Acuity Brands Clocks 18% Revenue Growth In Q3, Beats Street Expectation

  • Acuity Brands, Inc. AYI reported third-quarter FY22 net sales growth of 17.9% year-over-year to $1.1 billion, beating the consensus of $985.42 million.
  • Adjusted EPS improved to $3.52 (+27.1% Y/Y), beating the consensus of $2.96.
  • Sales by segments: Acuity Brands Lighting and Lighting Controls $1 billion (+18.6% Y/Y) and Intelligent Spaces Group $58.3 million (+5.2% Y/Y).
  • Gross margin for the quarter contracted by 100 bps to 41.9%. The operating profit increased by 20.8% Y/Y to $143 million, and the margin expanded by 33 bps to 13.5%.
  • Adjusted operating margin expanded by 10 bps to 15.3%.
  • Acuity Brands generated cash from operating activities year-to-date of $165.7 million (-47.6% Y/Y).
  • Adjusted EBITDA increased by 16.2% Y/Y to $176.1 million, and margin contracted by 25 bps to 16.6%.
  • AYI repurchased 2.3 million shares of common stock YTD for $405 million.
  • The company also issued a separate statement on the appointment of Marcia J. Avedon as an Independent Director.
  • Dividend: AYI board declared a quarterly dividend of $0.13 per share, payable on August 1, 2022, to shareholders of record on July 15, 2022.
  • Price Action: AYI shares are trading higher by 0.24% at $156.12 during the market session on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsDividendsManagementBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!