Acuity Brands

Acuity Brands, Inc. (NYSE: AYI) announced luminaires representing its A-Light™, Cyclone™, Eureka®, Gotham®, Hydrel®, Luminis®, and Peerless® architectural lighting brands won a total of ten GOOD DESIGN® Awards from The Chicago Athenaeum: Museum of Architecture and Design.

Each year, The Chicago Athenaeum presents the GOOD DESIGN Awards Program for the most innovative and cutting-edge industrial, product, and graphic designs produced worldwide. Launched in 1950, GOOD DESIGN is the oldest and the most prestigious Awards Program organized worldwide. In 2024, thousands of submissions were received by the Museum from over 56 countries.

GOOD Design Award winners include:​

A-Light: Lino is available in 2.16” and 3” apertures, and the small profile housing and no visible hardware ensure that the fixture subtly integrates into a variety of interior and exterior environments. With an IP66 rating, Lino luminaires are particularly well-suited for outdoor applications with harsher weather conditions. Designers can mix and match numerous suspended or surface mountings to maintain a consistent design aesthetic. Suspended mountings include catenary or pendant stem. Ceiling, wall, channel or mullion block can be selected for surface mountings. Direct illumination is available with batwing, flat blade louver, HE Tech™, wall grazer or asymmetric distribution types, each meeting specific lighting needs. Designers may choose indirect illumination for the mullion block mounting option. Available in up to 8-foot standard lengths, luminaires can be trimmed to specific sizes in increments of 1/8 inch. Luminaires may be joined with L-, T-, or X-corners for creative patterns. Sustainability is a key element of the design, including fixtures that contain 60% recycled aluminum extrusions. Lino luminaires are enabled with the nLight® network control system.

Cyclone: Mochi has a nature-inspired silhouette that departs from traditional dome styling, bringing a softness to urban settings while delivering exceptional lighting performance. Available in side or pendant mount, Mochi’s unique dome profile can be configured to work in a variety of spaces. Mochi’s advanced lighting system offers precise illumination that is well-suited for projects where safety is a priority, including city and residential streets, commercial buildings, transit, urban parks, waterfront pathways, or bike paths. Mochi is designed using Cyclone’s high-performance Orion light engine for maximum output capacity. Fully sealed IP66 rated, optically engineered acrylic lenses are combined with a state-of-the-art thermal management system to deliver durable, consistent, superior illumination. Dark Sky friendly, Mochi luminaires are offered with a 36-LED or 54-LED board, supplying 3,000 to 16,000 delivered lumens. Project designers can choose from more than 14 light distribution types, including backward optics which can be oriented in 90°. Designers can combine two distribution types within a single light engine and effectively illuminate a road and an adjacent bike path.

Eureka: Atoll is a high-performance ring fixture producing an evenly distributed luminous glow. It comes in 7 different sizes and offers a range of mounting options. The fixture's angled knife-edge diffuser adds a contemporary touch, allowing it to effortlessly fill spaces with simplicity and elegance.

Elke pendant highlights our discreet Mika 4230 diffusor by redefining its volume and scale. Lighted versions (4226) or the versions without light source (4226U) can be used alone or arranged to create impressive layouts, while multiplying the sound absorption. Available in 3 sizes and with the possibility to mix the felt panels color which are cut by a high precision CNC cutter.

Marro pendant highlights the discreet Mika 4230 diffusor by redefining its volume and scale. Lighted versions (4228) or the versions without light source (4228U) can be used alone or arranged to create impressive layouts, while multiplying the sound absorption. Available in 3 sizes and with the possibility to mix the felt panels color which are cut by a high precision CNC cutter.

Gotham: IVO™ Shallow Recessed Downlights address spatial limitations, fitting into spaces as shallow as 2 inches, while delivering exceptional performance. Boasting up to 3000 lumens from a 4-inch aperture and up to 5000 lumens from a 6-inch aperture and delivers up to 120 lumens per watt. Designed for field-serviceability, the downlight features interchangeable trims and optics that can be effortlessly serviced from below the ceiling with a simple twist and lock mechanism. The IVO downlight’s design uses 17% less steel, 44% less aluminum, and 28% less plastic compared to standard downlights. With Perfect Color™ Technology and light engine design, a 0.5-step MacAdam ellipse is achieved from fixture to fixture. Proprietary optics coupled with Bounding Ray™ Technology delivers a true uniformed, batwing distribution for smooth illumination and a comfortable experience for occupants in the space. Offers color temperature options from 2700K to 5000K. The downlight supports universal dimming to 1% through 0-10V, 120V Triac, and ELV protocols. Integration with nLight® wired or wireless lighting controls further enhances control options.

Hydrel: Tierra Ingrade Family offers higher delivered lumens, more color temperatures, and more options than the average ingrade - in a compact design. With only 4.4" and 6.38" diameters, the Tierra series is an ingrade that combines impact and corrosion-resistant materials, optimal beam control and superior performance. Delivers exceptional uniformity and on-target illumination. Its precision optical system offers excellent controlled beam angles. Modular design allows for easy installation, driver replacement, and light source updates as technology advances. Tierra incorporates innovative sealing capabilities, superior materials, and long-lasting finishes, promising decades of use with minimal maintenance. Its structural integrity is unmatched.

Luminis: Jaki is a versatile range of interior and exterior luminaires, designed to illuminate building facades, stairwells, corridors, or hallways across a wide range of applications. Designers have the flexibility to adapt Jaki wall, surface, or ceiling mount luminaires to meet a space’s lighting and aesthetic needs. Jaki can be installed horizontally or vertically, with or without a shield. It is also designed to deliver high performance for demanding applications. It features a shatterproof and UV-stable translucent MDPE rotomolded diffuser that is rated IK10 for durability and resistance in high-impact environments. An IP65 rating offers complete protection against water, dust, debris, and other particles.

Syrius Pro luminaires enable a continuous aesthetic from curb to cube, catering to a wide variety of exterior and interior applications. The family of luminaires is available in round or square, 4.5" and 6" formats. Designers can choose from various mounting types, including wall (downlight or up/downlight), surface ceiling, pendant stem, aircraft cable, or catenary.

Peerless: Prim™ is the seamless blend of an architectural downlight and a linear luminaire that is designed to bring harmonious, quiet, and comfortable lighting to the built environment. Prim’s integral driver solutions provide a range of benefits, from aiding in code compliance, to scalable networked lighting controls, to sophisticated management systems, and are available with nLight® enabled luminaires. Prim’s Tunable White capabilities are empowered by Modulus Power and Control Architecture to reproduce natural light patterns and colors, complement materials, and support productivity with optimal color temperature for the application.

For a full list of 2024 GOOD Design lighting award winners, please visit: The Good Design Awards.

Acuity Brands, Inc. (NYSE: AYI) (the “Company” or “Acuity”), a market-leading industrial technology company, has reached a definitive agreement to acquire QSC, LLC (“QSC”) for a purchase price of $1.215 billion, or $1.1 billion net of approximately $100 million in present value of expected tax benefits. The net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last twelve months ending August 31, 2024. It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.

“In our Intelligent Spaces business we are delivering meaningful outcomes for end users that are powered by disruptive technologies and that generate strong financial results,” said Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. “QSC has built a differentiated cloud-manageable audio, video and control platform that controls what happens in a built space. Our acquisition of QSC builds on our vision of data interoperability as we continue to make spaces smarter, safer and greener.”

QSC is a disrupter in a large and transforming AV&C industry. It provides a cloud-manageable audio, video and control platform that includes controls, sensors and software with broad applications across multiple end-markets including education, commercial, hospitality, government, healthcare and transportation. QSC delivered sales of approximately $535 million for the twelve months ending August 31, 2024.

“We are excited to be joining a company that is aligned around our long-term mission and shares our values,” said Joe Pham, Chairman and Chief Executive Officer of QSC. “Our shared vision of how we can leverage data with our technology solutions will elevate our ability to service our end-users and drive growth.”

Acquisition Financing and Close​

We anticipate funding the transaction using $600 million of term loan financing and the remainder with cash on the Balance Sheet.

The transaction is expected to close in the second-quarter of fiscal 2025, subject to customary closing conditions, including, among others, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

Allen & Company LLC is serving as financial advisor to Acuity and Baker McKenzie is providing external legal counsel. JPMorgan Chase Bank, N.A. and Bank of America, N.A. are leading the financing.

About QSC, LLC​

Founded over five decades ago, QSC, LLC is a globally recognized leader in the design, engineering, and manufacturing of award-winning solutions and services.

Leading the company’s success is Q-SYS, a cloud-first platform for audio, video, and control, built on a modern, standards-based IT architecture. With established solutions across Corporate, Education, Hospitality, Venues, Events, Cinema, Government, Healthcare, and Transportation, Q-SYS is redefining possibilities for live, hybrid, and virtual experiences.

QSC Audio complements these offerings with high-performance loudspeakers, digital mixers, power amplifiers, software, and accessories. These solutions empower creators, performers, and entertainment providers to confidently deliver impactful experiences for their audiences.

The company is headquartered in Costa Mesa in the United States, with an international presence in Europe and Asia and employs around 900 associates. More information can be found at www.qsc.com.

Acuity Brands, Inc. (NYSE: AYI) launched today, Nightingale™, a new brand of innovative, patient-centric lighting solutions that focuses on the patient experience while balancing the functional needs of professional caregivers. Drawing on decades of lighting expertise, Nightingale solutions combine the best of design and illumination engineering to provide a more comforting and reassuring patient experience that emphasizes wellness.

“Our mission with Nightingale is to advance the role and purpose of lighting in patient rooms -- and elsewhere within a healthcare facility -- by focusing on creating more caring environments for patients and caregivers,” said Gary Trott, GM/VP Specialty Lighting, Acuity Brands Lighting. “We set out to reinvent the way patient rooms and healthcare facilities are illuminated,” continued Trott, “with the goal of developing trendsetting solutions that create positive environments .

The investment in Nightingale reinforces Acuity’s focus on growth in key vertical markets such as healthcare. Nightingale initially launches with multiple patient-centric lighting solutions including the Assure™ nightlight, Assist™ panel, and Observe™ cloud, with numerous lighting solutions to be added throughout 2025.

Nightingale confirms Acuity Brands’ commitment to better lighting for healthcare spaces; driving innovation for the patient room, surgical suite, imaging, specialty areas, administration, and laboratory spaces to contribute to better experiences. This commitment is supported by the Care Collection™, a single site that makes it easy to find healthcare-ready lighting products from the wider Acuity Brands portfolio.

“Our selection of Nightingale as our brand name is an intentional association with Florence Nightingale, who brought a lifetime of innovation and determination to making patients’ lives and health outcomes better,” said Ben Grindle, Director - Product Management, Nightingale, Acuity Brands Lighting. “Her singular purpose is an inspiration as we seek lighting solutions that have an intentional design and focus on patient experience and feeling of wellbeing.”

Learn more about Nightingale and its patient-centric lighting solutions at www.nightingalelighting.com.

Acuity Brands, Inc. (NYSE: AYI) (the "Company"), a market-leading industrial technology company, announced net sales of $1.03 billion in the fourth quarter of fiscal 2024 ended August 31, 2024, an increase of $21.9 million, or 2.2 percent, compared to the prior year.

“Our fiscal 2024 fourth quarter performance was strong. We grew net sales in both Lighting and Spaces, delivered margin expansion and increased earnings per share," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. “Fiscal 2024 was a successful year of improved operating performance that delivered increased end-user satisfaction and financial results.”

Operating profit was $157.0 million in the fourth quarter of fiscal 2024, an increase of $47.3 million, compared to the prior year. Operating profit as a percent of net sales was 15.2 percent in the fourth quarter of fiscal 2024, an increase of approximately 430 basis points compared to the prior year. Adjusted operating profit was $178.5 million in the fourth quarter of fiscal 2024, an increase of $16.2 million compared to the prior year. Adjusted operating profit as a percent of net sales was 17.3 percent in the fourth quarter of fiscal 2024, an increase of approximately 120 basis points compared to the prior year.

Diluted earnings per share was $3.77 in the fourth quarter of fiscal 2024, an increase of $1.14, or 43.3 percent, compared to the prior year. Adjusted diluted earnings per share was $4.30 in the fourth quarter of fiscal 2024, an increase of $0.33, or 8.3 percent from $3.97 in the prior year.

Full-Year 2024 Summary​

Net sales of $3.84 billion for the full year of fiscal 2024 decreased $111.2 million, or 2.8 percent, from $3.95 billion in the full year of fiscal 2023.

Operating profit was $553.3 million for the full year of fiscal 2024, an increase of $79.9 million compared to the prior year. Operating profit as a percent of net sales was 14.4 percent for the full year of fiscal 2024, an increase of approximately 240 basis points compared to the prior year. Adjusted operating profit was $639.6 million for the full year of fiscal 2024, an increase of $42.2 million compared to the prior year. Adjusted operating profit as a percent of net sales was 16.7 percent for the full year of fiscal 2024, an increase of approximately 160 basis points compared to the prior year.

Diluted earnings per share was $13.44 for the full year of fiscal 2024, an increase of $2.68 or 24.9 percent, compared to the prior year. Adjusted diluted earnings per share was $15.56, an increase of $1.51, or 10.7 percent, from $14.05 in the prior year.

Segment Performance​

Acuity Brands Lighting and Lighting Controls ("ABL")

Fourth-Quarter Results

ABL generated net sales of $955.0 million in the fourth quarter of fiscal 2024, an increase of $10.8 million, or 1.1 percent, compared to the prior year.

ABL operating profit was $161.5 million in the fourth quarter of fiscal 2024, an increase of $43.7 million compared to the prior year. ABL operating profit as a percent of ABL net sales was 16.9 percent in the fourth quarter of fiscal 2024, an increase of approximately 440 basis points compared to the prior year. ABL adjusted operating profit was $171.9 million in the fourth quarter of fiscal 2024, an increase of $13.2 million compared to the prior year. ABL adjusted operating profit as a percent of ABL net sales was 18.0 percent in the fourth quarter of fiscal 2024, an increase of approximately 120 basis points compared to the prior year.

Full-Year Results

ABL generated net sales of $3.6 billion for the full year of fiscal 2024, a decrease of $149.4 million, or 4.0 percent, as compared to the prior year.

ABL operating profit was $582.8 million for the full year of fiscal 2024, an increase of $73.3 million, or 14.4 percent, compared to the prior year. ABL operating profit as a percent of ABL net sales was 16.3 percent for the full year of fiscal 2024, an increase of approximately 260 basis points compared to the prior year. ABL adjusted operating profit was $624.2 million for the full year of fiscal 2024, an increase of $33.7 million, or 5.7 percent, from the same period of fiscal 2024. ABL adjusted operating profit as a percent of ABL net sales was 17.5 percent for the full year of fiscal 2024, an increase of approximately 160 basis points compared to the prior year.

Intelligent Spaces Group ("ISG")

Fourth-Quarter Results

ISG generated net sales of $83.9 million in the fourth quarter of fiscal 2024, an increase of $12.0 million, or 16.7 percent, compared to the prior year.

ISG operating profit was $16.7 million in the fourth quarter of fiscal 2024, an increase of $7.3 million compared to the prior year. ISG operating profit as a percent of ISG net sales was 19.9 percent in the fourth quarter of fiscal 2024. ISG adjusted operating profit was $21.5 million in the fourth quarter of fiscal 2024, an increase of $7.3 million compared to the prior year. ISG adjusted operating profit as a percent of ISG net sales was 25.6 percent in the fourth quarter of fiscal 2024.

Full-Year Results

ISG generated net sales of $291.9 million for the full year of fiscal 2024, an increase of $39.2 million, or 15.5 percent, as compared to the prior year.

ISG operating profit was $43.6 million for the full year of fiscal 2024, an increase of $11.5 million compared to the prior year. ISG operating profit as a percent of ISG net sales was 14.9 percent for the full year of fiscal 2024. ISG adjusted operating profit was $63.4 million for the full year of fiscal 2024, an increase of $13.3 million as compared to the prior year. ISG adjusted operating profit as a percent of ISG net sales was 21.7 percent for the full year of fiscal 2024.

Cash Flow and Capital Allocation​

Net cash from operating activities was $619.2 million for the full year of fiscal 2024, an increase of $41.1 million compared to the prior year.

During fiscal 2024, the Company repurchased approximately 454,000 shares of common stock for a total of approximately $89 million.

Form 10-K Filing​

The independent registered public accounting firm’s audit report with respect to the Company’s fiscal year-end financial statements will not be issued until the Company files its annual report on Form 10-K, including its evaluation of the effectiveness of internal controls over financial reporting. Accordingly, the financial results reported in this earnings release are preliminary pending completion of the audit.

Acuity Brands, Inc. (NYSE: AYI) announced today that seven Acuity Brands lighting and components solutions were selected for the 2024 Illuminating Engineering Society (IES) Progress Report, which showcases the year's most significant advancements in the art and science of lighting. Selections were made by an impartial committee that evaluated submissions based on uniqueness, innovation, and significance to the lighting industry.

2024 IES Progress Report inclusions: A-Light™ Lino luminaire, Cyclone™ Crosswalk Optics, IVO™ Shallow Recessed Downlight from Gotham® Lighting, Hydrel® Tierra Ingrade Family, IOTA ILD Series Emergency Drivers, Juno® 2" Canless Wafer Downlights, and the Lithonia® FRAME LED Lay-in from Lithonia Lighting®.

A-Light Lino is available in 2.16” and 3” apertures, and the small profile housing and no visible hardware ensure that the fixture subtly integrates into a variety of interior and exterior environments. With an IP66 rating, Lino luminaires are particularly well-suited for outdoor applications with harsher weather conditions. Designers can mix and match from numerous suspended or surface mountings to maintain a consistent design aesthetic. Suspended mountings include catenary or pendant stem. Ceiling, wall, channel or mullion block can be selected for surface mountings. Direct illumination is available with batwing, flat blade louver, HE Tech™, wall grazer or asymmetric distribution types, each meeting specific lighting needs. Designers may choose indirect illumination for the mullion block mounting option. Available in up to 8-foot standard lengths, luminaires can be trimmed to specific sizes in increments of 1/8 inch. Luminaires may be joined with L-, T-, or X-corners for creative patterns. Sustainability is a key element of the design, including fixtures that contain 60% recycled aluminum extrusions. Lino luminaires are enabled with the nLight® network control system.

Cyclone Crosswalk Optics solution takes into account the two main contributing factors to pedestrian visibility, including contrast and vertical illuminance. With asymmetrical forward and asymmetrical right side light distribution, the optics provide a high positive contrast that make pedestrians look brighter than the background. They also enhance vertical and horizontal illuminance to help motorists clearly and effectively detect the crosswalk and the pedestrian well in advance. They are designed based on the guidance in IES RP-8; Recommended Practice: Lighting Roadway and Parking Facilities, with particular attention paid to the recommendations focused on pedestrian crosswalks. They are available in lumen packages ranging from 3,100 lm to 11,600 lm and all versions are IP66 rated for harsh weather.

Gotham IVO Shallow Recessed Downlight addresses spatial limitations, fitting into spaces as shallow as 2 inches, while delivering exceptional performance. Boasting up to 3000 lumens from a 4-inch aperture and up to 5000 lumens from a 6-inch aperture and delivers up to 120 lumens per watt. Designed for field-serviceability, the downlight features interchangeable trims and optics that can be effortlessly serviced from below the ceiling with a simple twist and lock mechanism. The IVO downlight’s design uses 17% less steel, 44% less aluminum, and 28% less plastic compared to standard downlights. Perfect color consistency is achieved with a 0.5 MacAdam ellipse from fixture to fixture. Proprietary optics coupled with an advanced light engine and Bounding Ray™ Optical Design delivers a true uniformed, batwing distribution for smooth illumination and a comfortable experience for occupants in the space. Offers color temperature options from 2700K to 5000K. The downlight supports universal dimming to 1% through 0-10V, 120V Triac, and ELV protocols. Integration with nLight® wired or wireless lighting controls further enhances control options. 

Hydrel Tierra offers higher delivered lumens, more color temperatures, and more options than the average ingrade - in a compact design. With only 4.4" and 6.38" diameters, the Tierra series is an ingrade that combines impact and corrosion-resistant materials, optimal beam control and superior performance. Delivers exceptional uniformity and on-target illumination. Its precision optical system offers excellent controlled beam angles. Modular design allows for easy installation, driver replacement, and light source updates as technology advances. Tierra incorporates innovative sealing capabilities, superior materials, and long-lasting finishes, promising decades of use with minimal maintenance. Its structural integrity is unmatched.

IOTA ILD Series Emergency Driver is a UL Listed LED emergency driver that allows the same LED fixture to be used for both normal and emergency operation. In the event of a power failure, the ILD 10 switches power from the normal AC Driver and operates the fixture for 90 minutes in the emergency mode from the unit’s battery supply. The Quick-Disconnect wiring connectors provide installation flexibility and optimization, allowing for snap-in field replacement. The unit contains a battery, charger, and converter circuit in a narrow profile enclosure for installation within the channel space or wireway. The ILD 10 will operate an LED load at 10 watts with constant power at a rated output voltage of 10V-55V. The Constant Power design of the ILD 10 maintains the output wattage to the LED array even as the system voltage diminishes, providing a consistent illumination level for the full 90-minute runtime. Features lithium battery technology for significantly decreased form factor, automatic monthly and annual self-testing capability, and AC Activate battery activation circuitry.

Juno 2" Canless Wafer Downlight has an innovative, slim design that installs quickly and easily into as little as 3" of plenum allowing for it to fit into ceiling spaces where most traditional recessed housings do not. No housing required to install. Once installed, the Wafer provides an all-in-one design featuring switchable white color temperature and adjustable lumen output technology. This technology gives distributors, contractors and homeowners the ultimate in flexibility by providing the equivalent of 15 static fixtures in one. These technologies are controlled by switches located directly on the fixture. Simply toggle each switch to the desired settings: 2700K, 3000K, 3500K, 4000K, or 5000K for color temperature adjustment and low, medium, high for lumen adjustment.

Lithona FRAME by Lithonia Lighting offers a modern, upscale aesthetic with functionality and performance to match. At the heart of the FRAME design is the ‘snap’ together assembly which provides unrivaled value in shipping, storage and installation costs. Featuring Switchable color temperature and adjustable lumen technology, the FRAME allows the user to fine tune the look and feel of their space. The FRAME is designed with the latest optical technology to provide the same efficiency and output as a traditional LED flat Panel, for a fraction of the weight and cost.

Acuity Brands, Inc. (NYSE: AYI) (“Acuity”), a market-leading industrial technology company, announced that Sach Sankpal, SVP and Chief Growth and Transformation Officer, has been appointed as President of Acuity Brands Lighting and Lighting Controls (“ABL”).

“Since joining Acuity two years ago, Sach has been a positive influence on our performance and our culture,” stated Neil Ashe, Chairman, President and CEO of Acuity Brands, Inc. “He brings over 30 years of experience accelerating transformation, driving innovation and positioning global industrial technology organizations for future growth.”

Trevor Palmer, the current President of the ABL business, has made many positive contributions to the business, leading ABL through several years of transformation that positions us for future success. He will be leaving the Company after a successful tenure.

“We are taking Acuity to places that it has never been by doing things differently than they've been done in the past,” Neil Ashe continued. “Creating a single lighting organization under the leadership of Sach will enable us to connect our processes more effectively end-to-end to accelerate growth and drive productivity. We thank Trevor for his many contributions and look forward to the future with confidence.”

Acuity Brands, Inc. (NYSE: AYI) introduces the Cell Connect™ solution into the AutoConnect™ family of outdoor luminaires from American Electric Lighting®. The solution includes D4i certified photocontrols from Ubicquia, embedded within Acuity Brands luminaires, which make use of control, asset management, and diagnostics capabilities.

With the ability to communicate over a cellular LTE network with Ubicquia’s UbiVu® cloud-based asset management system, the Cell Connect solution provides reliable low voltage lighting control with digital switching, precise dimming, and revenue grade metering. This solution can help simplify intelligent lighting deployment and significantly reduce operations and maintenance expenses for smart cities and utilities alike.

The UbiVu system from Ubicquia, an innovator in intelligent utility infrastructure, provides an interface to manage streetlights and smart city/utility sensor devices. The platform enables the operator to lower the cost of operating and maintaining streetlights by optimizing lighting for the environment; monitoring luminaires for outages, pole tilt, and utility-side power quality issues; and streamlining operations and maintenance.

“Acuity Brands’ class-leading luminaires and D4i certified LED drivers with embedded photocontrols from Ubicquia will provide customers with an easy to deploy modern outdoor lighting infrastructure that is software-ready for energy and lifecycle management,” said Sarah Golish, SVP, Digital Lighting Networks, Acuity Brands Lighting and Lighting Controls. “The addition of this solution to our portfolio expands the control options available with the AutoConnect luminaire family, and we plan to extend this offering to other luminaire families specifically designed for outdoor infrastructure applications.”

“Acuity Brands and Ubicquia have collaborated previously on multiple, large smart lighting projects throughout the U.S. which led us to work together to develop this innovative Cell Connect solution,” said Kyle Brown, Chief Revenue Officer at Ubicquia. “By providing outdoor infrastructure luminaires with the embedded Cell Connect solution communicating to Ubicquia’s UbiVu platform, together we are making smart lighting solutions more cost effective for cities and utilities of all sizes.”

The Cell Connect™ solution is initially available for the family of AutoConnect™ LED Roadway Luminaires from American Electric Lighting® (also known as AEL®), a brand within the Acuity Brands Lighting and Lighting Controls portfolio. For more information, please visit Cell Connect solution for outdoor lighting or AutoConnect connected lighting.

Acuity Brands, Inc. (NYSE: AYI) announced today the addition of Connected STAR to its Emergency Lighting with Self Testing Automated Reporting (STAR) solution. This enhancement aids in code compliance through its new method of deployment suited for large scale applications, ensuring proper emergency operation and illumination during power outages.

With the introduction of Connected STAR, powered by the STAR Gateway by IOTA®, test data is securely logged within the unit, and compliance reports are automatically emailed directly to users' devices.

The market demand for robust emergency lighting solutions is driven by the need for life safety code compliance. Life Safety Code NFPA 101 mandates monthly testing for at least 30 seconds, annual testing for at least 90 minutes, and meticulous record-keeping. Emergency Lighting with STAR alleviates the burdens associated with compliance through its automated testing and reporting capabilities.

Key benefits of Connected STAR include:

• No Button Pushes or Ladders: Automation eliminates the need for manual testing, freeing users from the hassle of climbing ladders or lifts.
• No Written Records: Automated reporting delivers data directly to users' mobile devices, eliminating the need for manual record-keeping and ensuring accessibility during emergencies.
• No Disruptions: Automated testing occurs seamlessly during day-to-day operations, avoiding the need for manual power shutdowns and resulting in time, cost, and energy savings.
• Emergency Lighting with STAR offers two deployment options: Mobile STAR and Connected STAR. Mobile STAR logs test data in individual units, broadcasting it to the CLAIRITY+ mobile app. Connected STAR logs data in the Connected STAR Gateway by IOTA and sends reports directly via email.

To access the STAR micro app, users can download the CLAIRITY+ mobile app from Acuity Brands®, available for free on both iOS and Android devices in the app store.

Find products enabled with STAR and take the online eLearning course at acuitybrands.com/STAR.

On January 9, 2024, Acuity Brands Inc (NYSE:AYI) released its 8-K filing, detailing the financial results for the first quarter of fiscal 2024. Despite a 6% decline in net sales compared to the prior year, the company demonstrated robust financial discipline, achieving a 22% increase in operating profit and a significant 40% increase in diluted earnings per share (EPS).

Acuity Brands Inc, a leading industrial technology company, is known for its innovative lighting and building management solutions. The company operates primarily in North America, Europe, and Asia, with a strong focus on developing new products and services that contribute to its growth and market share.

Financial Performance and Challenges
The decrease in net sales to $934.7 million was attributed to a 7.5% decline in the Acuity Brands Lighting and Lighting Controls (ABL) segment, although this was partially offset by a 13% increase in the Intelligent Spaces Group (ISG) segment. Despite the sales downturn, Acuity Brands Inc managed to grow its operating profit to $132.9 million, reflecting a notable improvement in profitability.

The company's ability to expand its margins is particularly important in the competitive industrial products industry, where efficiency and cost management are key to maintaining profitability. The adjusted operating profit margin increased by 250 basis points to 16.5%, indicating the company's successful cost control measures and operational efficiency.

Financial Achievements and Importance
Acuity Brands Inc's financial achievements, such as the growth in operating profit and EPS, are critical indicators of the company's operational effectiveness and its ability to enhance shareholder value. The reported diluted EPS of $3.21 and adjusted diluted EPS of $3.72 represent a significant return to shareholders, especially in light of the repurchase of approximately 0.3 million shares for $50 million during the quarter.

The generation of $190 million in cash flow from operations is another testament to the company's strong financial health and its capacity to fund operations, invest in growth opportunities, and return capital to shareholders.

Key Financial Metrics and Commentary
Key metrics from the income statement, balance sheet, and cash flow statement reveal a solid financial position for Acuity Brands Inc. The company's balance sheet shows a healthy cash and cash equivalents balance of $513.3 million, an increase from the previous quarter, indicating strong liquidity.

"We continued to demonstrate strong execution in our fiscal 2024 first quarter," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. "We increased our adjusted operating profit, adjusted operating profit margin and adjusted diluted earnings per share. We generated significant free cash flow, and we allocated capital effectively to drive value."

Acuity Brands Inc's performance reflects its strategic focus on operational excellence and capital allocation. The company's ability to navigate market challenges while delivering growth in profitability and shareholder returns positions it well for future success.

Analysis of Company Performance
While the decline in net sales presents a challenge, Acuity Brands Inc's performance in fiscal Q1 2024 demonstrates the company's resilience and strategic focus on margin expansion and profitability. The company's strong cash flow generation and share repurchase program further underscore its commitment to creating value for shareholders. As Acuity Brands Inc continues to innovate and optimize its operations, it remains well-positioned to capitalize on market opportunities and drive sustainable growth.

For a detailed understanding of Acuity Brands Inc's financials and strategic direction, investors and interested parties are encouraged to review the full 8-K filing.

Explore the complete 8-K earnings release (here) from Acuity Brands Inc for further details.

This article first appeared on GuruFocus.

An agreement has been reached for Acuity Brands to acquire the Arize family of LED grow lights from Current Lighting Solutions and Hort Americas will continue to be the exclusive distribution partner.

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Atlanta, GA – – Acuity Brands, Inc. (NYSE: AYI) (“Company”) announced today that it has reached an agreement to acquire the Arize® family of horticulture lighting products from Current Lighting Solutions, LLC (”Current Lighting”). The Company has also reached an agreement with Hort Americas, LLC for it to remain as the exclusive distributor of these horticulture lighting products throughout the U.S., Canada, and Mexico.

“By adding these high-powered, greenhouse-focused luminaires to our horticulture lighting portfolio, Acuity Brands will be positioned to greatly expand our product offering to the fast-growing controlled environment agriculture market, while taking advantage of our lighting and controls expertise to help growers increase productivity while decreasing energy consumption,” said Tony Gineris, VP & General Manager, Industrial and Outdoor, Acuity Brands Lighting and Lighting Controls. “In addition, we will be aligning ourselves with Hort Americas, an established leader in the commercial greenhouse space.”

Founded in 2009, Hort Americas (Bedford, TX) works closely with qualified manufacturers to bring to market quality, technically advanced, and cost-effective products for use in commercial greenhouses, vertical farms, and controlled environment agriculture applications. Hort Americas has focused on understanding how LED grow lights can help growers improve production and improve their operating expenses by decreasing energy consumption since 2010. They constantly work with growers to understand their needs and respond with science-supported educational materials, while working with their manufacturing partners to develop products that meet those needs.

“Hort Americas is extremely grateful to have had the opportunity to work with Current Lighting (previously known as GE Current, a Daintree Company) to help develop a lineup of LED grow lights with proven reliability over time,” said Chris Higgins, President of Hort Americas. “We are now excited to partner with Acuity Brands and continue building on the success, as well as the products, technology, and services, so many growers have come to depend on.”

The transaction with Current Lighting is expected to close by the end of January 2024 when the Arize products will join the Verjure™ series of horticulture lighting products from Acuity Brands. The Hort Americas agreement will go into effect upon the closing of the transaction with Current.

“We know we need scale, proven customer service, strong warranties and a reputation for engineering high-quality products to be successful,” Higgins added. “Only a few companies in North America can offer all of these characteristics. We are confident that one of the leading lighting technology companies in North America, Acuity Brands, will be a partner to help us advance the horticulture industry going forward.”