$AYI (Acuity Brands, Inc.)

$AYI {{ '2016-04-06T14:37:09+0000' | timeago}} • Webcast

$AYI, owning brands like Lithonia Lighting & Holophane, said that it closed 2Q16 with $224MM of cash on hand after investing $614MM for acquisitions this year. The company further generated $120MM of net cash provided by operations in 1H16, up $44MM from 2H15.

$AYI {{ '2017-10-05T21:02:47+0000' | timeago}} • Webcast

$AYI's board reviews its dividend policy each quarter and the company feels comfortable with where the dividend is now. $AYI continues to see really significant growth opportunities, when looking at over the last 6-7 years, the company has deployed in acquisitions using both cash and stock, but close to a range of a billion or two.

$AYI {{ '2017-10-05T20:54:13+0000' | timeago}} • Webcast

$AYI's adjusted selling, general and administrative expenses for 4Q17 decreased by 15.2MM from last year. The decrease was primarily due to lower incentive compensation expense, partially offset by greater salary and healthcare cost due to continued investment in additional head count that support and drive its tiered solution strategy.

$AYI {{ '2017-10-04T12:58:10+0000' | timeago}} • Announcement

$AYI expects growth rate for lighting and building management solutions in the North American market, which includes renovation and retrofit activity and comprises over 97% of revenues, will be up low single-digits for FY18, reflecting expected rebound in 2H18. $AYI sees FY18 tax rate of about 35.5% and capital expenditures of about 2% of sales.

$AYI {{ '2017-10-04T12:56:16+0000' | timeago}} • Announcement

$AYI remains bullish regarding the company's prospects for continued future profitable growth. The company expects to see some volatility in demand among certain sales channels and geographies, including possible short-term volatility due to the recent hurricanes that hit Florida, Texas, and Puerto Rico.

$AYI {{ '2017-10-04T12:54:11+0000' | timeago}} • Announcement

$AYI's gross margin for 4Q17 declined 100 basis points to 42.5% from last year. Higher warranty expense and labor costs were primarily responsible for the lower gross profit margin. Adjusted selling, distribution & administrative expenses lowered 250 basis points due to a decline in incentive compensation expense.

$AYI {{ '2017-10-04T12:51:41+0000' | timeago}} • Announcement

$AYI reported a 9% jump in 4Q17 earnings driven by higher sales. Net income rose to $90.5MM or $2.15 per share from $82.9MM or $1.89 per share last year. Net sales grew 3.5% to $957.6MM, on a 4.5% increase in volume, partially offset by a 1% net unfavorable change in product prices and mix of products sold. Adjusted EPS increased 15.4% to $2.55.

$AYI {{ '2017-06-29T18:35:45+0000' | timeago}} • Webcast

While $AYI sees the lighting market in North America growing modestly in the second half of calendar 2017, the company expects the price of certain LED components to continue to decline though at a decelerating pace.

$AYI {{ '2017-06-29T18:28:26+0000' | timeago}} • Webcast

"We currently expect to spend approximately 2% of revenues in capital expenditures in fiscal year 2017," said CFO Ricky Reece as $AYI posted 3Q17 results.

$AYI {{ '2017-06-29T13:11:45+0000' | timeago}} • Announcement

"Softness in demand in the North American lighting market that began in the third calendar quarter of 2016 will continue through the remainder of the calendar year," said CEO Vernon J. Nagel, while $AYI posted 3Q17 results.

$AYI {{ '2017-06-29T13:08:45+0000' | timeago}} • Announcement

$AYI's net sales rose 5% to $891.6MM in 3Q17 with net income jumping 11% to $82.2MM or $1.90 per diluted share. Adjusted diluted EPS rose 4% to $2.15 in the quarter.

$AYI {{ '2017-06-27T20:36:55+0000' | timeago}} • Announcement

The BoD of $AYI declared a quarterly dividend of $0.13 per share, payable on August 1, 2017 to shareholders of record on July 18, 2017.

$AYI {{ '2017-05-10T20:44:37+0000' | timeago}} • Announcement

$AYI announced completion of the buyback of 2MM shares of the company's common stock under its previously authorized stock repurchase program. The repurchases represent a reduction of approx. 5% of the 44.1MM shares outstanding on March 30, 2017.

$AYI {{ '2017-05-09T19:05:40+0000' | timeago}} • Announcement

$AYI unveiled its new Atrius brand, encompassing the company's portfolio of Internet of Things (IoT) business solutions and Atrius software platform. Through Atrius, $AYI will continue to provide and expand its comprehensive set of IoT business solutions.

$AYI {{ '2017-04-04T15:12:41+0000' | timeago}} • Webcast

$AYI stated that in terms of March order rates, the company is seeing a favorable trend of sequential growth in its order rates. The backlog is up compared to the year-ago period. $AYI expects these growth rates will continue to pick up going forward.

$AYI {{ '2017-04-04T14:58:17+0000' | timeago}} • Webcast

$AYI said about 70-75% of its business is considered project-type business while 25% is considered stock-oriented business. The project business performed well with solid shipments achieving growth in the mid double-digit range.  However, small projects which are more short-cycle in nature saw slight pressure during 2Q17.

$AYI {{ '2017-04-04T14:38:28+0000' | timeago}} • Webcast

$AYI expects to spend 2-2.5% of sales on CapEx in FY17. Based on third-party market forecasts for the lighting industry, the company expects the broader end markets that it serves in North America, which represent about 90% of its total net sales, will grow in the mid to upper single digit range in FY17.

$AYI {{ '2017-04-04T14:20:50+0000' | timeago}} • Webcast

In 2Q17, $AYI’s net sales in Mexico and Europe were negatively impacted by political and economic issues in those regions, reducing consolidated net sales by almost 1 point. The increase in net sales was broadbased along key product lines and sales channels in the US and Canada. $AYI was able to grow its legacy business in the US and Canada by 5%.

$AYI {{ '2017-04-04T14:14:32+0000' | timeago}} • Webcast

In 2Q17, $AYI’s reported operating profit was $108MM compared with $106.7MM in 2Q16. Adjusted operating profit was $123.9MM. Adjusted operating profit margin was 15.4%, a decrease of 100BP compared with the prior year.

$AYI {{ '2017-04-04T13:24:08+0000' | timeago}} • Announcement

Commenting on $AYI's future performance, CEO Vernon Nagel said, "Third-party forecasts indicate that the North American lighting market should return to growth in FY18. Even though the growth rate of lighting solutions in North America in 1H17 was lower than anticipated, we continue to see significant long-term growth opportunities."

$AYI {{ '2017-04-04T13:22:33+0000' | timeago}} • Announcement

$AYI posted net sales of $804.7MM in 2Q17, up 3.5% from the year-ago quarter. The sales hike was primarily due to a 4% growth in volume as well as revenues from acquisitions. Net income inched up to $67.3MM, or $1.53 per share, from $65.5MM, or $1.49 per share in the year-ago quarter. Excluding items, EPS was down at  $1.77.

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