Acuity Brands Q2 2023 Earnings Report

Acuity Brands' performance in Q2 2023 reflected solid sales and margin expansion across both business segments, increased EPS, and strong cash flow generation.

Key Takeaways

Acuity Brands reported a 3.8% increase in net sales to $943.6 million in the second quarter of fiscal 2023. The company experienced growth in both its lighting and spaces businesses, expanded adjusted operating profit, and grew adjusted diluted earnings per share. They also generated strong cash flow from operations and continued to repurchase shares.

Net sales increased 4% over the prior year.

Diluted EPS increased 21% over the prior year; adjusted diluted EPS increased 19% over the prior year.

Operating profit was $111.5 million, an increase of 9.0% compared to the prior year.

The company generated strong cash flow from operations and repurchased shares.