Lighting and building management firm Acuity Brands, Inc. AYI reported fiscal fourth-quarter 2024 net sales growth of 2.2% year over year to $1.03 billion, beating the analyst consensus estimate of $1.02 billion. 

It clocked an adjusted EPS of $4.30, beating the analyst consensus estimate of $4.28.

Sales by segments: Acuity Brands Lighting (ABL) and Lighting Controls revenue hit $955.0 million (+1.1% Y/Y), and Intelligent Spaces Group (ISG) clocked $83.9 million (+16.7% Y/Y).

The consolidated adjusted operating margin grew by 120 bps to 17.3%. ABL’s adjusted operating margin expanded by 120 bps to 18.0%. ISG’s margin increased by 590 bps to 25.6%.

The company generated $619.2 million in operating cash flow for fiscal 2024, an increase of $41.1 million compared to the prior year. It held cash and equivalents of $846 million compared to $398 million last year.

Adjusted EBITDA was $191.3 million, up from $175.1 million a year ago. The margin expanded by 120 bps to 18.5%.

“We grew net sales in both Lighting and Spaces, delivered margin expansion and increased earnings per share,” stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc.

Acuity Brands stock is up 65% in the last 12 months.

Price Action: AYI stock is up 1.67% at $280.00 premarket at the last check on Tuesday.