NEW YORK - Acuity Brands, Inc. (NYSE:AYI) reported mixed first quarter fiscal 2025 results on Wednesday, with earnings beating expectations but revenue falling short of estimates.
Acuity Brands shares edged down 0.29% in early trading following the revenue miss.
The industrial technology company posted adjusted earnings per share of $3.97, surpassing the analyst consensus of $3.89. However, revenue came in at $952 million, missing the $957.65 million analysts were expecting.
Net sales increased 1.8% year-over-year to $951.6 million in Q1. The company's Acuity Brands Lighting segment saw sales rise 1.1% to $886 million, while the Acuity Intelligent Spaces segment reported 14.5% growth to $73.5 million.
Adjusted operating profit grew 3.1% to $158.7 million, with adjusted operating margin expanding 20 basis points to 16.7%.
"We delivered sales growth, increased our adjusted operating profit and adjusted operating profit margin, and increased our adjusted diluted earnings per share," said Neil Ashe, Chairman, President and CEO of Acuity Brands.
The company also announced it completed the acquisition of QSC, LLC on January 1, 2025 for a gross purchase price of $1.215 billion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.