Slide 1: Fiscal 2024 Second Quarter Results
STITCH from A.Light FISCAL 2024 SECOND QUARTER RESULTS APRIL 3, 2024
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation and related conference call Statements that describe or relate to the These risks and uncertainties are discussed in and webcast include “forward-looking Company’s plans, goals, intentions, strategies, or our filings with the U.S. Securities and Exchange
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES We disclose the following non-generally accepted accounting more on technology and software. Non-GAAP financial measures “net income”, which includes the impact of net interest principles ("GAAP") financial measures: “adjusted gross profit”, included in this news release
Slide 4: Acuity Brands, Inc.
AYI: ACUITY BRANDS, INC. INTERSECTION OF SUSTAINABILITY OUR COMPETITIVE ADVANTAGE AND TECHNOLOGY Our Values Our Operating System Integrity Time Curiosity Owner’s Mindset Customer Obsessed People Community Gotham® Lighting: Elite Staffing, Inc. HOW WE CREATE VALUE EFFECTIVE CAPITAL ALLOCATION Our Bus
Slide 5: Fiscal 2024 Second Quarter Performance
AYI: FISCAL 2024 SECOND QUARTER PERFORMANCE ($ in Millions, Except Per Share Data) AYI NET SALES AYI ADJUSTED DILUTED EPS1 (4%) 11% Continued Strong Execution $944 $906 $3.38 $3.06 Increased Adjusted Operating Profit1 by 6 Percent and Expanded Adjusted Operating Profit Margin1 by 150 bps Q2'23 Q2'24
Slide 6: ABL: Acuity Brands Lighting and Lighting Controls
ABL: ACUITY BRANDS LIGHTING AND LIGHTING CONTROLS FISCAL 2024 SECOND QUARTER PERFORMANCE Luminis®: Omni PGA Frisco Resort ($ in Millions) PREDICTABLE, REPEATABLE, SCALABLE ABL NET SALES ABL ADJUSTED OPERATING PROFIT1 ABL ADJUSTED OPERATING PROFIT MARGIN1 (5%) 2% 120bps $891 $844 $136 $133 16.2% 15.0
Slide 7: ISG: Intelligent Spaces Group
ISG: INTELLIGENT SPACES GROUP FISCAL 2024 SECOND QUARTER PERFORMANCE Distech Controls®: Refuge du Goûter CONNECTING THE EDGE TO THE CLOUD EXPANDING DISTECH’S ADDRESSABLE MARKET ($ in Millions) SMARTER, SAFER, GREENER ISG NET SALES ISG ADJUSTED OPERATING PROFIT1 ISG ADJUSTED OPERATING PROFIT MARGIN1
Slide 8: Fiscal 2024 Year to Date Capital Allocation
FISCAL 2024 YEAR TO DATE CAPITAL ALLOCATION Invest for Growth in our Current Businesses $293M Operating Cash Flow Invest in M&A $29M CapEx Increase our Dividend $68M Repurchase Shares to Create Permanent Shareholder Value Share Repurchases NYSE: AYI 8
Slide 9: Fiscal 2024 Outlook
FISCAL 2024 OUTLOOK AYI Net Sales Range1 $3.7B to $4.0B ABL Net Sales Down Low to Mid-Single Digits ISG Net Sales Up Mid Teens Adjusted Diluted EPS Range1 $14.75 to $15.50 1 Management estimates are based on multiple quantitative and qualitative inputs and contains forward-looking information; pleas
Slide 10: Quarterly Trends
QUARTERLY TRENDS The NYC Experience Center by Acuity Academy NYSE: AYI 10
Slide 11: AYI: Quarterly Trends
AYI: QUARTERLY TRENDS ($ in Millions, Except Per Share Data) $1,110 $1,061 $998 $1,000 $1,010 $944 $935 $926 $909 $906 Net Sales Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales Growth 16.9% 17.1% 17.9% 11.8% 7.8% 3.8% (5.7%) (9.0%) (6.3%) (4.0%) Gross Profit Margin (GAAP) 41.7%
Slide 12: ABL Quarterly Trends
ABL QUARTERLY TRENDS ($ in Millions) $1,055 $1,008 $947 $941 $944 $884 $891 $876 $863 Net Sales $844 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales Growth 17.3% 17.1% 18.6% 11.4% 7.2% 3.2% (6.7%) (10.5%) (7.5%) (5.3%) Operating Margin (GAAP) 14.5% 13.5% 14.8% 14.4% 12.5% 13.9%
Slide 13: ISG Quarterly Trends
ISG QUARTERLY TRENDS ($ in Millions) $72 $68 $66 $64 $61 $58 $57 $58 $50 $46 Net Sales Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales Growth 13.7% 15.5% 5.2% 21.6% 22.4% 16.4% 12.9% 17.1% 13.0% 17.0% Operating Margin (GAAP) 4.3% 2.4% 15.8% 16.8% 13.6% 10.8% 13.1% 13.1% 8.3% 13
Slide 14: Appendix: Reconciliation of Non-GAAP Measures
APPENDIX Reconciliation of Non-GAAP Measures The NYC Experience Center by Acuity Academy NYSE: AYI 14
Slide 15: Adjusted Gross Profit and Adjusted Gross Profit Margin
AYI: ADJUSTED GROSS PROFIT AND ADJUSTED GROSS PROFIT MARGIN ($ in Millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $926 $909 $1,061 $1,110 $998 $944 $1,000 $1,010 $935 $906 Gross Profit (GAAP) 386 379 445 463 417 407 447 443 428 412 Gross Profit Margin (GAAP) 41.7% 41.
Slide 16: Adjusted Operating Profit and Adjusted Operating Profit Margin
AYI: ADJUSTED OPERATING PROFIT AND ADJUSTED OPERATING PROFIT MARGIN ($ in Millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $926 $909 $1,061 $1,110 $998 $944 $1,000 $1,010 $935 $906 Operating Profit (GAAP) 115 102 143 150 109 112 143 110 133 118 Operating Profit Margin
Slide 17: Adjusted Net Income and Adjusted Diluted Earnings Per Share
AYI: ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE ($ in Millions, Except Per Share Data) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $926 $909 $1,061 $1,110 $998 $944 $1,000 $1,010 $935 $906 Net income (GAAP) 88 75 106 115 75 83 105 83 101 89 Adjustments Add-
Slide 18: EBITDA and Adjusted EBITDA
AYI: EBITDA AND ADJUSTED EBITDA ($ in Millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $926 $909 $1,061 $1,110 $998 $944 $1,000 $1,010 $935 $906 Net Income (GAAP) 88 75 106 115 75 83 105 83 101 89 Net Income as a Percent of Net Sales (GAAP) 9.5% 8.3% 10.0% 10.4% 7.5% 8
Slide 19: ABL: Adjusted Operating Profit and Adjusted Operating Profit Margin
ABL: ADJUSTED OPERATING PROFIT AND ADJUSTED OPERATING PROFIT MARGIN ($ in Millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $884 $863 $1,008 $1,055 $947 $891 $941 $944 $876 $844 Operating Profit (GAAP) 128 117 150 151 118 124 150 118 144 126 Operating Profit Margin (GAA
Slide 20: ISG: Adjusted Operating Profit and Adjusted Operating Profit Margin
ISG: ADJUSTED OPERATING PROFIT AND ADJUSTED OPERATING PROFIT MARGIN ($ in Millions) Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Net Sales $46 $50 $58 $61 $57 $58 $66 $72 $64 $68 Operating Profit (GAAP) 2 1 9 10 8 6 9 9 5 9 Operating Profit Margin (GAAP) 4.3% 2.4% 15.8% 16.8% 13.6% 10