Acuity Inc. · NYSE:AYI
Acuity — Acuity Brands — Q1 2022 Earnings Presentation
18 slides from Acuity's earnings presentation, Jan 7, 2022
Slide 1: Acuity Brands (AYI) First Quarter Fiscal 2022 Results
Acuity Brands (AYI) First Quarter Fiscal 2022 Results
Slide 2: Forward Looking Statements
2 Forward Looking Statements This presentation and the related conference call and webcast and press-release include “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, that are
Slide 3: Non-GAAP financial measures
3 This presentation 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; “adjusted net income;” “adjusted diluted earnings per share (“EPS'”)” “earnings be
Slide 4: Fiscal Q1'22 Key Achievements
4 Fiscal Q1’22 Key Achievements Satisfying Customer Demand to Drive Sales Growth, While Continuing to Invest in Long-Term Growth and Transformation Delivered Sales Growth of 17% in Q1’22 VPY Increased Diluted EPS by 57% in Q1’22 VPY Aggressive Management of Ongoing Global Supply Chain Challeng
Slide 5: AYI: Fiscal Q1'22 Performance
AYI: Fiscal Q1’22 Performance Gross Profit Margin Operating Margin Net Sales Improvements Across Sales and Profitability Metrics Adjusted Operating Margin1 Diluted EPS Adjusted Diluted EPS1 ($ In Millions, except for EPS) Net Sales Growth 1 Adjusted Operating Profit, EBITDA, Adjusted EBITDA and Adju
Slide 6: ABL: Fiscal Q1'22 Performance
ABL: Fiscal Q1’22 Performance Focus on Product Vitality, Service Levels and Using Technology to Differentiate 1 ABL Adjusted Operating Profit is Reconciled on Slides 17 Operating Margin Net Sales ($ In Millions) Net Sales Growth $754 $884 Q1'21 Q1'22 13.1% 14.4% (5.6%) 14.5% 15.6% 17.3% Adjusted Ope
Slide 7: ISG: Fiscal Q1'22 Performance
ISG: Fiscal Q1’22 Performance Making Spaces Smarter, Safer and Greener 1 ISG Adjusted Operating Profit is Reconciled on 18 7 Operating Margin Net Sales ($ In Millions) Net Sales Growth $41 $46 Q1'21 Q2'22 (0.2%) 9.1% 3.8% 4.3% 13.1% 13.7% Adjusted Operating Margin1
Slide 8: Q1'22 Capital Allocation
Q1’22 Capital Allocation 8 $84M Operating Cash Flow $9M CapEx $53M Share Repurchase Creating Permanent Value for Shareholders Capital Allocation Priorities Reinvestment in Growth Inventory Investment CapEx M&A Osram Digital Systems Integration Dividend Maintained Share Repurchases 0.3M Shares
Slide 9: Appendix and Non-GAAP Reconciliations
Appendix and Non-GAAP Reconciliations 9
Slide 10: 2022 Financial Framework
2022 Financial Framework As Communicated on the Q4'21 and FY'21 Earnings Call 10 ABL Full Year Revenue Growth: High Single Digits ISG Full Year Revenue Growth: Mid-Teens AYI Full Year Gross Profit Margin: 42+ Percent Capital Allocation Priorities Investment in Growth Investment in M&A
Slide 11: AYI Quarterly Trends
11 AYI Quarterly Trends Gross Profit Margin Operating Margin Net Sales 42.0%41.7% 43.4% 43.0% 10.8%9.9% 11.7% 13.1% Adjusted Operating Margin1 Diluted EPS Adjusted Diluted EPS1 13.2%12.3% 14.0% 15.2% $1.57$1.44 $1.74 $2.37 $2.03$1.84 $2.12 $2.77 42.2% 10.7% 13.5% $1.52 $1.94 ($ In Millions) Net Sale
Slide 12: ABL Quarterly Trends
ABL Quarterly Trends $788.2 $741.6 $853.1 $753.6 $736.8 $850.0 $946.9 $883.6 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Net Sales Growth Operating Margin Net Sales Adjusted Operating Margin1 (In $Millions) 12.2% 13.5% 13.3% 14.6% 14.3% 15.4% (5.6%) 13.1% 14.4% (6.5%) 13.8% 15.2% 14.6% 14.9% 16.
Slide 13: ISG Quarterly Trends
ISG Quarterly Trends $39.1 $37.7 $40.9 $40.8 $43.3 $55.4 $50.5 $46.4 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Net Sales Growth Operating Margin Net Sales Adjusted Operating Margin1 (In $Millions) (8.7%) 5.4% (0.5%) 13.3% (3.9%) 5.1% 3.8% (0.2%) 9.1% 10.7% 1.8% 11.1% 46.9% 13.0% 20.0% 1 Adjust
Slide 14: AYI Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Margin
14 AYI Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2021 Nov. 30, 2020 Operating Profit (GAAP) $91.0 $81.4 $115.1 $85.7 + Amortization of acquired intangible assets 10.
Slide 15: AYI Reconciliation: Adjusted Net Income and Adjusted EPS
15 AYI Quarterly Reconciliation of Non-GAAP Measures: Adjusted Net Income and Adjusted Earnings Per Share (In Millions Except Per Share Data) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov.30, 2021 Nov.30, 2020 Net Income (GAAP) $62.9 $57.2 + Amortization of acquired intangible assets 10.1 10.4 + Sh
Slide 16: AYI Reconciliation: EBITDA and Adjusted EBITDA
16 AYI Quarterly Reconciliation of Non-GAAP Measures: EBITDA and Adjusted EBITDA (In Millions) Nov.30, 2021 Nov.30, 2020 Net Income (GAAP) + Interest expense, net + Income tax expense + Depreciation Adjusted EBITDA (Non-GAAP) + Amortization First Quarter $59.6$87.6 4.95.9 19.621.3 14.914.0 $119.1$14
Slide 17: ABL Quarterly Reconciliation of Non-GAAP Measures
17 ABL Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2021 Nov. 30, 2020 Operating Profit (GAAP) $102.0 $95.8 $98.4$128.1 + Amortization of acquired intangible assets 6.9
Slide 18: ISG Quarterly Reconciliation of Non-GAAP Measures
18 ISG Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Segment Breakdown (ISG) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2021 Nov. 30, 2020 Operating Profit (Loss) (GAAP) $0.8 ($3.4) ($0.1)$2.0 + Amortization of a