Overview

• Industrial technology firm's fiscal Q3 net sales rose 2%, beating analyst expectations

• Adjusted EPS for fiscal Q3 beat consensus, rising 4% year-over-year

• Company generated strong cash flow and repurchased $230 mln in shares year to date

Outlook

• Company did not provide specific financial guidance for the current quarter or full year in the press release

Result Drivers

• AIS SEGMENT GROWTH - Strong sales and profit growth in Acuity Intelligent Spaces offset declines in the lighting segment

• ABL SEGMENT DECLINE - Lower sales and adjusted operating profit in Acuity Brands Lighting weighed on overall results

Company press release: ID:nGNXPV6bf

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Net sales	Beat	$1.20 bln	$1.18 bln (7 Analysts)
Q3 Adjusted EPS	Beat	$5.31	$5.19 (8 Analysts)
Q3 EPS		$4.56
Q3 Net Income		$141 mln
Q3 Adjusted Operating Profit	Beat	$224 mln	$212.46 mln (6 Analysts)
Q3 Operating Profit		$193.30 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

• Wall Street's median 12-month price target for Acuity Inc is $331.39, about 8.5% above its June 24 closing price of $305.51

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

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