$AYI
ACUITY BRANDS INC

2024 Q1 Form 10-Q Financial Statement

#000114421524000044 Filed on April 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1
Revenue $905.9M $943.6M
YoY Change -4.0% 3.79%
Cost Of Revenue $493.5M $536.9M
YoY Change -8.08% 1.34%
Gross Profit $412.4M $406.7M
YoY Change 1.4% 7.22%
Gross Profit Margin 45.52% 43.1%
Selling, General & Admin $294.3M $295.2M
YoY Change -0.3% 6.57%
% of Gross Profit 71.36% 72.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.90M $22.00M
YoY Change 4.09% -6.78%
% of Gross Profit 5.55% 5.41%
Operating Expenses $294.3M $295.2M
YoY Change -0.3% 6.57%
Operating Profit $118.1M $111.5M
YoY Change 5.92% 8.99%
Interest Expense $100.0K $7.600M
YoY Change -98.68% 18.75%
% of Operating Profit 0.08% 6.82%
Other Income/Expense, Net -$600.0K -$2.000M
YoY Change -70.0% -51.22%
Pretax Income $117.6M $109.5M
YoY Change 7.4% 11.51%
Income Tax $28.40M $26.30M
% Of Pretax Income 24.15% 24.02%
Net Earnings $89.20M $83.20M
YoY Change 7.21% 10.49%
Net Earnings / Revenue 9.85% 8.82%
Basic Earnings Per Share
Diluted Earnings Per Share $2.84 $2.57
COMMON SHARES
Basic Shares Outstanding 30.82M shares 32.05M shares
Diluted Shares Outstanding 31.40M shares 32.39M shares

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $578.9M $339.0M
YoY Change 70.77% -28.71%
Cash & Equivalents $578.9M $339.0M
Short-Term Investments
Other Short-Term Assets $97.20M $95.00M
YoY Change 2.32% -24.18%
Inventory $375.8M $436.4M
Prepaid Expenses
Receivables $494.9M $523.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.547B $1.394B
YoY Change 11.0% -16.66%
LONG-TERM ASSETS
Property, Plant & Equipment $372.2M $286.0M
YoY Change 30.14% 8.29%
Goodwill $1.097B $1.080B
YoY Change 1.56% -1.11%
Intangibles $462.9M $495.8M
YoY Change -6.64% -10.23%
Long-Term Investments
YoY Change
Other Assets $46.80M $49.20M
YoY Change -4.88% 32.61%
Total Long-Term Assets $1.979B $1.990B
YoY Change -0.57% -0.84%
TOTAL ASSETS
Total Short-Term Assets $1.547B $1.394B
Total Long-Term Assets $1.979B $1.990B
Total Assets $3.526B $3.384B
YoY Change 4.2% -8.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $322.4M $324.8M
YoY Change -0.74% -28.57%
Accrued Expenses $253.6M $271.5M
YoY Change -6.59% -6.06%
Deferred Revenue $16.20M $15.70M
YoY Change 3.18% 53.92%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $597.9M $596.3M
YoY Change 0.27% -19.82%
LONG-TERM LIABILITIES
Long-Term Debt $495.9M $495.3M
YoY Change 0.12% 0.12%
Other Long-Term Liabilities $240.1M $129.9M
YoY Change 84.83% -3.71%
Total Long-Term Liabilities $736.0M $625.2M
YoY Change 17.72% -0.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $597.9M $596.3M
Total Long-Term Liabilities $736.0M $625.2M
Total Liabilities $1.376B $1.436B
YoY Change -4.18% -8.81%
SHAREHOLDERS EQUITY
Retained Earnings $3.686B $3.326B
YoY Change 10.84% 12.21%
Common Stock $1.088B $1.048B
YoY Change 3.88% 3.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.300B
YoY Change 29.71%
Treasury Stock Shares
Shareholders Equity $2.150B $1.948B
YoY Change
Total Liabilities & Shareholders Equity $3.526B $3.384B
YoY Change 4.2% -8.03%

Cashflow Statement

Concept 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $89.20M $83.20M
YoY Change 7.21% 10.49%
Depreciation, Depletion And Amortization $22.90M $22.00M
YoY Change 4.09% -6.78%
Cash From Operating Activities $102.6M $119.8M
YoY Change -14.36% 174.77%
INVESTING ACTIVITIES
Capital Expenditures $14.40M $17.40M
YoY Change -17.24% -217.57%
Acquisitions
YoY Change
Other Investing Activities -$3.800M $2.500M
YoY Change -252.0% -175.76%
Cash From Investing Activities -$18.20M -$14.90M
YoY Change 22.15% -17.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.30M -49.00M
YoY Change -60.61% -11.39%
NET CHANGE
Cash From Operating Activities 102.6M 119.8M
Cash From Investing Activities -18.20M -14.90M
Cash From Financing Activities -19.30M -49.00M
Net Change In Cash 65.10M 55.90M
YoY Change 16.46% -287.58%
FREE CASH FLOW
Cash From Operating Activities $102.6M $119.8M
Capital Expenditures $14.40M $17.40M
Free Cash Flow $88.20M $102.4M
YoY Change -13.87% 75.34%

Facts In Submission

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ContractWithCustomerLiabilityNoncurrent
47600000 usd
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
Current deferred revenues primarily consist of professional service and service-type warranty fees collected prior to performing the related service as well as software licenses and are included within Other current liabilities on the Consolidated Balance Sheets. These services are expected to be performed within one year. Revenue recognized from beginning balances of contract liabilities during the six months ended February 29, 2024 totaled $6.9 million.Non-current deferred revenues primarily consist of long-term service-type warranties, which are typically recognized ratably as revenue between five and ten years from the date of sale, and are included within Other long-term liabilities on the Consolidated Balance Sheets.
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6900000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
905900000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
943600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1840600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1941500000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000.0 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22000000.0 usd
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-1500000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-800000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
6500000 usd
CY2024Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Restructuring Charges
RestructuringCharges
0 usd
us-gaap Restructuring Charges
RestructuringCharges
6900000 usd
CY2022Q4 us-gaap Restructuring Charges
RestructuringCharges
6900000 usd
CY2022Q4 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
4300000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
6500000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
7600000 usd
us-gaap Interest Expense
InterestExpense
12900000 usd
us-gaap Interest Expense
InterestExpense
15500000 usd
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
6600000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1900000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
12100000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
3200000 usd
CY2024Q1 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
100000 usd
CY2023Q1 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-5700000 usd
us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-800000 usd
us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-12300000 usd
CY2024Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
1000000.0 usd
CY2023Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
1200000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
2100000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
2500000 usd
CY2024Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-200000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
3800000 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-11200000 usd
CY2024Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
600000 usd
CY2023Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1100000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1200000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1800000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-600000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3700000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1700000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5400000 usd
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-500000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2000000.0 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2500000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-17700000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1400000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1300000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-100000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
1500000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
100000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
200000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
300000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-100000 usd
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
200000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
300000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-100000 usd
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
200000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
700000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-500000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
0 usd
us-gaap Restructuring Charges
RestructuringCharges
0 usd
us-gaap Restructuring Charges
RestructuringCharges
6900000 usd
CY2022Q4 us-gaap Restructuring Charges
RestructuringCharges
6900000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
905900000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
943600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1840600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1941500000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
118100000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
111500000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
251000000.0 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
220400000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
118100000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
111500000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
251000000.0 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
220400000 usd
CY2024Q1 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
100000 usd
CY2023Q1 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-5700000 usd
us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-800000 usd
us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-12300000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-600000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3700000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1700000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5400000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
117600000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
109500000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
248500000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
202700000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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