ACUITY INC, Stock Price, News & Analysis

QSC Asia has announced the opening of its seventh Q-SYS Experience Center in Hong Kong, marking a significant expansion in the Asia-Pacific region. Located near the Hong Kong West Kowloon station, the center provides easy access for partners and customers in Hong Kong and the Greater Bay Area of China.

The facility showcases Q-SYS audio, video, and control technology in real-world applications for corporate and higher education settings. Visitors can experience advanced features including multicamera switching, room automation, and presenter tracking. The center also includes a dedicated Q-SYS training facility where technical experts will conduct hands-on training sessions using the award-winning curriculum.

QSC has announced the launch of the Q-SYS NV Series NV-1-H-WE, a single-channel HDMI wallplate encoder for network video distribution. This new product is designed for spaces where traditional surface-mount enclosures are impractical, such as flexible spaces and areas with reconfigurable furniture.

The NV-1-H-WE joins the Q-SYS NV Series portfolio, which includes the NV-32-H multi-stream video endpoint and NV-21-HU dual-channel endpoint. The series supports distribution of visually lossless, low-latency video signals up to 4K60 4:4:4 using Q-SYS Shift™ technology, which efficiently manages network bitrate by refreshing only frame changes.

As native Q-SYS peripherals, these devices integrate seamlessly into Q-SYS systems, enabling no-code deployments and automated solutions without additional management hardware.

QSC has introduced the KC12 'K Column' Active 3-Way Column Loudspeaker System, a groundbreaking 3000-watt active loudspeaker system. The KC12 combines the visual appeal of a column loudspeaker with superior acoustic performance, featuring QSC's patented LEAF™ waveguide, a 1-inch compression driver, two 4-inch midrange drivers, and a 12-inch subwoofer.

Key features include 145 degrees horizontal coverage, three inputs (Bluetooth with TWS capability, 3.5mm TRS stereo, and two combo XLR inputs), and a multi-function digital display for controlling various functions. The system, available in black and white, is designed for versatile applications from solo entertainers to corporate events and installations. The KC12 comes with a 6-Year Extended Warranty upon registration.

Acuity Brands (NYSE: AYI) reported strong fiscal 2025 first-quarter results with net sales of $951.6 million, up 1.8% year-over-year. The company achieved an operating profit of $133.3 million and adjusted operating profit of $158.7 million, up 3.1% from the previous year.

Key highlights include diluted EPS of $3.35, a 4.4% increase, and adjusted diluted EPS of $3.97, up 6.7%. The Lighting segment generated sales of $886.0 million, while Intelligent Spaces saw a 14.5% growth to $73.5 million.

Post-quarter, Acuity completed the acquisition of QSC, for a gross purchase price of $1.215 billion, expanding their Intelligent Spaces capabilities into cloud-manageable audio, video, and control. The company also continued its share repurchase program, buying back approximately 17,000 shares for $5 million during the quarter.

Acuity Brands (NYSE: AYI) has rescheduled its fiscal 2025 first-quarter results announcement to Wednesday, January 8, 2025 at 6:00 a.m. (EST), moving it one day earlier than originally planned. The change is due to the observance of the National Day of Mourning for former President Jimmy Carter.

A conference call led by Chairman, President and CEO Neil Ashe will follow at 8:00 a.m. (EST). The earnings release, webcast, and supplemental presentation will be available through the company's Investor Relations website. A replay of the call will be posted two hours after completion and archived on the website.

Acuity Brands (NYSE: AYI) has released its 2024 EarthLIGHT Report, highlighting ESG achievements and strategic progress. The report showcases improved operating performance and financial results in fiscal 2024. The company achieved top 5% ranking in Associate Engagement Survey among high-performing companies.

Key environmental accomplishments include enabling an estimated 34 million metric tons of greenhouse gas avoidance from 2020-2024 through their products and services. The company enhanced operational efficiency by installing a Tesla Megapack at Santa Rosa Production Facility and implementing water conservation practices at Mexican facilities.

Acuity Brands (NYSE: AYI) has announced it will release its fiscal 2025 first-quarter results on January 9, 2025, at 6:00 a.m. (EST). The announcement will be followed by a conference call at 8:00 a.m. (EST), led by Neil Ashe, Chairman, President, and Chief Executive Officer. The earnings release, webcast, and supplemental presentation will be accessible through the company's Investor Relations website. A replay of the call will be available online and archived on the website two hours after the conference call concludes.

QSC, a leader in audiovisual solutions, has announced a definitive agreement to be acquired by Acuity Brands. QSC will be integrated into Acuity's Intelligent Spaces Group, focusing on creating smarter, safer, and greener spaces through data-driven technologies. The merger aims to enhance the role of AV technology in live, hybrid, and virtual experiences. QSC's expertise ranges from pro audio to Q-SYS platform solutions, while Morgan Stanley & Co. serves as QSC's financial advisor with Proskauer Rose LLP providing legal counsel.

Acuity Brands (NYSE: AYI) has announced a definitive agreement to acquire QSC, for $1.215 billion, or $1.1 billion net of tax benefits. The acquisition targets QSC's cloud-manageable audio, video, and control platform business, which generated sales of approximately $535 million for the twelve months ending August 31, 2024. The net purchase price represents about 14 times QSC's estimated EBITDA. The transaction will be funded through $600 million in term loan financing and cash reserves, with closing expected in Q2 fiscal 2025. The deal is anticipated to be accretive to Acuity's fiscal 2025 full-year adjusted diluted earnings per share.