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Acuity Reports Fiscal 2025 Third-Quarter Results

1. AYI's net sales reached $1.2B, up 22% year-over-year. 2. Adjusted earnings per share rose to $5.12, increasing 23.4% year-over-year. 3. Operating profit decreased slightly to $139.8M, primarily from special charges. 4. Acuity Intelligent Spaces saw a remarkable 248.9% surge in net sales. 5. Cash flow was strong, supporting significant capital deployment and increased dividends.

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FAQ

Why Bullish?

The significant growth in sales and adjusted EPS, despite slight operational profit decline, underscores strong market demand, validating positive sentiment. Historical trends show similar robust performance has led to stock price increases, as seen in past quarterly earnings releases.

How important is it?

The article highlights crucial financial metrics and growth trajectories that directly impact investor confidence and stock evaluation. The emphasis on substantial sales increases and adjusted earnings aligns with significant interest from market analysts and sets a positive tone for AYI's positioning.

Why Short Term?

The immediate response from the market will likely focus on strong sales and earnings performance; hence, the impact is anticipated in the short term. Such financials are persuasive indicators for investors looking for growth coordinates in Q3 competitive analysis.

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GEJCIAMCROSIS
Strong Performance Delivers Sales Growth in Both Lighting and Intelligent Spaces Delivered Net Sales of $1.2B, an Increase of 22% Compared to the Prior YearDelivered Operating Profit of $140M, Down 4 % Compared to the Prior Year; Grew Adjusted Operating Profit to $222M, Up 33% Compared to the Prior YearDelivered Diluted EPS of $3.12, Down 14% Compared to the Prior Year; Grew Adjusted Diluted EPS to $5.12, Up 23% Compared to the Prior Year ATLANTA, June 26, 2025 (GLOBE NEWSWIRE) -- Acuity Inc. (NYSE: AYI), ("Acuity"), a market-leading industrial technology company, delivered net sales of $1.2 billion in the third quarter of fiscal 2025 ended May 31, 2025, an increase of $210.5 million, or 21.7 percent, compared to the prior year. "We delivered strong performance in the third quarter of fiscal 2025," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Inc. "We grew net sales, expanded our adjusted operating profit and adjusted operating profit margin and we increased our adjusted diluted earnings per share. We generated strong cash flow and allocated capital effectively. " During the third quarter of fiscal 2025, we accelerated productivity actions in our ABL segment that resulted in $29.7 million of special charges. These charges included the elimination of brands, associate severance, and facility reorganization. Operating profit was $139.8 million in the third quarter of fiscal 2025, a decrease of $5.5 million, or 3.8 percent, compared to the prior year. Operating profit as a percent of net sales was 11.9 percent in the third quarter of fiscal 2025, a decrease of 310 basis points compared to the prior year. Adjusted operating profit was $221.7 million in the third quarter of fiscal 2025, an increase of $54.6 million, or 32.7 percent, compared to the prior year. Adjusted operating profit as a percent of net sales was 18.8 percent in the third quarter of fiscal 2025, an increase of 150 basis points compared to the prior year. Diluted earnings per share was $3.12 in the third quarter of fiscal 2025, a decrease of $0.50, or 13.8 percent, compared to the prior year. Adjusted diluted earnings per share was $5.12 in the third quarter of fiscal 2025, an increase of $0.97, or 23.4 percent, from $4.15 in the prior year. Segment Performance Acuity Brands Lighting ("ABL") ABL generated net sales of $923.2 million in the third quarter of fiscal 2025, an increase of $24.7 million, or 2.7 percent, compared to the prior year. Operating profit was $134.0 million in the third quarter of fiscal 2025, a decrease of $17.5 million, or 11.6 percent, compared to the prior year. Operating profit as a percent of ABL net sales was 14.5 percent in the third quarter of fiscal 2025, a decrease of 240 basis points compared to the prior year. Adjusted operating profit was $173.9 million in the third quarter of fiscal 2025, an increase of $11.8 million, or 7.3 percent, compared to the prior year. Adjusted operating profit as a percent of ABL net sales was 18.8 percent in the third quarter of fiscal 2025, an increase of 80 basis points compared to the prior year. Acuity Intelligent Spaces ("AIS") AIS generated net sales of $264.1 million in the third quarter of fiscal 2025, an increase of $188.4 million, or 248.9 percent, compared to the prior year. Included in net sales are $172.8 million from three months of QSC performance. Operating profit was $27.4 million in the third quarter of fiscal 2025, an increase of $14.9 million compared to the prior year. Operating profit as a percent of AIS net sales was 10.4 percent in the third quarter of fiscal 2025, a decrease of 610 basis points compared to the prior year. Adjusted operating profit was $62.3 million in the third quarter of fiscal 2025, an increase of $45.0 million compared to the prior year. Adjusted operating profit as a percent of AIS net sales was 23.6 percent in the third quarter of fiscal 2025, an increase of 70 basis points compared to the prior year. Cash Flow and Capital Allocation Net cash from operating activities was $398.9 million for the first nine months of fiscal 2025. We closed the QSC acquisition and acquired M3 Innovation, increased our dividend by 13 percent to 17 cents per share and repurchased approximately 344,000 shares of common stock for a total of $91.3 million. Call Details We will host a conference call at 8:00 a.m. ET today, Thursday, June 26, 2025. Neil Ashe, Chief Executive Officer of Acuity Inc. will lead the call. The conference call and earnings release can be accessed via our Investor Relations section of our website at www.investors.acuityinc.com. A replay of the call will also be posted to the Investor Relations website within two hours of the completion of the conference call and will be available on the website for a limited time. About Acuity Acuity Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces, light and more things to come. Through our two business segments, Acuity Brands Lighting (ABL) and Acuity Intelligent Spaces (AIS), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and an audio, video and control platform. We focus on customer outcomes and drive growth and productivity to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals. Acuity Inc. is based in Atlanta, Georgia, with operations across North America, Europe and Asia. The Company is powered by approximately 13,000 dedicated and talented associates. Visit us at www.acuityinc.com. Non-GAAP Financial Measures This news release includes the following non-generally accepted accounting principles (“GAAP”) financial measures: “adjusted operating profit” and “adjusted operating profit margin” for total company and by segment; for total company only we additionally include: "adjusted gross profit", "adjusted gross profit margin", “adjusted net income;” “adjusted diluted EPS;” “earnings before interest, taxes, depreciation and amortization (“EBITDA”);" "EBITDA margin;" “adjusted EBITDA;” and "adjusted EBITDA margin". These non-GAAP financial measures are provided to enhance the reader's overall understanding of our current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related items, and special charges. We also provide “free cash flow” (“FCF”) to enhance the reader’s understanding of our ability to generate additional cash from its business. Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into our results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP. The most directly comparable GAAP measures for adjusted gross profit and adjusted gross profit margin for total company are “gross profit” and “gross profit margin,” respectively, which include the impact of acquired profit in inventory. Adjusted gross profit margin is adjusted gross profit divided by net sales for total company. The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are “operating profit” and “operating profit margin,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related costs, and special charges. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related costs, and special charges. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation and amortization of acquired intangible assets. EBITDA margin is EBITDA divided by net sales for total company. The most directly comparable GAAP measure for adjusted EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related items, special charges, and miscellaneous (income) expense, net. Adjusted EBITDA margin is adjusted EBITDA divided by net sales for total company. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release. We define FCF as net cash provided by operating activities less purchases of property, plant and equipment. A calculation of this measure is available in this news release. Our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. Forward-Looking Information This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements include, but are not limited to, statements that describe or relate to our plans, initiatives, projections, vision, goals, targets, commitments, expectations, objectives, prospects, strategies, or financial outlook, and the assumptions underlying or relating thereto. In some cases, we may use words such as “expect,” “believe,” “intend,” “anticipate,” “estimate,” “forecast,” “indicate,” “project,” “predict,” “plan,” “may,” “will,” “could,” “should,” “would,” “potential,” and words of similar meaning, as well as other words or expressions referencing future events, conditions, or circumstances, to identify forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on our current beliefs, expectations, and assumptions, which may not prove to be accurate, and are subject to known and unknown risks and uncertainties, assumptions, and other important factors, many of which are outside of our control and any of which could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties are discussed in our filings with the U.S. Securities and Exchange Commission, including our most recent annual report on Form 10-K (including, but not limited to, the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. This press release is not comprehensive, and for that reason, should be read in conjunction with such filings. You are cautioned not to place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, or otherwise.     ACUITY INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In millions, except per-share data)     May 31, 2025 August 31, 2024 (unaudited)  ASSETS   Current assets:   Cash and cash equivalents$371.8  $845.8 Accounts receivable, less reserve for doubtful accounts of $2.6 and $1.9, respectively 608.6   563.0 Inventories 486.0   387.6 Prepayments and other current assets 122.6   75.1 Total current assets 1,589.0   1,871.5 Property, plant, and equipment, net 323.8   303.9 Operating lease right-of-use assets 77.8   65.6 Goodwill 1,492.6   1,098.7 Intangible assets, net 1,108.3   440.5 Deferred income taxes 21.1   2.3 Other long-term assets 33.7   32.1 Total assets$4,646.3  $3,814.6 LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$409.0  $352.3 Current operating lease liabilities 23.3   19.2 Accrued compensation 110.2   110.1 Other current liabilities 257.0   206.3 Total current liabilities 799.5   687.9 Long-term debt 996.7   496.2 Long-term operating lease liabilities 65.6   58.1 Accrued pension liabilities 37.8   37.5 Deferred income taxes 14.3   26.0 Other long-term liabilities 148.4   130.1 Total liabilities 2,062.3   1,435.8 Stockholders’ equity:   Preferred stock, $0.01 par value per share; 50.0 shares authorized; none issued —   — Common stock, $0.01 par value per share; 500.0 shares authorized; 54.9 and 54.6 issued, respectively 0.5   0.5 Paid-in capital 1,143.5   1,115.9 Retained earnings 4,177.1   3,909.8 Accumulated other comprehensive loss (114.6)  (114.9)Treasury stock, at cost, of 24.2 and 23.8 shares, respectively (2,622.5)  (2,532.5)Total stockholders’ equity 2,584.0   2,378.8 Total liabilities and stockholders’ equity$4,646.3  $3,814.6          ACUITY INC.CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)(In millions, except per-share data)     Three Months Ended Nine Months Ended May 31, 2025 May 31, 2024 May 31, 2025 May 31, 2024Net sales$1,178.6  $968.1  $3,136.5  $2,808.7 Cost of products sold 608.4   515.9   1,649.0   1,515.7 Gross profit 570.2   452.2   1,487.5   1,293.0 Selling, distribution, and administrative expenses 400.7   306.9   1,074.5   896.7 Special charges 29.7   —   29.7   — Operating profit 139.8   145.3   383.3   396.3 Other expense:       Interest expense (income), net 12.1   (1.8)  15.0   (1.0)Miscellaneous expense (income), net 2.3   (0.5)  5.8   1.2 Total other expense (income) 14.4   (2.3)  20.8   0.2 Income before income taxes 125.4   147.6   362.5   396.1 Income tax expense 27.0   33.7   79.9   92.4 Net income$98.4  $113.9  $282.6  $303.7         Earnings per share(1):       Basic earnings per share$3.19  $3.70  $9.14  $9.83 Basic weighted average number of shares outstanding 30.851   30.829   30.912   30.905 Diluted earnings per share$3.12  $3.62  $8.92  $9.67 Diluted weighted average number of shares outstanding 31.565   31.477   31.673   31.420 Dividends declared per share$0.17  $0.15  $0.49  $0.43  (1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding. ACUITY INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(In millions)   Nine Months Ended May 31, 2025 May 31, 2024Cash flows from operating activities:   Net income$282.6  $303.7 Adjustments to reconcile net income to cash flows from operating activities:   Depreciation and amortization 86.7   68.5 Share-based payment expense 34.0   34.9 Asset impairments 16.7   — Changes in operating assets and liabilities, net of acquisitions and divestitures:   Accounts receivable 10.4   42.5 Inventories 5.1   (1.2)Prepayments and other current assets (31.9)  (16.3)Accounts payable 38.1   40.4 Other operating activities (42.8)  (27.4)Net cash provided by operating activities 398.9   445.1 Cash flows from investing activities:   Purchases of property, plant, and equipment (43.6)  (41.0)Acquisition of business, net of cash acquired (1,189.4)  — Other investing activities (16.3)  (3.6)Net cash used for investing activities (1,249.3)  (44.6)Cash flows from financing activities:   Borrowings from term loan 600.0   — Repayments of term loan borrowings (100.0)  — Repurchases of common stock (91.3)  (88.7)Proceeds from stock option exercises and other 17.5   12.0 Payments of taxes withheld on net settlement of equity awards (24.0)  (10.4)Dividends paid (15.3)  (13.4)Other financing activities (9.3)  — Net cash provided by (used for) financing activities 377.6   (100.5)Effect of exchange rate changes on cash and cash equivalents (1.2)  1.1 Net change in cash and cash equivalents (474.0)  301.1 Cash and cash equivalents at beginning of period 845.8   397.9 Cash and cash equivalents at end of period$371.8  $699.0          ACUITY INC.DISAGGREGATED NET SALES(In millions)    The following tables show net sales by channel for the periods presented:     Three Months Ended   May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeAcuity Brands Lighting:       Independent sales network$685.3  $637.1  $48.2  7.6%Direct sales network 101.5   97.0   4.5  4.6%Retail sales 41.4   45.7   (4.3) (9.4)%Corporate accounts 35.5   60.5   (25.0) (41.3)%Original equipment manufacturer and other 59.5   58.2   1.3  2.2%Total Acuity Brands Lighting 923.2   898.5   24.7  2.7%Acuity Intelligent Spaces 264.1   75.7   188.4  248.9%Eliminations (8.7)  (6.1)  (2.6) 42.6%Total$1,178.6  $968.1  $210.5  21.7%                 Nine Months Ended   May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeAcuity Brands Lighting:       Independent sales network$1,944.4  $1,874.6  $69.8  3.7%Direct sales network 306.1   287.4   18.7  6.5%Retail sales 127.3   147.7   (20.4) (13.8)%Corporate accounts 103.8   140.1   (36.3) (25.9)%Original equipment manufacturer and other 168.2   168.6   (0.4) (0.2)%Total Acuity Brands Lighting 2,649.8   2,618.4   31.4  1.2%Acuity Intelligent Spaces 509.1   208.0   301.1  144.8%Eliminations (22.4)  (17.7)  (4.7) 26.6%Total$3,136.5  $2,808.7  $327.8  11.7%                ACUITY INC.Reconciliation of Non-U.S. GAAP Measures         The tables below reconcile certain GAAP financial measures to the corresponding non-GAAP measures for total Company as well as our reportable operating segments (in millions except per share data):                   Three Months Ended        May 31, 2025    May 31, 2024    Increase (Decrease) Percent ChangeNet sales$1,178.6     $968.1     $210.5  21.7%              Gross profit (GAAP)$570.2     $452.2     $118.0  26.1%Percent of net sales  48.4%   46.7%  170  bpsAdd-back: Acquired profit in inventory 19.2      —        Adjusted gross profit (Non-GAAP)$589.4     $452.2     $137.2  30.3%Percent of net sales  50.0%   46.7%  330  bps              Operating profit (GAAP)$139.8     $145.3     $(5.5) (3.8)%Percent of net sales (GAAP)  11.9%   15.0%  (310) bpsAdd-back: Amortization of acquired intangible assets 20.0      10.0        Add-back: Share-based payment expense 10.5      11.8        Add-back: Acquisition-related costs (1) 2.5      —        Add-back: Acquired profit in inventory 19.2      —        Add-back: Special charges 29.7      —        Adjusted operating profit (Non-GAAP)$221.7     $167.1     $54.6  32.7%Percent of net sales (Non-GAAP)  18.8%   17.3%  150  bps              Net income (GAAP)$98.4     $113.9     $(15.5) (13.6)%Add-back: Amortization of acquired intangible assets 20.0      10.0        Add-back: Share-based payment expense 10.5      11.8        Add-back: Acquisition-related costs (1) 2.5      —        Add-back: Acquired profit in inventory 19.2      —        Add-back: Special charges 29.7      —        Total pre-tax adjustments to net income 81.9      21.8        Income tax effects (18.8)     (5.0)       Adjusted net income (Non-GAAP)$161.5     $130.7     $30.8  23.6%              Diluted earnings per share (GAAP)$3.12     $3.62     $(0.50) (13.8)%Adjusted diluted earnings per share (Non-GAAP)$5.12     $4.15     $0.97  23.4%              Net income (GAAP)$98.4     $113.9     $(15.5) (13.6)%Percent of net sales (GAAP)  8.3%   11.8%  (350) bpsInterest expense (income), net 12.1      (1.8)       Income tax expense 27.0      33.7        Depreciation 14.6      12.9        Amortization of acquired intangible assets 20.0      10.0        EBITDA (Non-GAAP) 172.1      168.7      3.4  2.0%Percent of net sales (Non-GAAP)  14.6%   17.4%  (280) bpsShare-based payment expense 10.5      11.8        Acquisition-related costs (1) 2.5      —        Acquired profit in inventory 19.2      —        Miscellaneous expense (income), net 2.3      (0.5)       Special charges 29.7      —        Adjusted EBITDA (Non-GAAP)$236.3     $180.0     $56.3  31.3%Percent of net sales (Non-GAAP)  20.0%   18.6%  140  bps (1) Acquisition-related items include professional fees.   Three Months Ended    Acuity Brands Lighting May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeNet sales $923.2  $898.5  $24.7  2.7%         Operating profit (GAAP) $134.0  $151.5  $(17.5) (11.6)%Add-back: Amortization of acquired intangible assets  6.3   6.6     Add-back: Share-based payment expense  3.9   4.0     Add-back: Special charges  29.7   —     Adjusted operating profit (Non-GAAP) $173.9  $162.1  $11.8  7.3%         Operating profit margin (GAAP)  14.5%  16.9%  (240) bpsAdjusted operating profit margin (Non-GAAP)  18.8%  18.0%  80  bps                  Three Months Ended    Acuity Intelligent Spaces May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeNet sales $264.1  $75.7  $188.4  248.9%         Operating profit (GAAP) $27.4  $12.5  $14.9  119.2%Add-back: Amortization of acquired intangible assets  13.7   3.4     Add-back: Share-based payment expense  2.0   1.4     Add-back: Acquired profit in inventory  19.2   —     Adjusted operating profit (Non-GAAP) $62.3  $17.3  $45.0  260.1%         Operating profit margin (GAAP)  10.4%  16.5%  (610) bpsAdjusted operating profit margin (Non-GAAP)  23.6%  22.9%  70  bps                (In millions, except per share data)Nine Months Ended       May 31, 2025    May 31, 2024    Increase (Decrease) Percent ChangeNet sales$3,136.5     $2,808.7     $327.8  11.7%             Gross profit (GAAP)$1,487.5     $1,293.0     $194.5  15.0%Percent of net sales (GAAP)  47.4%   46.0%  140  bpsAdd-back: Acquired profit in inventory 29.6      —       Adjusted gross profit (Non-GAAP)$1,517.1     $1,293.0     $224.1  17.3%Percent of net sales (Non-GAAP)  48.4%   46.0%  240  bps             Operating profit (GAAP)$383.3     $396.3     $(13.0) (3.3)%Percent of net sales (GAAP)  12.2%   14.1%  (190) bpsAdd-back: Amortization of acquired intangible assets 45.5      29.9       Add-back: Share-based payment expense 34.0      34.9       Add-back: Acquisition-related costs (1) 21.2      —       Add-back: Acquired profit in inventory 29.6      —       Add-back: Special charges 29.7      —       Adjusted operating profit (Non-GAAP)$543.3     $461.1     $82.2  17.8%Percent of net sales (Non-GAAP)  17.3%   16.4%  90  bps             Net income (GAAP)$282.6     $303.7     $(21.1) (6.9)%Add-back: Amortization of acquired intangible asset 45.5      29.9       Add-back: Share-based payment expense 34.0      34.9       Add-back: Acquisition-related costs (1) 21.2      —       Add-back: Acquired profit in inventory 29.6      —       Add-back: Special charges 29.7      —       Total pre-tax adjustments to net income 160.0      64.8       Income tax effect (36.8)     (14.9)      Adjusted net income (Non-GAAP)$405.8     $353.6     $52.2  14.8%             Diluted earnings per share (GAAP)$8.92     $9.67     $(0.75) (7.8)%Adjusted diluted earnings per share (Non-GAAP)$12.81     $11.25     $1.56  13.9%             Net income (GAAP)$282.6     $303.7     $(21.1) (6.9)%Percent of net sales (GAAP)  9.0%   10.8%  (180) bpsInterest expense (income), net 15.0      (1.0)      Income tax expense 79.9      92.4       Depreciation 41.2      38.6       Amortization 45.5      29.9       EBITDA (Non-GAAP) 464.2      463.6      0.6  0.1%Percent of net sales (Non-GAAP)  14.8%   16.5%  (170) bpsShare-based payment expense 34.0      34.9       Miscellaneous expense, net 5.8      1.2       Special charges 29.7      —       Acquisition-related costs (1) 21.2      —       Acquired profit in inventory 29.6      —       Adjusted EBITDA (Non-GAAP)$584.5     $499.7     $84.8  17.0%Percent of net sales (Non-GAAP)  18.6%   17.8%  80  bps (1) Acquisition-related items include professional fees.   Nine Months Ended    Acuity Brands Lighting May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeNet sales $2,649.8  $2,618.4  $31.4  1.2%         Operating profit (GAAP) $407.6  $421.3  $(13.7) (3.3)%Add-back: Amortization of acquired intangible assets  19.0   19.7     Add-back: Share-based payment expense  12.4   11.3     Add-back: Special charges  29.7   —     Adjusted operating profit (Non-GAAP) $468.7  $452.3  $16.4  3.6%         Operating profit margin (GAAP)  15.4%  16.1%  (70) bpsAdjusted operating profit margin (Non-GAAP)  17.7%  17.3%  40  bps                  Nine Months Ended    Acuity Intelligent Spaces May 31, 2025 May 31, 2024 Increase (Decrease) Percent ChangeNet sales $509.1  $208.0  $301.1  144.8%         Operating profit (GAAP) $48.1  $26.9  $21.2  78.8%Add-back: Amortization of acquired intangible assets  26.5   10.2     Add-back: Share-based payment expense  5.5   4.8     Add-back: Acquired profit in inventory  29.6   —     Adjusted operating profit (Non-GAAP) $109.7  $41.9  $67.8  161.8%         Operating profit margin (GAAP)  9.4%  12.9%  (350) bpsAdjusted operating profit margin (Non-GAAP)  21.5%  20.1%  140  bps                 Nine Months Ended      May 31, 2025 May 31, 2024 Increase (Decrease) Percent Change Net cash provided by operating activities (GAAP)$398.9  $445.1  $(46.2) (10.4)%Less: Purchases of property, plant, and equipment (43.6)  (41.0)     Free cash flow (Non-GAAP)$355.3  $404.1  $(48.8) (12.1)%                Investor Contact:Charlotte McLaughlinVice President, Investor Relations(404) 853-1456investorrelations@acuityinc.com Media Contact:April ApplingSenior Vice President, Corporate Marketing and Communicationscorporatecommunications@acuityinc.com

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