Acuity Brands Clocks 18% Revenue Growth In Q3, Beats Street Expectation - Acuity Brands (NYSE:AYI)

Acuity Brands, Inc. AYI reported third-quarter FY22 net sales growth of 17.9% year-over-year to $1.1 billion, beating the consensus of $985.42 million.
Adjusted EPS improved to $3.52 (+27.1% Y/Y), beating the consensus of $2.96.
Sales by segments: Acuity Brands Lighting and Lighting Controls $1 billion (+18.6% Y/Y) and Intelligent Spaces Group $58.3 million (+5.2% Y/Y).
Gross margin for the quarter contracted by 100 bps to 41.9%. The operating profit increased by 20.8% Y/Y to $143 million, and the margin expanded by 33 bps to 13.5%.
Adjusted operating margin expanded by 10 bps to 15.3%.
Acuity Brands generated cash from operating activities year-to-date of $165.7 million (-47.6% Y/Y).
Adjusted EBITDA increased by 16.2% Y/Y to $176.1 million, and margin contracted by 25 bps to 16.6%.
AYI repurchased 2.3 million shares of common stock YTD for $405 million.
The company also issued a separate statement on the appointment of Marcia J. Avedon as an Independent Director.
Dividend: AYI board declared a quarterly dividend of $0.13 per share, payable on August 1, 2022, to shareholders of record on July 15, 2022.
Price Action: AYI shares are trading higher by 0.24% at $156.12 during the market session on Thursday.