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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

_____________________________________________
FORM 8-K
_____________________________________________

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 26, 2025
_____________________________________________
ACUITY INC.
(Exact name of registrant as specified in its charter)
_____________________________________________
Delaware001-1658358-2632672
(State or other jurisdiction of
incorporation or organization)		(Commission File Number)(IRS. Employer
Identification Number)

1170 Peachtree Street, N.E., Suite 1200, Atlanta, Georgia 30309
(Address of principal executive offices)
(404) 853-1400
(Registrant’s telephone number, including area code)
Acuity Brands, Inc.
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $0.01 par value per shareAYINew York Stock Exchange
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 




Item 2.02. Results of Operations and Financial Condition.
On June 26, 2025, Acuity Inc. (“we,” “our,” “us,” “the Company,” or similar references) issued a press release containing information about our results of operations for our fiscal quarter ended May 31, 2025. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, which is incorporated herein by reference. The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
 
(d)Exhibits

99.1
104Cover Page Interactive Data File (embedded within the inline XBRL document).
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 26, 2025
ACUITY INC.
By:/s/ Karen J. Holcom
Karen J. Holcom
Senior Vice President and Chief Financial Officer


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Press Release
Exhibit 99.1

Investor Contact:
Charlotte McLaughlin
Vice President, Investor Relations
(404) 853-1456
investorrelations@acuityinc.com

Media Contact:
April Appling
Senior Vice President, Corporate Marketing and Communications
corporatecommunications@acuityinc.com

Acuity Reports Fiscal 2025 Third-Quarter Results
Strong Performance Delivers Sales Growth in Both Lighting and Intelligent Spaces

■Delivered Net Sales of $1.2B, an Increase of 22% Compared to the Prior Year
■Delivered Operating Profit of $140M, Down 4 % Compared to the Prior Year; Grew Adjusted Operating Profit to $222M, Up 33% Compared to the Prior Year
■Delivered Diluted EPS of $3.12, Down 14% Compared to the Prior Year; Grew Adjusted Diluted EPS to $5.12, Up 23% Compared to the Prior Year

ATLANTA, June 26, 2025 - Acuity Inc. (NYSE: AYI), ("Acuity"), a market-leading industrial technology company, delivered net sales of $1.2 billion in the third quarter of fiscal 2025 ended May 31, 2025, an increase of $210.5 million, or 21.7 percent, compared to the prior year.
"We delivered strong performance in the third quarter of fiscal 2025," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Inc. "We grew net sales, expanded our adjusted operating profit and adjusted operating profit margin and we increased our adjusted diluted earnings per share. We generated strong cash flow and allocated capital effectively. "
During the third quarter of fiscal 2025, we accelerated productivity actions in our ABL segment that resulted in $29.7 million of special charges. These charges included the elimination of brands, associate severance, and facility reorganization.
Operating profit was $139.8 million in the third quarter of fiscal 2025, a decrease of $5.5 million, or 3.8 percent, compared to the prior year. Operating profit as a percent of net sales was 11.9 percent in the third quarter of fiscal 2025, a decrease of 310 basis points compared to the prior year. Adjusted operating profit was $221.7 million in the third quarter of fiscal 2025, an increase of $54.6 million, or 32.7 percent, compared to the prior year. Adjusted operating profit as a percent of net sales was 18.8 percent in the third quarter of fiscal 2025, an increase of 150 basis points compared to the prior year.
Diluted earnings per share was $3.12 in the third quarter of fiscal 2025, a decrease of $0.50, or 13.8 percent, compared to the prior year. Adjusted diluted earnings per share was $5.12 in the third quarter of fiscal 2025, an increase of $0.97, or 23.4 percent, from $4.15 in the prior year.

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Exhibit 99.1
Segment Performance
Acuity Brands Lighting ("ABL")
ABL generated net sales of $923.2 million in the third quarter of fiscal 2025, an increase of $24.7 million, or 2.7 percent, compared to the prior year.
Operating profit was $134.0 million in the third quarter of fiscal 2025, a decrease of $17.5 million, or 11.6 percent, compared to the prior year. Operating profit as a percent of ABL net sales was 14.5 percent in the third quarter of fiscal 2025, a decrease of 240 basis points compared to the prior year. Adjusted operating profit was $173.9 million in the third quarter of fiscal 2025, an increase of $11.8 million, or 7.3 percent, compared to the prior year. Adjusted operating profit as a percent of ABL net sales was 18.8 percent in the third quarter of fiscal 2025, an increase of 80 basis points compared to the prior year.
Acuity Intelligent Spaces ("AIS")
AIS generated net sales of $264.1 million in the third quarter of fiscal 2025, an increase of $188.4 million, or 248.9 percent, compared to the prior year. Included in net sales are $172.8 million from three months of QSC performance.
Operating profit was $27.4 million in the third quarter of fiscal 2025, an increase of $14.9 million compared to the prior year. Operating profit as a percent of AIS net sales was 10.4 percent in the third quarter of fiscal 2025, a decrease of 610 basis points compared to the prior year. Adjusted operating profit was $62.3 million in the third quarter of fiscal 2025, an increase of $45.0 million compared to the prior year. Adjusted operating profit as a percent of AIS net sales was 23.6 percent in the third quarter of fiscal 2025, an increase of 70 basis points compared to the prior year.
Cash Flow and Capital Allocation
Net cash from operating activities was $398.9 million for the first nine months of fiscal 2025. We closed the QSC acquisition and acquired M3 Innovation, increased our dividend by 13 percent to 17 cents per share and repurchased approximately 344,000 shares of common stock for a total of $91.3 million.
Call Details
We will host a conference call at 8:00 a.m. ET today, Thursday, June 26, 2025. Neil Ashe, Chief Executive Officer of Acuity Inc. will lead the call. The conference call and earnings release can be accessed via our Investor Relations section of our website at www.investors.acuityinc.com. A replay of the call will also be posted to the Investor Relations website within two hours of the completion of the conference call and will be available on the website for a limited time.
About Acuity
Acuity Inc. (NYSE: AYI) 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 (ABL) and Acuity Intelligent Spaces (AIS), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives.


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Exhibit 99.1
We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and an audio, video and control platform. We focus on customer outcomes and drive growth and productivity to increase market share and deliver superior returns. We look to aggressively deploy capital to grow the business and to enter attractive new verticals.

Acuity Inc. is based in Atlanta, Georgia, with operations across North America, Europe and Asia. The Company is powered by approximately 13,000 dedicated and talented associates. Visit us at www.acuityinc.com.
Non-GAAP Financial Measures
This news release includes the following non-generally accepted accounting principles (“GAAP”) financial measures: “adjusted operating profit” and “adjusted operating profit margin” for total company and by segment; for total company only we additionally include: "adjusted gross profit", "adjusted gross profit margin", “adjusted net income;” “adjusted diluted EPS;” “earnings before interest, taxes, depreciation and amortization (“EBITDA”);" "EBITDA margin;" “adjusted EBITDA;” and "adjusted EBITDA margin". These non-GAAP financial measures are provided to enhance the reader's overall understanding of our current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related items, and special charges.
We also provide “free cash flow” (“FCF”) to enhance the reader’s understanding of our ability to generate additional cash from its business.
Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into our results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP.
The most directly comparable GAAP measures for adjusted gross profit and adjusted gross profit margin for total company are “gross profit” and “gross profit margin,” respectively, which include the impact of acquired profit in inventory. Adjusted gross profit margin is adjusted gross profit divided by net sales for total company. The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are “operating profit” and “operating profit margin,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related costs, and special charges. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related costs, and special charges. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for EBITDA is “net income”, which includes the impact of net interest expense, income taxes, depreciation and amortization of acquired intangible assets. EBITDA margin is EBITDA divided by net sales for total company. The most directly comparable GAAP measure for adjusted EBITDA is “net income”, which includes the impact of

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Exhibit 99.1
net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, acquired profit in inventory, acquisition-related items, special charges, and miscellaneous (income) expense, net. Adjusted EBITDA margin is adjusted EBITDA divided by net sales for total company. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release.
We define FCF as net cash provided by operating activities less purchases of property, plant and equipment. A calculation of this measure is available in this news release.
Our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items.
Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements include, but are not limited to, statements that describe or relate to our plans, initiatives, projections, vision, goals, targets, commitments, expectations, objectives, prospects, strategies, or financial outlook, and the assumptions underlying or relating thereto. In some cases, we may use words such as “expect,” “believe,” “intend,” “anticipate,” “estimate,” “forecast,” “indicate,” “project,” “predict,” “plan,” “may,” “will,” “could,” “should,” “would,” “potential,” and words of similar meaning, as well as other words or expressions referencing future events, conditions, or circumstances, to identify forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on our current beliefs, expectations, and assumptions, which may not prove to be accurate, and are subject to known and unknown risks and uncertainties, assumptions, and other important factors, many of which are outside of our control and any of which could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties are discussed in our filings with the U.S. Securities and Exchange Commission, including our most recent annual report on Form 10-K (including, but not limited to, the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. This press release is not comprehensive, and for that reason, should be read in conjunction with such filings. You are cautioned not to place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, or otherwise.

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Exhibit 99.1
ACUITY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except per-share data)
 May 31, 2025August 31, 2024
 (unaudited)
ASSETS
Current assets: 
Cash and cash equivalents$371.8 $845.8 
Accounts receivable, less reserve for doubtful accounts of $2.6 and $1.9, respectively
608.6 563.0 
Inventories486.0 387.6 
Prepayments and other current assets122.6 75.1 
Total current assets1,589.0 1,871.5 
Property, plant, and equipment, net323.8 303.9 
Operating lease right-of-use assets77.8 65.6 
Goodwill1,492.6 1,098.7 
Intangible assets, net1,108.3 440.5 
Deferred income taxes21.1 2.3 
Other long-term assets33.7 32.1 
Total assets$4,646.3 $3,814.6 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: 
Accounts payable$409.0 $352.3 
Current operating lease liabilities23.3 19.2 
Accrued compensation110.2 110.1 
Other current liabilities257.0 206.3 
Total current liabilities799.5 687.9 
Long-term debt996.7 496.2 
Long-term operating lease liabilities65.6 58.1 
Accrued pension liabilities37.8 37.5 
Deferred income taxes14.3 26.0 
Other long-term liabilities148.4 130.1 
Total liabilities2,062.3 1,435.8 
Stockholders’ equity: 
Preferred stock, $0.01 par value per share; 50.0 shares authorized; none issued
— — 
Common stock, $0.01 par value per share; 500.0 shares authorized; 54.9 and 54.6 issued, respectively
0.5 0.5 
Paid-in capital1,143.5 1,115.9 
Retained earnings4,177.1 3,909.8 
Accumulated other comprehensive loss(114.6)(114.9)
Treasury stock, at cost, of 24.2 and 23.8 shares, respectively
(2,622.5)(2,532.5)
Total stockholders’ equity2,584.0 2,378.8 
Total liabilities and stockholders’ equity$4,646.3 $3,814.6 

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Exhibit 99.1
ACUITY INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In millions, except per-share data)
 Three Months EndedNine Months Ended
 May 31, 2025May 31, 2024May 31, 2025May 31, 2024
Net sales$1,178.6 $968.1 $3,136.5 $2,808.7 
Cost of products sold608.4 515.9 1,649.0 1,515.7 
Gross profit570.2 452.2 1,487.5 1,293.0 
Selling, distribution, and administrative expenses400.7 306.9 1,074.5 896.7 
Special charges29.7 — 29.7 — 
Operating profit139.8 145.3 383.3 396.3 
Other expense: 
Interest expense (income), net12.1 (1.8)15.0 (1.0)
Miscellaneous expense (income), net2.3 (0.5)5.8 1.2 
Total other expense (income)14.4 (2.3)20.8 0.2 
Income before income taxes125.4 147.6 362.5 396.1 
Income tax expense27.0 33.7 79.9 92.4 
Net income$98.4 $113.9 $282.6 $303.7 
Earnings per share(1):
 
Basic earnings per share$3.19 $3.70 $9.14 $9.83 
Basic weighted average number of shares outstanding30.851 30.829 30.912 30.905 
Diluted earnings per share$3.12 $3.62 $8.92 $9.67 
Diluted weighted average number of shares outstanding31.565 31.477 31.673 31.420 
Dividends declared per share$0.17 $0.15 $0.49 $0.43 
(1) Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

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Exhibit 99.1
ACUITY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)
 Nine Months Ended
 May 31, 2025May 31, 2024
Cash flows from operating activities:
Net income$282.6 $303.7 
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization86.7 68.5 
Share-based payment expense34.0 34.9 
Asset impairments16.7 — 
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable10.4 42.5 
Inventories5.1 (1.2)
Prepayments and other current assets(31.9)(16.3)
Accounts payable38.1 40.4 
Other operating activities(42.8)(27.4)
Net cash provided by operating activities398.9 445.1 
Cash flows from investing activities:  
Purchases of property, plant, and equipment(43.6)(41.0)
Acquisition of business, net of cash acquired(1,189.4)— 
Other investing activities(16.3)(3.6)
Net cash used for investing activities(1,249.3)(44.6)
Cash flows from financing activities:  
Borrowings from term loan600.0 — 
Repayments of term loan borrowings(100.0)— 
Repurchases of common stock(91.3)(88.7)
Proceeds from stock option exercises and other17.5 12.0 
Payments of taxes withheld on net settlement of equity awards(24.0)(10.4)
Dividends paid(15.3)(13.4)
Other financing activities(9.3)— 
Net cash provided by (used for) financing activities377.6 (100.5)
Effect of exchange rate changes on cash and cash equivalents(1.2)1.1 
Net change in cash and cash equivalents(474.0)301.1 
Cash and cash equivalents at beginning of period845.8 397.9 
Cash and cash equivalents at end of period$371.8 $699.0 




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Exhibit 99.1
ACUITY INC.
DISAGGREGATED NET SALES
(In millions)

The following tables show net sales by channel for the periods presented:
Three Months Ended
May 31, 2025May 31, 2024Increase (Decrease)Percent Change
Acuity Brands Lighting:
Independent sales network$685.3 $637.1 $48.2 7.6 %
Direct sales network101.5 97.0 4.5 4.6 %
Retail sales41.4 45.7 (4.3)(9.4)%
Corporate accounts35.5 60.5 (25.0)(41.3)%
Original equipment manufacturer and other59.5 58.2 1.3 2.2  %
Total Acuity Brands Lighting923.2 898.5 24.7 2.7 %
Acuity Intelligent Spaces264.1 75.7 188.4 248.9 %
Eliminations(8.7)(6.1)(2.6)42.6 %
Total$1,178.6 $968.1 $210.5 21.7 %
Nine Months Ended
May 31, 2025May 31, 2024Increase (Decrease)Percent Change
Acuity Brands Lighting:
Independent sales network$1,944.4 $1,874.6 $69.8 3.7 %
Direct sales network306.1 287.4 18.7 6.5 %
Retail sales127.3 147.7 (20.4)(13.8)%
Corporate accounts103.8 140.1 (36.3)(25.9)%
Original equipment manufacturer and other168.2 168.6 (0.4)(0.2) %
Total Acuity Brands Lighting2,649.8 2,618.4 31.4 1.2 %
Acuity Intelligent Spaces509.1 208.0 301.1 144.8 %
Eliminations(22.4)(17.7)(4.7)26.6 %
Total$3,136.5 $2,808.7 $327.8 11.7 %

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Exhibit 99.1
ACUITY INC.
Reconciliation of Non-U.S. GAAP Measures
The tables below reconcile certain GAAP financial measures to the corresponding non-GAAP measures for total Company as well as our reportable operating segments (in millions except per share data):
Three Months Ended
 May 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$1,178.6 $968.1 $210.5 21.7 %
Gross profit (GAAP)$570.2 $452.2 $118.0 26.1 %
Percent of net sales48.4 %46.7 %170 bps
Add-back: Acquired profit in inventory19.2 — 
Adjusted gross profit (Non-GAAP)$589.4 $452.2 $137.2 30.3 %
Percent of net sales50.0 %46.7 %330 bps
Operating profit (GAAP)$139.8 $145.3 $(5.5)(3.8) %
Percent of net sales (GAAP)11.9 %15.0 %(310)bps
Add-back: Amortization of acquired intangible assets20.0 10.0 
Add-back: Share-based payment expense10.5 11.8 
Add-back: Acquisition-related costs (1)
2.5 — 
Add-back: Acquired profit in inventory19.2 — 
Add-back: Special charges29.7 — 
Adjusted operating profit (Non-GAAP)$221.7 $167.1 $54.6 32.7 %
Percent of net sales (Non-GAAP)18.8 %17.3 %150 bps
Net income (GAAP)$98.4 $113.9 $(15.5)(13.6) %
Add-back: Amortization of acquired intangible assets20.0 10.0 
Add-back: Share-based payment expense10.5 11.8 
Add-back: Acquisition-related costs (1)
2.5 — 
Add-back: Acquired profit in inventory19.2 — 
Add-back: Special charges29.7 — 
Total pre-tax adjustments to net income81.9 21.8 
Income tax effects(18.8)(5.0)
Adjusted net income (Non-GAAP)$161.5 $130.7 $30.8 23.6 %
Diluted earnings per share (GAAP)$3.12 $3.62 $(0.50)(13.8) %
Adjusted diluted earnings per share (Non-GAAP)$5.12 $4.15 $0.97 23.4 %
Net income (GAAP)$98.4 $113.9 $(15.5)(13.6)%
Percent of net sales (GAAP)8.3 %11.8 %(350)bps
Interest expense (income), net12.1 (1.8)
Income tax expense27.0 33.7 
Depreciation14.6 12.9 
Amortization of acquired intangible assets20.0 10.0 
EBITDA (Non-GAAP)172.1 168.7 3.4 2.0  %
Percent of net sales (Non-GAAP)14.6 %17.4 %(280)bps
Share-based payment expense10.5 11.8 
Acquisition-related costs (1)
2.5 — 
Acquired profit in inventory19.2 — 
Miscellaneous expense (income), net2.3 (0.5)
Special charges29.7 — 
Adjusted EBITDA (Non-GAAP)$236.3 $180.0 $56.3 31.3 %
Percent of net sales (Non-GAAP)20.0 %18.6 %140 bps
(1) Acquisition-related items include professional fees.


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Exhibit 99.1
Three Months Ended
Acuity Brands LightingMay 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$923.2 $898.5 $24.7 2.7 %
Operating profit (GAAP)$134.0 $151.5 $(17.5)(11.6) %
Add-back: Amortization of acquired intangible assets6.3 6.6 
Add-back: Share-based payment expense3.9 4.0 
Add-back: Special charges29.7 — 
Adjusted operating profit (Non-GAAP)$173.9 $162.1 $11.8 7.3 %
Operating profit margin (GAAP)14.5 %16.9 %(240)bps
Adjusted operating profit margin (Non-GAAP)18.8 %18.0 %80 bps
Three Months Ended
Acuity Intelligent SpacesMay 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$264.1 $75.7 $188.4 248.9 %
Operating profit (GAAP)$27.4 $12.5 $14.9 119.2 %
Add-back: Amortization of acquired intangible assets13.7 3.4 
Add-back: Share-based payment expense2.0 1.4 
Add-back: Acquired profit in inventory19.2 — 
Adjusted operating profit (Non-GAAP)$62.3 $17.3 $45.0 260.1 %
Operating profit margin (GAAP)10.4 %16.5 %(610)bps
Adjusted operating profit margin (Non-GAAP)23.6 %22.9 %70 bps

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Exhibit 99.1
(In millions, except per share data)Nine Months Ended
 May 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$3,136.5 $2,808.7 $327.8 11.7 %
Gross profit (GAAP)$1,487.5 $1,293.0 $194.5 15.0 %
Percent of net sales (GAAP)47.4 %46.0 %140 bps
Add-back: Acquired profit in inventory29.6 — 
Adjusted gross profit (Non-GAAP)$1,517.1 $1,293.0 $224.1 17.3 %
Percent of net sales (Non-GAAP)48.4 %46.0 %240 bps
Operating profit (GAAP)$383.3 $396.3 $(13.0)(3.3)%
Percent of net sales (GAAP)12.2 %14.1 %(190)bps
Add-back: Amortization of acquired intangible assets45.5 29.9 
Add-back: Share-based payment expense34.0 34.9 
Add-back: Acquisition-related costs (1)
21.2 — 
Add-back: Acquired profit in inventory29.6 — 
Add-back: Special charges29.7 — 
Adjusted operating profit (Non-GAAP)$543.3 $461.1 $82.2 17.8 %
Percent of net sales (Non-GAAP)17.3 %16.4 %90 bps
Net income (GAAP)$282.6 $303.7 $(21.1)(6.9)%
Add-back: Amortization of acquired intangible asset45.5 29.9 
Add-back: Share-based payment expense34.0 34.9 
Add-back: Acquisition-related costs (1)
21.2 — 
Add-back: Acquired profit in inventory29.6 — 
Add-back: Special charges29.7 — 
Total pre-tax adjustments to net income160.0 64.8 
Income tax effect(36.8)(14.9)
Adjusted net income (Non-GAAP)$405.8 $353.6 $52.2 14.8 %
Diluted earnings per share (GAAP)$8.92 $9.67 $(0.75)(7.8)%
Adjusted diluted earnings per share (Non-GAAP)$12.81 $11.25 $1.56 13.9 %
Net income (GAAP)$282.6 $303.7 $(21.1)(6.9)%
Percent of net sales (GAAP)9.0 %10.8 %(180)bps
Interest expense (income), net15.0 (1.0)
Income tax expense79.9 92.4 
Depreciation41.2 38.6 
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EBITDA (Non-GAAP)464.2 463.6 0.6 0.1 %
Percent of net sales (Non-GAAP)14.8 %16.5 %(170)bps
Share-based payment expense34.0 34.9 
Miscellaneous expense, net5.8 1.2 
Special charges29.7 — 
Acquisition-related costs (1)
21.2 — 
Acquired profit in inventory29.6 — 
Adjusted EBITDA (Non-GAAP)$584.5 $499.7 $84.8 17.0 %
Percent of net sales (Non-GAAP)18.6 %17.8 %80 bps
(1) Acquisition-related items include professional fees.

11
Press Release
Exhibit 99.1
Nine Months Ended
Acuity Brands LightingMay 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$2,649.8 $2,618.4 $31.4 1.2 %
Operating profit (GAAP)$407.6 $421.3 $(13.7)(3.3)%
Add-back: Amortization of acquired intangible assets19.0 19.7 
Add-back: Share-based payment expense12.4 11.3 
Add-back: Special charges29.7 — 
Adjusted operating profit (Non-GAAP)$468.7 $452.3 $16.4 3.6 %
Operating profit margin (GAAP)15.4 %16.1 %(70)bps
Adjusted operating profit margin (Non-GAAP)17.7 %17.3 %40 bps
Nine Months Ended
Acuity Intelligent SpacesMay 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net sales$509.1 $208.0 $301.1 144.8 %
Operating profit (GAAP)$48.1 $26.9 $21.2 78.8 %
Add-back: Amortization of acquired intangible assets26.5 10.2 
Add-back: Share-based payment expense5.5 4.8 
Add-back: Acquired profit in inventory29.6 — 
Adjusted operating profit (Non-GAAP)$109.7 $41.9 $67.8 161.8 %
Operating profit margin (GAAP)9.4 %12.9 %(350)bps
Adjusted operating profit margin (Non-GAAP)21.5 %20.1 %140 bps
Nine Months Ended
 May 31, 2025May 31, 2024Increase (Decrease)Percent Change
Net cash provided by operating activities (GAAP)$398.9 $445.1 $(46.2)(10.4)%
Less: Purchases of property, plant, and equipment(43.6)(41.0)
Free cash flow (Non-GAAP)$355.3 $404.1 $(48.8)(12.1)%





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Entity Registrant Name ACUITY INC.
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City Area Code 404
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Title of 12(b) Security Common stock, $0.01 par value per share
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