Acuity Inc. (NYSE: AYI), ("Acuity"), a market-leading industrial technology company, delivered net sales of $1.2 billion in the third quarter, ended May 31, 2026, an increase of $19.4 million, or 1.6 percent, compared to the prior year.

"We demonstrated solid execution in our third quarter of fiscal 2026," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Inc. "We grew net sales, we expanded our adjusted operating profit and we increased our adjusted diluted earnings per share. We generated strong cash flow and allocated capital effectively."

During the third quarter of fiscal 2026, we received $6.4 million in tariff refunds in Acuity Brands Lighting, which are reflected as a non-GAAP adjustment in our results.

Operating profit was $193.3 million in the third quarter of fiscal 2026, an increase of $53.5 million, or 38.3 percent, compared to the prior year. Operating profit as a percent of net sales was 16.1 percent in the third quarter of fiscal 2026, an increase of 420 basis points compared to the prior year. Adjusted operating profit was $223.5 million in the third quarter of fiscal 2026, an increase of $1.8 million, or 0.8 percent, compared to the prior year. Adjusted operating profit as a percent of net sales was 18.7 percent in the third quarter of fiscal 2026, a decrease of 10 basis points compared to the prior year.

Diluted earnings per share was $4.56 in the third quarter of fiscal 2026, an increase of $1.44, or 46.2 percent, compared to the prior year. Adjusted diluted earnings per share was $5.31 in the third quarter of fiscal 2026, an increase of $0.19, or 3.7 percent.

Segment Performance

Acuity Brands Lighting ("ABL")

ABL generated net sales of $905.2 million in the third quarter of fiscal 2026, a decrease of $18.0 million, or 1.9 percent, compared to the prior year.

Operating profit was $160.6 million in the third quarter of fiscal 2026, an increase of $26.6 million, or 19.9 percent, compared to the prior year. Operating profit as a percent of ABL net sales was 17.7 percent in the third quarter of fiscal 2026, an increase of 320 basis points compared to the prior year. Adjusted operating profit was $164.6 million in the third quarter of fiscal 2026, a decrease of $9.3 million, or 5.3 percent, compared to the prior year. Adjusted operating profit as a percent of ABL net sales was 18.2 percent in the third quarter of fiscal 2026, a decrease of 60 basis points compared to the prior year.

Acuity Intelligent Spaces ("AIS")

AIS generated net sales of $303.5 million in the third quarter of fiscal 2026, an increase of $39.4 million, or 14.9 percent, compared to the prior year.

Operating profit was $56.5 million in the third quarter of fiscal 2026, an increase of $29.1 million, or 106.2 percent, compared to the prior year. Operating profit as a percent of AIS net sales was 18.6 percent in the third quarter of fiscal 2026, an increase of 820 basis points compared to the prior year. Adjusted operating profit was $76.3 million in the third quarter of fiscal 2026, an increase of $14.0 million, or 22.5 percent, compared to the prior year. Adjusted operating profit as a percent of AIS net sales was 25.1 percent in the third quarter of fiscal 2026, an increase of 150 basis points compared to the prior year.

Cash Flow and Capital Allocation

Net cash from operating activities was $520.2 million for the first nine months of fiscal 2026. Year to date, we repurchased approximately 766,000 shares of common stock for a total of $230 million.

Call Details

We will host a conference call at 8:00 a.m. ET today, Thursday, June 25, 2026. 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.