Acuity Brands, Inc. - AYI STOCK NEWS

Acuity Brands (NYSE: AYI) announced its commitment to achieving Net Zero emissions by 2040, as outlined in its Fiscal Year 2022 EarthLIGHT Report. The company aims to minimize its carbon footprint by collaborating with the Science-Based Targets Initiative to establish interim targets for reducing Scope 1, 2, and 3 emissions. Significant accomplishments include plans to avoid 100 million metric tons of carbon emissions through innovative products and improvements in diversity and inclusion efforts. Acuity's focus on sustainability positions it well in a technology-driven market.

Acuity Brands, Inc. (NYSE: AYI) announced the retirement of Board members Dominic J. Pileggi and Ray M. Robinson, effective January 25, 2023. They will not seek reelection at the upcoming Annual Meeting. Chairman Neil M. Ashe expressed gratitude for their significant contributions and leadership. Pileggi joined the Board in September 2012, serving in various key roles, while Robinson has been a member since the company's founding in December 2001. Their retirements may signal a transition period for the Board as Acuity continues to innovate in lighting and building management solutions.

Included Health has announced the appointment of Michael Bender to its Board of Directors, succeeding Hill Ferguson, the former CEO of Doctor On Demand, who has stepped down as previously planned during the merger with Grand Rounds Health. Bender brings over 30 years of experience in healthcare and consumer-facing organizations, having held leadership roles at Eyemart Express and Walmart. Owen Tripp, the current CEO, expressed confidence in Bender's ability to tackle industry challenges and emphasized the company's mission to lead in integrated care delivery.

Acuity Brands reported record net sales of $1.11 billion for Q4 FY2022, a 12% increase, with diluted EPS at $3.48, up 28%. For the full year, net sales reached $4.01 billion, a 15.7% growth. Gross profit was $1.7 billion with a margin of 41.8%. Operating profit also increased to $509.7 million, a 19.2% rise. The company repurchased $512 million in shares during FY2022. Despite these results, gross profit margin slightly decreased year-over-year. Notably, net cash from operations fell by 22.6% as investments in working capital increased.

Acuity Brands, Inc. (NYSE: AYI) declared a quarterly dividend of 13 cents per share, payable on November 1, 2022, to shareholders of record on October 17, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. Acuity Brands, a leader in industrial technology, operates in two segments: Acuity Brands Lighting and Intelligent Spaces Group. The company focuses on innovation in lighting and building management systems, aiming to increase market share and deliver superior returns.

Acuity Brands, Inc. (NYSE: AYI) has expanded its Board of Directors from 11 to 12 members by electing Michael J. Bender as an Independent Director, effective September 29, 2022. Bender, who has extensive leadership experience across various industries, including retail and healthcare, will serve on the Audit and Governance Committees. His involvement is anticipated to bring valuable insights during a significant transformation phase for the company, according to Chairman Neil M. Ashe.

Acuity Brands, Inc. (NYSE: AYI) will release its fiscal 2022 fourth-quarter and full-year earnings results on October 4, 2022, at 6:00 a.m. (EDT). This will be followed by a conference call led by CEO Neil Ashe at 8:00 a.m. (EDT). Interested parties can access the earnings release and supplemental presentation via the Investor Relations section of the website post-release. Acuity Brands is a leader in industrial technology, focusing on innovative lighting solutions and building management systems to enhance customer experience and operational efficiency.

Acuity Brands, Inc. (NYSE: AYI) announced the appointment of Philippe Brzusczak as Senior Vice President of Corporate Development and Strategy. He will focus on evaluating mergers and acquisitions, assessing the competitive landscape, and fostering strategic relationships. With a strong background in corporate finance and M&A, including over $20B in transactions at J.P. Morgan, Brzusczak aims to enhance the company’s growth strategy. Acuity Brands operates two segments, lighting solutions and intelligent spaces, employing about 13,500 associates globally.

Acuity Brands, Inc. (NYSE: AYI) announced an increase in its Board of Directors from 10 to 11 members, electing Dr. Marcia J. Avedon as an Independent Director effective June 29, 2022. Dr. Avedon, with over two decades of experience in leadership and governance, previously served as Executive Vice President at Trane Technologies PLC. Her role includes participation in the Governance and Compensation and Management Development Committees. Chairman Neil M. Ashe expressed confidence in her ability to contribute to the company's ongoing transformation and shareholder value enhancement.