Acuity Brands Q2 sales decline

Acuity Brands, Inc. had net sales of $905.9 million in the second quarter of fiscal 2024, a decrease of four percent compared to net sales of $943.6 million in the fourth quarter of fiscal 2023. The Acuity Brands Lighting and Lighting Controls segment sales decreased 5.3 percent year over year and the Intelligent Spaces Group segment sales increased 17 percent. Overall operating profit was $118.1 million in the quarter, an increase of 5.9 percent, compared to operating profit of $ 111.5 million in the prior-year period. Operating profit as a percent of net sales was 13 percent, up 120 basis points compared to the prior year. Net income was $89.2 million compared to $83.2 million.