$AYI

ACUITY INC. (DE)

CIK:0001144215|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions

3 Months Ended

9 Months Ended

May 31, 2026

May 31, 2025

May 31, 2026

May 31, 2025

Income Statement [Abstract]

Net sales

$ 1,198.0

$ 1,178.6

$ 3,397.4

$ 3,136.5

Cost of products sold

591.6

608.4

1,716.8

1,649.0

Gross profit

606.4

570.2

1,680.6

1,487.5

Selling, distribution, and administrative expenses

413.1

400.7

1,188.0

1,074.5

Special charges

0.0

29.7

5.9

29.7

Operating profit

193.3

139.8

486.7

383.3

Other expense (income):

Interest expense, net

6.1

12.1

21.5

15.0

Miscellaneous expense, net

2.0

2.3

4.5

5.8

Total other expense

8.1

14.4

26.0

20.8

Income before income taxes

185.2

125.4

460.7

362.5

Income tax expense

44.2

27.0

102.4

79.9

Net income

$ 141.0

$ 98.4

$ 358.3

$ 282.6

Earnings per share

Basic earnings per share (in dollars per share)

^[1]

$ 4.66

$ 3.19

$ 11.74

$ 9.14

Basic weighted average number of shares outstanding (in shares)

^[1]

30,268

30,851

30,520

30,912

Diluted earnings per share (in dollars per share)

^[1]

$ 4.56

$ 3.12

$ 11.45

$ 8.92

Diluted weighted average number of shares outstanding (in shares)

^[1]

30,954

31,565

31,278

31,673

Dividends declared per share (in dollars per share)

^[1]

$ 0.20

$ 0.17

$ 0.57

$ 0.49

Comprehensive income:

Net income

$ 141.0

$ 98.4

$ 358.3

$ 282.6

Other comprehensive income (loss) items:

Foreign currency translation adjustments

(11.2)

27.8

4.1

(1.2)

Defined benefit plans, net of tax

0.3

0.5

0.8

1.5

Other comprehensive (loss) income items, net of tax

(10.9)

28.3

4.9

0.3

Comprehensive income

$ 130.1

$ 126.7

$ 363.2

$ 282.9

[1]	Earnings per share is calculated using unrounded numbers. Amounts in the table may not recalculate exactly due to rounding.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	May 31, 2026	Nov. 30, 2025	May 31, 2025	Nov. 30, 2024	May 31, 2026	May 31, 2025	Aug. 31, 2025
Cash flows from operating activities:
Net income	$ 141.0	$ 120.5	$ 98.4	$ 106.7	$ 358.3	$ 282.6
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	40.7		34.6		117.8	86.7
Share-based payment expense					39.2	34.0
Asset impairments					0.0	16.7
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable					(16.6)	10.4
Inventories					66.9	5.1
Accounts payable					(82.5)	38.1
Other operating activities					37.1	(74.7)
Net cash provided by operating activities					520.2	398.9
Cash flows from investing activities:
Purchases of property, plant, and equipment					(58.5)	(43.6)
Acquisition of business, net of cash acquired					0.0	(1,189.4)
Other investing activities					0.3	(16.3)
Net cash used for investing activities					(58.2)	(1,249.3)
Cash flows from financing activities:
Borrowings on credit agreement					200.0	0.0
Borrowings from term loan					0.0	600.0
Repayments of term loan borrowings					(400.0)	(100.0)
Repurchases of common stock					(229.9)	(91.3)
Proceeds from stock option exercises and other					2.9	17.5
Payments of taxes withheld on net settlement of equity awards					(28.4)	(24.0)
Dividends paid					(17.7)	(15.3)
Other financing activities					(3.6)	(9.3)
Net cash (used for) provided by financing activities					(476.7)	377.6
Effect of exchange rate changes on cash and cash equivalents					4.1	(1.2)
Net change in cash and cash equivalents					(10.6)	(474.0)
Cash and cash equivalents at beginning of period		$ 422.5		$ 845.8	422.5	845.8	$ 845.8
Cash and cash equivalents at end of period	$ 411.9		$ 371.8		411.9	371.8	$ 422.5
Supplemental cash flow information:
Income taxes paid during the period					44.2	118.3
Interest paid during the period					$ 27.3	$ 27.5

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	May 31, 2026	Aug. 31, 2025
Current assets:
Cash and cash equivalents	$ 411.9	$ 422.5
Accounts receivable, less reserve for doubtful accounts of $7.0 and $4.3, respectively	610.9	593.9
Inventories	458.3	526.7
Prepayments and other current assets	137.4	108.4
Total current assets	1,618.5	1,651.5
Property, plant, and equipment, net	345.9	343.2
Operating lease right-of-use assets	96.8	97.4
Goodwill	1,494.6	1,495.5
Intangible assets, net	1,028.9	1,099.0
Deferred income taxes	4.8	23.4
Other long-term assets	45.9	45.2
Total assets	4,635.4	4,755.2
Current liabilities:
Accounts payable	363.9	454.5
Current operating lease liabilities	27.0	23.3
Accrued compensation	126.4	110.0
Other current liabilities	271.0	258.0
Total current liabilities	788.3	845.8
Long-term debt	697.3	896.8
Long-term operating lease liabilities	80.0	84.3
Accrued pension liabilities	40.1	39.2
Deferred income taxes	40.2	24.9
Other long-term liabilities	138.0	139.3
Total liabilities	1,783.9	2,030.3
Commitments and contingencies (see Commitments and Contingencies footnote)
Stockholders’ equity:
Preferred stock, $0.01 par value per share; 50.0 shares authorized; none issued	0.0	0.0
Common stock, $0.01 par value per share; 500.0 shares authorized; 55.0 and 54.9 shares issued, respectively	0.6	0.5
Paid-in capital	1,178.4	1,164.7
Retained earnings	4,626.4	4,285.8
Accumulated other comprehensive loss	(71.6)	(76.5)
Treasury stock, at cost, of 24.9 and 24.2 shares, respectively	(2,882.3)	(2,649.6)
Total stockholders’ equity	2,851.5	2,724.9
Total liabilities and stockholders’ equity	$ 4,635.4	$ 4,755.2