Acuity Brands Reports Fiscal 2024 Fourth-Quarter and Full-Year Results
Strong Execution in the Fourth-Quarter Delivered Net Sales Growth, Margin Expansion and EPS Growth with Significant Cash Flow Generation
1 Q4’24 Adjusted diluted EPS is adjusted net income ($135.5M) divided by QTD diluted weighted average shares outstanding (31.512M). Adjusted Net Income is calculated as Net Income ($118.9M), plus amortization of intangible assets ($9.8M), plus share-based payment expense ($11.7M), minus income tax effects ($4.9M). FY’24 Adjusted diluted EPS is adjusted net income ($489.1M) divided by YTD diluted weighted average shares outstanding (31.445M). Adjusted Net Income is calculated as Net Income ($422.6M), plus amortization of intangible assets ($39.7M), plus share-based payment expense ($46.6M), minus income tax effects ($19.8M).
Corporate Overview
Acuity Brands, Inc. is a market-leading industrial technology company. We use technology to solve problems in spaces, light and more things to come. Through our two business segments, Acuity Brands Lighting and Acuity Intelligent Spaces, we design, manufacture and bring to market products and services that make a valuable difference in people’s lives.
We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions and location-aware applications. We achieve customer-focused efficiencies that allow us to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals.
Based in Atlanta, Georgia, with operations across North America, Europe and Asia, we are powered by approximately 13,000 dedicated and talented associates.
Sustainable, inspiring, and intelligent lighting solutions. A comprehensive product portfolio of lighting, controls and components
Making buildings smarter, safer, and greener through delivering open, market-leading edge to cloud solutions
Our strategy is manifested through EarthLIGHT. It is the way we coordinate our efforts around ESG
We grow net sales, we turn those profits into cash, and we don't grow the balance sheet as fast
Combining our Better, Smarter, Faster, operating system and our values in order to operate more efficiently with greater distribution of responsibility and accountability
Long-term value creation through effective capital allocation
Our Leaders
Neil M. Ashe has served as President and CEO of the Acuity Brands since January 2020. He has served as Chairman since January 2021. Prior to joining Acuity Brands, he served as CEO of Faster Horses LLC from February 2017 to December 2019; as President and Chief Executive Officer of Global eCommerce & Technology at Walmart, Inc. from January 2012 through January 2017; as President of CBS Interactive from July 2008 through July 2011; and as Chief Executive Officer of CNET Networks, Inc. from 2006 to 2008. He received a BS in Business Administration from Georgetown University and has an MBA from the Harvard Business School.
Karen Holcom, Senior Vice President and Chief Financial Officer, has more than 30 years of financial experience. Karen’s been with Acuity Brands since its inception in 2001 and leads the company's financial strategy and investor relations. Karen works closely with the Board of Directors and the Chief Executive Officer to help the company achieve its bold growth ambitions. Her expertise and insight play a pivotal role in the realization of Acuity's vision, including guiding the company's capital allocation strategy to drive long-term value creation.
As part of her passion for DEI in the workplace, she serves as the Executive Sponsor of Acuity's Women's Network Employee Resource Group.
Before Acuity Brands, Karen served as Director, Planning and Analysis, National Service Industries, Inc. (NSI) (1998-2001).
She serves on the Board of Directors for the Atlanta Police Foundation and the Georgia Chamber of Commerce.
Karen is a Certified Public Accountant.
She earned a BS degree in Accounting from Clemson University and an MBA from Georgia State University.
