Acuity Brands, Inc., a market-leading industrial technology company, announced net sales of $997.9 million in the first quarter of fiscal 2023 ended November 30, 2022, an increase of 7.8 percent or $71.8 million, compared to the prior year. 

"We delivered solid results in the first quarter of fiscal 2023 as we continued to demonstrate our ability to drive sales growth through product vitality and service in both our lighting and spaces businesses." stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. "We expanded adjusted operating profit, substantially grew adjusted diluted earnings per share and generated strong cash flow from operations. We again created permanent shareholder value through share repurchases."

Operating profit was $108.9 million in the first quarter of fiscal 2023, a decrease of $6.2 million, or 5.4 percent, compared to the prior year. Operating profit as a percent of net sales was 10.9 percent in the first quarter of fiscal 2023, a decrease of 150 basis points, compared to the prior year. Adjusted operating profit was $140.1 million in the first quarter of fiscal 2023, an increase of $7.1 million, or 5.3 percent, compared to the prior year. Adjusted operating profit as a percent of net sales was 14.0 percent in the first quarter of fiscal 2023, a decrease of 40 basis points, compared to the prior year.

Diluted earnings per share was $2.29 in the first quarter of fiscal 2023, a decrease of $0.17, or 6.9 percent, compared to the prior year. Adjusted diluted earnings per share was $3.29 in the first quarter of fiscal 2023, an increase of $0.44, or 15.4 percent, from $2.85, compared to the prior year.