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.

Total Revenue

$1B

Previous year: $1.06B