Acuity Brands Has Strong First Quarter

Lighting and technology company Acuity Brands, Inc., had net sales of $997.9 million in the first quarter of fiscal 2023, an increase of 7.8 per cent compared to net sales of $ 926.1 million in the first quarter of fiscal 2022. Operating profit was $108.9 million in the quarter, a decrease of 5.4 per cent compared to $115.1 million in the prior year period. Operating profit as a per cent of net sales was 10.9 per cent, a decrease of 150 basis points, compared to the prior year period. The lighting and lighting controls segment net sales increased 7.2 per cent to $947.1 million year over year and the intelligent spaces group net sales increased 22.4 per cent to $56.8 million.