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May 31, 2023
Acuity Brands Q3 2023 Earnings Report
Acuity Brands reported a decrease in net sales but achieved margin expansion and strong cash flow generation.
Key Takeaways
Acuity Brands reported a decrease in net sales of 5.7% to $1.0 billion. However, the company expanded adjusted operating profit margin and grew adjusted diluted earnings per share by 7%. They also generated strong cash flow from operations and acquired KE2 Therm.
Improved operating profit margin by 80 basis points year-over-year.
Adjusted operating profit margin increased by 100 basis points year-over-year.
Diluted EPS and Adjusted Diluted EPS grew 7 percent year-over-year.
Generated strong cash flow from operations and allocated capital to the acquisition of KE2 Therm and continued share repurchases.
Acuity Brands
Acuity Brands
Forward Guidance
Acuity Brands did not provide specific forward guidance in this earnings report.