Acuity Brands, Inc. - AYI STOCK NEWS

Acuity Brands (NYSE: AYI) has announced its plan to acquire KE2 Therm Solutions, a company specializing in intelligent refrigeration control solutions. This acquisition will extend Acuity's market reach into the commercial refrigeration sector, targeting the transition from analog to digital controls. The deal, expected to close in spring 2023, will integrate KE2 Therm into Acuity's Distech Controls within the Intelligent Spaces Group. Acuity aims to leverage KE2 Therm's technology to enhance customer access and unlock new opportunities, ultimately improving profitability through increased efficiency. Both companies will operate independently until the acquisition finalizes.

Acuity Brands reported net sales of $943.6 million for Q2 fiscal 2023, a 3.8% increase year-over-year. The company achieved a 21% rise in diluted EPS, reaching $2.57, while adjusted diluted EPS rose by 19% to $3.06. Operating profit grew by 9% to $111.5 million, with overall operating profit margin improving by 50 basis points to 11.8%. The Lighting and Lighting Controls segment generated $890.8 million in sales, up 3.2%, while the Intelligent Spaces Group saw a 16.4% increase to $58.2 million. Strong cash flow from operations totaled $306.4 million for the first half of the fiscal year.

Acuity Brands, Inc. (NYSE: AYI) announced a quarterly dividend of 13 cents per share, payable on May 1, 2023, to shareholders on record as of April 17, 2023. The company, a leader in industrial technology, operates two main segments: Acuity Brands Lighting and Lighting Controls and the Intelligent Spaces Group. They focus on innovation in products and services related to lighting and building management systems, aiming for market share growth and superior returns. Acuity is headquartered in Atlanta and employs over 13,000 associates globally.

Acuity Brands, Inc. (NYSE: AYI) will release its fiscal 2023 second-quarter earnings on April 4, 2023, at 6:00 a.m. (EST). This will be followed by a conference call at 8:00 a.m. (EST), led by CEO Neil Ashe. Investors can access the earnings release, webcast, and supplementary materials through the Investor Relations section of the company's website. Acuity Brands operates through two segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG), focusing on innovative solutions in lighting and building management. The company is headquartered in Atlanta and employs over 13,000 people worldwide.

The Board of Directors of Acuity Brands (NYSE: AYI) declared a quarterly dividend of 13 cents per share, payable on February 14, 2023. Shareholders of record as of February 6, 2023 will receive this payment. This adjustment reflects a change in the quarterly board meeting schedule. Acuity Brands is a leading industrial technology company focusing on innovative products and services in lighting and intelligent spaces. The company aims for growth through capital deployment and market expansion, supported by over 13,000 associates globally.

Acuity Brands (AYI) reported a strong start to fiscal 2023 with net sales of $997.9 million, marking an 8% increase year-over-year. Despite a 7% drop in diluted EPS to $2.29, adjusted diluted EPS rose 15% to $3.29. Operating profit decreased by 5.4% to $108.9 million, with an adjusted operating profit increase of 5.3% to $140.1 million. The company generated $187 million in cash flow from operations and repurchased 0.5 million shares. The sale of its Sunoptics business resulted in $22.1 million in special charges.

Applied UV, Inc. (NASDAQ:AUVI) is set to double its size through the strategic acquisition of PURO Lighting, LLC and LED Supply Co., with a combined deal value of approximately $20 million, effective December 19, 2022. These acquisitions are expected to enhance distribution of FDA-cleared disinfection products, aiming for an estimated $18 million in additional revenue within 12 months. The company anticipates generating $45-$50 million in revenues for FY 2023, supported by potential cost synergies that could improve profitability.