth - Management confirmed that historical seasonality would be skewed due to elevated backlog levels, with expectations of more normal seasonality in Q2 [32] Question: Tariffs and potential changes in pricing - Management discussed the uncertainty surrounding tariffs and the potential implications for pricing strategies [51][52]

Financial Data and Key Metrics Changes - The company reported net sales of $1.1 billion, which is $192 million, or 20% higher than the previous year [15] - Adjusted operating profit increased by $38 million, or 24%, to $196 million, with an adjusted operating profit margin of 17.2%, up 50 basis points from the prior year [15] - Adjusted diluted earnings per share rose to $4.69, an increase of $0.72, or 18% over the prior year [15] Business Line Data and Key Metrics Changes - Acuity Brands Lighting (ABL) achieved sales of $895 million, a slight increase of $9 million, or 1% year-over-year, primarily due to growth in the independent sales network [16] - Adjusted operating profit for ABL increased by $6 million to $160 million, with an adjusted operating profit margin of 17.9%, up 60 basis points compared to the prior year [16] - Acuity Intelligent Spaces (AIS) reported sales of $257 million, an increase of $184 million, benefiting from the inclusion of three months of QSC sales [17] - AIS adjusted operating profit was $57 million, with an adjusted operating profit margin of 22%, up 100 basis points compared to the prior year [18] Market Data and Key Metrics Changes - The lighting market remains tepid, with the company noting that the market is waiting for clarity around interest rates, inflation, and policy [13] - The AIS business is strategically differentiated and positioned for value creation, continuing to perform well despite market challenges [13] Company Strategy and Development Direction - The company is focused on increasing product vitality, elevating service levels, and using technology to improve and differentiate products [5] - The introduction of new products, such as the EAX Area Luminaire and the combination of Distech and QSC technologies, aims to enhance customer experiences and operational efficiency [6][10] - The company is committed to driving productivity and creating autonomous spaces through data interoperability [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term performance of both the lighting and spaces businesses, despite current market challenges [13] - The company is targeting 50-100 basis points of operating profit margin improvement per year, indicating a focus on long-term margin enhancement [24] Other Important Information - The company generated $141 million in cash flow from operations, which is $9 million higher than the same period last year [19] - The company allocated $28 million to repurchase shares and repaid $100 million of its term loan during the quarter [19] Q&A Session Summary Question: Gross margin seasonality and future expectations - Management acknowledged the impact of tariffs on gross margins and expressed confidence in the ability to drive margins at ABL over the long term [22][24] Question: ABL operating expenses and productivity investments - Management indicated that the muted step-down in operating expenses from Q4 to Q1 was due to prior cost-cutting measures [25][27] Question: Cross-sell opportunities between ABL and AIS - Management emphasized that cross-sell opportunities should be driven by customer demand rather than aggressive pushing of products [31] Question: Backlog normalization and future growth - Management confirmed that historical seasonality may be skewed due to elevated backlog levels, suggesting potential slower growth in the upcoming quarters [36] Question: Divergence between ISN and DSN - Management noted that while there is some noise in the accounts, the combined performance of ISN and DSN is in line with expectations [40] Question: Tariffs and potential impacts on pricing - Management discussed the uncertainty surrounding tariffs and the potential implications for pricing strategies [55][56] Question: Backlog levels and market outlook - Management indicated that backlog levels are now more consistent with pre-COVID periods, suggesting a return to normal order rates [58]

Company Overview - Acuity Brands Lighting (ABL) net sales for Q1'26 were $669 million[23], while Acuity Intelligent Spaces (AIS) net sales for Q1'26 were $948 million[28] - ABL Adjusted Operating Profit Margin for Q1'26 was 18.5%[23], and AIS Adjusted Operating Profit Margin for Q1'26 was 21.7%[28] Financial Performance - The company's net sales have grown from $1.7 billion in FY09 to $4.5 billion in LTM Q1'26[34] - Adjusted Operating Profit has increased from $186 million in FY10 to $806 million in LTM Q1'26[35] - Adjusted Diluted Earnings Per Share have risen from $2.42 in FY10 to $18.73 in LTM Q1'26[37] - Free Cash Flow generation has increased from $139 million in FY10 to $534 million in LTM Q1'26[38] Capital Allocation - The company has repurchased approximately $1.5 billion of its shares outstanding since the beginning of the 4th quarter of 2020, representing about 25% of the then-outstanding shares[31] Non-GAAP Measures - The company uses non-GAAP financial measures such as adjusted operating profit, adjusted net income, and free cash flow to enhance the understanding of its financial performance and prospects[4] - These non-GAAP measures are used for internal reviews of performance, baseline comparative operational analysis, and decision-making[5]