AYI - Earnings call transcript Q1 2025

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Operator

Good morning, and welcome to the Acuity Brands Fiscal 2025 First Quarter Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over to Charlotte McLaughlin, Vice President of Investor Relations. Charlotte, please go ahead.

Charlotte McLaughlin

Thank you, operator. Good morning, and welcome to the Acuity Brands Fiscal 2025 First Quarter Earnings Call.

Officer. Today's me Executive Neil our and Officer; President Chief with President our Senior on call updates and Chief include first and and Financial our the fiscal this strategic quarter Ashe, morning, Chairman, Vice on XXXX On our will performance. progress call Karen Holcom, be an at There for will the end Q&A opportunity of this call.

forward-looking their of the of our Reform XXXX forward-looking Reconciliations Private www.investors.acuitybrands.com. Thank intend the I these financial be will quarter safe Litigation Neil comments on statements. by interest accompanying are with non-GAAP our available covered Ashe. provisions Brands. GAAP may and you in some in statements today reminder, Investor Acuity of available XXXX Act earnings website be a as the Relations over Slide As for which Securities detailed presentation. harbor to metrics our first X call to your at measures supplemental certain We of corresponding of on of now are release presentation, the turn both

Neil Ashe

you, all us morning. for you Charlotte, and this joining Thank thank

first per XXXX pleased welcome growth, margin profit the closed QSC increased We Acuity, week. profit delivered diluted adjusted fiscal our also adjusted Our performance operating was expanded and adjusted our successfully having and share. operating quarter We're earnings solid. sales to to acquisition last

to turning Lighting. Brands Now Acuity

sales the quarter. first delivering in growth perform well, We continue to

operate continued of and the elevate we performance drive of and service Our result improve products technology as strategy the use to to our and differentiate and actioning repeatable to is more productivity. product levels, predictable, our business a both increase how vitality, scalable

architects, are productivity portfolios, growth growth development Design and for of strategy enabling and electrical ourselves partners. Select, for Select, our productivity Our Contractor our and and us we by Contractor Select to With informed our distributors right differentiated products lighting doing driving contractors them we're cost made-to-order, the product and drive for contractors has on specifiers, them projects. to electrical business choose their to Select, design Design by and focused configurable less the delivering for inventory. their With productivity build empowering of enabling lowering carry to

product even and Both constructed Our quarter, TruWrap SKUs offer more adjustable offices. Round high like color portfolios industrial In storage sports High lighting Lighting the products: we can lighting for levels the Contractor feature Bay this spaces enhances lumen distributors with uniform customers. TruWrap Lithonia three arenas. options, illumination REBL from REBL two multiple fewer launched facilities vitality. switchable technology providing new and rooms, carry end Bay. are for being limited Round Select, with products offering and functionality It locker result features while options three for settings the delivers and and that with of High like large garages open areas, traditional natural settings. The switchable wrap, spaces indoor utility temperature

energy our In with switchable customers, and conditions it for temperature international talent recognized for options, important celebrates controls the is our that value addition the improved the competition manufactured been of DU were they again SensorSwitch and PRIX solutions integrated creative expanded easily our has are an the harsh an to offering and withstand can for Awards, deliver. In quarter, GRANDS once of excellence DESIGN many professionals lighting first selected firms. color be lumen and savings. These our range team to to innovations with

included products, including the winners Cyclone, and Tangram several Luminaires. and family and Joli, Elke Hydrel Eureka FLAME by the Our Mochi Frank, Marro

luminaires well-designed Awards, Pro which Luminis improving Best Newspapers controls the are energy luminaires and spaces occupant of costs, aiding building seamless while compatible interior for elevates of allowing design by with control nLight Syrios and The The Our reducing family Product was outdoor Architect's Syrios compliance our includes community. architecture seamless exterior indoor comfort. serving products a and recognized aesthetic Pro transition. the and and

Now and margin strong quarter another performance. which sales growth moving delivered on of Intelligent to Spaces,

make Spaces spaces and and technologies Intelligent are where interoperability. the In on is through addressable we that greener in with expand what mission using smarter, leverage Our Distech, control connecting a safer data cloud we disruptive to to our the we market. focused strategy edge compete can of

come October, In more This that geographic As SI SIs a full we part for U.K., in of Nashville in and in partners add partners sell brought our quarter, geographies and systems to to the and systems North our highly integrators the is in our suite expansion, Connect controls, Distech we community learn this about the best American together sensors conference. products. together capacity specific engaged best world Australia. Distech Asia to our the continued of applications. Atrius integrator of with

launched systems During management while our technology offering we across was event attendance conference, the on products applications latest and strength the relationships since updates the of also and highlighted and industry. the new This delivered importance continued building and highest the training. the technical trends began year

We they speaking optimum points data there shades who advance are virtual is Last the you space and data using room to both spaces. will based used our into and acquisition and people lighting occupant the if QSC. to lower room, how and managed meeting experience and where the where is comfort, about by how Distech, in-person occupant what its optimize if cooling levels, our to microphones we canceled, space our using experience lowering adjusts, that between to for Through to reverting a QSC transform on to with seamlessly or energy a using unoccupied excited back intelligently heating differently. located, of and promote as that be glare. QSC, room thinking increased is is continue spaces predict data addition maximize data of many an through Atrius can transitioning we end-user interoperability. Imagine the Intelligent that on to a technologies a a about where space We're And aligning satisfaction happens closed control we cameras are walk We're in mission. and Spaces is settings in disruptive week, future now save execute room and costs.

we are an Now larger with America business. company and company lighting the best Spaces in North scale looking technology Intelligent a forward, industrial

to grow Lighting, we path growth profitability and in the either segments. not market, take Brands competed have with where where is is algorithm clear and our verticals Acuity both growth or underpenetrated. In Our share historically we are enter

we data We what technologies user end how our margins. In path that control managed on will Distech, disruptive happens Spaces space Intelligent both improve our QSC, continue a with now space and Atrius promote and is through that can in interoperability. satisfaction through to

and have the to expand growth on be margins. opportunity will we focus Our

are by the We capital profits value balance net turning as we demonstrating and growing fast, cash are sales, into that creating we not are sheet allocators. effective growing and

Now call will acquisition. of the impact the expected who over details the financial on to I'll you our first QSC update more turn provide quarter of and Karen, performance

Karen Holcom

Thank the per of to everyone adjusted We fiscal and margin you, our XXXX. solid operating first share. improved Neil, profit good adjusted grew delivered call. and our quarter morning We sales, and on diluted earnings our performance in increased

Intelligent million, quarter For million sales $XXX as the Lighting prior Spaces year and which grew. first above in the $XX total we net X% AYI, was both generated or of

of profit $X increase or which was basis was was in of the income of by largely margin profit This cash from we XX.X%, the product net gross points a improvements. million, a our year. margin position During up vitality, from last the significant our XX as management of and X% cost increase adjusted quarter, our result $XXX to million operating adjusted prior the and interest expanded sheet. year-over-year year, profit an productivity improvement result operating the balance on driven generated pricing our We

rate lower around the items full XX.X% XX.X% lower in due to rate quarter. of was year This last quarter, our year effective tax and the expected of than than discrete

Lighting, the in for adjusted we direct Finally, to operating XX% our an year-over-year impressive in and operating $X.XX X% Acuity margin million, earnings growth year, sales was deliver diluted $XXX XX.X%, result net was continued our of network primarily or the an profit million down year. In which our increase the or over Adjusted million, of $XXX points delivered Spaces million, independent profit percentage in margin X% $XX $X.XX, was year. Sales XX%, sales $XX profit compared first improvement Adjusted were Intelligent Intelligent and was Distech an channel. operating of sales with operating X the as million of per $XX the slightly to were profit sales in growth. increased above prior of Spaces prior of adjusted which Brands prior share quarter adjusted year-over-year.

million have first Now We flow earned million on turning balance the from cash on cash We performance. cash. We of cash of and we that this returns last on the additional of attractive we financed quarter acquisition quarter with acquisition our million hand. sheet, In $XXX with we operations. of and the remainder flow the $XXX QSC $XXX to the with of cash week. ended debt our closed generated XXXX,

for quarter, QSC. spend reported the minutes to in and a now our share few XX,XXX to our program we the in our beginning During for January. approximately $X of results shares. I want be allocated repurchase inclusion XXXX resumed repurchase approximately updating QSC million outlook will

fiscal $X.X we year adjusted for be $XX. earnings the Our range $X.X share for and and of is within of to within sales total the expect expectations XXXX updated AYI, net that diluted full per will billion range $XX.XX billion

between of year million expect Additionally, $XX have full $XX the XXXX. million year expense and interest fiscal we to for now full

fiscal We purchase impact quarter in adjustments of with as year. throughout our the XXXX. accounting as the will of expenses incur performance integration pleased the well first We're

Intelligent Our us to for Lighting your our now impressive Spaces results. today. I will to well operator delivered over you you pass to questions. take business and business the perform continued Thank joining

Operator

at the first Ryan line coming William of Instructions] question [Operator Merkel Our Blair. from

Ryan Merkel

that from I and you updating to full the thanks expecting off, But for the and guide. wanted First XX-month on accretion, you're the give accretion could QSC us ask QSC?

Neil Ashe

Thanks, Neil. this us morning. it's everyone, being with Ryan, for

full really So relevant, actually, not year. the it's

this So to forward you -- if on -- on ability were roll the have that. think calendar you to I basis, directionally do a would but

X this we Just months what, year. of have,

I have acquisition. our more case. for different a looking XX theory group, X, with This really pleased of believe, Spaces So Intelligent we forward. But importantly, the we're the is,

is opportunity combination what with and data space. And collection the it. have both to the data control control and what to of things We the a do building in happens that unique itself ability that and the

a good at team to off We're that. and part they're really with pleased start really that Acuity. QSC, the with we're of we're excited So

Ryan Merkel

and on trends projects and Okay. visibility improved just then, Neil, Helpful. you And backlog order getting has on can released? comment the those the with pipeline if potentially

Neil Ashe

Yes.

Lighting Ryan, referring there. think So to more I business the you're

So remarks, we're and consistently, the clear we said prepared -- Lighting side, the on The the we're is -- on the pleased performance. algorithm. executing there with our in we're as team growth

perspective, of market 'XX. a interaction we we look obviously, one; our data the 'XX assumption is view that data, our and is believe second, base going from better on number forward, the then than of two. The field number calendar kind be is the calendar working. algorithm As that field, from our forward, growth word that to, external with going We

size the by leading obviously, not performance. in just mean player, I of and leading industry the quality We performance, performance, by are and by but

So that is strong.

you dig our see QX C&I performed that you'll If channel numbers, our into well. pretty

perform but did a Our point really not great, retail in time. just that's channel

you that year the forward, this confidence and rest it gives when So for roll of us beyond.

Ryan Merkel

I if but retail independent accounts up. I point. in channel just that was noticed on last corporate could the important most the the segment, up that And down, were follow

Or sort early? of inflection? is bit So read see recovery, demand that the to it too demand here starting is you're a

Neil Ashe

Let's happens. it call that when

C&I So life our corporate an you I'd a and really accounts, I segmentation direct as is business channel, and on product -- it's the of working know, that's -- coming of strategy a but a effectively. this our demonstration on kind to high-quality really business. say believe inconsistent The

retail have then quarters So there. individual smaller big relationships great on some decisions. And the quarters side, we customer we'll based have some and on

So over the had results or they year so. haven't of great last the course

bit So a a this of in is a catch-up, little point time. but just that's

we're to it's call in obviously, we're but think inflection, confident where going 'XX. early I calendar in the So

Operator

Wojs Tim next And from Baird. the coming of our RW with line question

Timothy Wojs

a question. first I guess just

the the for solely and of raise you did Just to guys on core the core just the Or confirm, I kind guide is guidance? any guide, make want changes is QSC unchanged? to

Karen Holcom

guidance the for just -- the the Yes, adjustment is QSC.

fourth in expect quarter. perform we as base laid we to out the the So business

interest EPS increase then in And that due the see, the the of really is additional in QSC, to so impact increase the sales and an you also expense.

Timothy Wojs

Okay.

of Okay. businesses of integrated or it have QSC, us what's maybe system kind Great. one two these the could and them sense feedback from your why on roof? example historical been kind just under And how just initial customers? kind maybe then a together -- just you And of of give piece to makes

Neil Ashe

sure. back, so Tim. Yes, let's take a step Well,

a And said is build exists this and the of to a we do believe, and space, earlier, driver data have opportunity the build I in case, As in what than that that value industry. of in theory data there's fundamental in an different who's of the the build bring a a generation happens rest space I together the space.

the business then we and So data that believe is controls differentiated a to we've build ability identified. the opportunity

these have So historically overlapped. not

doing So Distech community hey, however. now? the at yet, that, what not and exactly systems that having we And response QSC the which the integrator can is initial at said was, the we integrator from other systems We're sell community expected. one

them one, number -- been performing. as expect our this a for that continue this to and have high-quality is is there we and super that, believe bringing and So strategy to perform want they asset online we

So create how value. from is two benefit we data we And to their then have the to through months. part of to that XX will we're organization finally, being next they our end-user opportunity will of data that do interoperability. over of and And kind the XX and confident step things opportunities combination the one. Step that's happen drive

So interaction how product that though, and a these specific we the initially come example and through and level QSC. the met engineering Distech of between companies an together, already is

Distech happening the those So AV the the their Q-SYS system through interoperability our control acquisition, now, could what so control interface, both building and interface. the was of through control that data created before in

between So but existed very else it's before. anyone it's natural combination, that hasn't one a

Timothy Wojs

Okay.

Okay. one in. to sneak just helpful. That's then And last one

just shipments? implications think people guess, tariff tariffs, has you how Acuity would and are been for Just the general, for channel? maybe the -- in I preparing are how in how Or and is forward the just there sort potential of in any channel managing about how Acuity pull

Neil Ashe

there's not I of of lot a guess action. been I'd and summarize it, Tim, lot by whole talk saying a

So not changes targeted on customers we a potentially made kind no of increase example, -- us in prices future. From purchasing, regrets very our what we've and about win our -- happen customer had decisions going of happens. be we've might expectation the kind asking that in accordingly react have from to of customers ourselves, because something the died down. for a of does are has perspective, small if which nothing we're say so tariffs. of for And we conversation happen, and that is to set we will I'd them expectation there's happened, And that sort act then our will accordingly. the we talk with when prepared, if will that nothing about. lot And

Operator

with coming next line Fargo. from Wells of Our Joe O'Dea question the

Joseph O'Dea

be including guide margin you put year-over-year. time? embedded over Can just digits now like revenue about opportunity It talk the in QSC looks what's for 'XX, QSC, the would low may double their up

at not and rate be versus growth profile, looking of the dissimilar op XX%-ish margin QSC attractive looks the pretty may a on we too kind like ISG. mid-teens for ISG. from So It margins

margin think differences gap, about about how the think that any And do to that? structural when there? narrowing line you So time you

Neil Ashe

Yes.

acquisition, take announced back when I'll is together. So attractive to of this which I've to said you first that we talked Joe, is about we already. what an all, that, opportunity, the bring

in assets Second, which our underlying have has -- financial strong which think similar business our existing profile to business, business. the Spaces we is a we Intelligent

you're to counting think rate mid-teens on of currently I them, which mid-teens is right. We're with for So growth are. we kind where low It's consistent mid-teens. --

priority Our is growth.

similarly to what margins the taking and expectation as that acquisition this not did increase would We with to. done over make need natural be time to costs the There's Distech we we've out. ISG with opportunity we don't business. we grow So a the

that the see that can course X you with last where So of over the years business. gone we've

is, that to people no the answer then business. can't. performance impede structural kind And of that to the our our that existing to your things time. that to So and number growth other two, last want number But priority over of do market is to to start one, deliver there point, the would emphasize to difference continue ability I

Joseph O'Dea

on today, But there from And the overlap then and just much in how system feedback encouraging integrator in of terms is you about and of integrators. QSC going go-to-market percentage systems ISG the systems selling talked sort be those will and the revenue that them? of separate integrators that kind sort that go-to-market to same by opportunity of then leverage through paths through both through set separate

Neil Ashe

more those used among what QSC think end-user Q-SYS, this customers amount of than highlight take and to is There Distech platform that, I'll is very those have So platform, the overlap their used which I smartest is who overlap opportunity, that Joe, a who the and between interesting there. brand. there's important have fair

my is smartest the that got So one and users. about smartest seems it like true was the QSC. Distech Q-SYS observations, of customers when by end I Distech, here, thing Same with

integration So the because is the into as customers. use that, systems for sophisticated QSC most very -- to for and a community, integrator and have technology result opportunity to Distech the best both the they of attractive sell community systems

So we're similar. very in way, that

So have But natural integrator overlap pull believe any time. we the users solutions plans from have that for we're those deliver. to going I we the over don't for initial able a end will sophisticated communities most be do that to systems to

Operator

coming from the line with of question Our Morgan Snyder Stanley. next Chris

Christopher Snyder

QSC. and at seen are that with? Or accretion just the these a calling of growing really for and potential. steady-state that questions seem Maybe is maybe does just the kind to following there potential of of generating any begin up moderate you revenue some the Is mid-teen It of the QSC, guys like cost around is on surgery kind margins which of rationale strategic into that we've year? kind all this $X.XX of is synergy the factored business continuation

Neil Ashe

back, Welcome Chris. Yes.

XX So the they process. or expectation for of our they and business go the the we'll through is operate to have that as integration first so continue months operated

I costs are the out the of present as revenue said, feel a of take result growth. their synergies future, to the we don't want as think -- not I this. business. prioritize So And in the We to need

Christopher Snyder

that believe, for that. can think to the see XXX-basis-point call, gross kind I I And phenomenal about push levels think to a be continuing conference and like from obviously, kind appreciate you long going margin of you guys margin the the, continues it XX%. company. gross that of to It seems here? of talked margin guess I implies to I how you guess, grow that long story do on Neil, from ABL margins gross mean in, you I just term. we operating get I could last XX- then, medium these And to over range ago to wondering if to level that where margin right continue drive takeaway higher the expansion. that were is wasn't the

Neil Ashe

one? take want Karen, do you to this

Karen Holcom

to again. Yes. Chris, you good from hear

impact holiday. gross Intelligent You're with at right. we're products up but few the on margin. When year-over-year. this on We're really the were over We reflection service, like years think Spaces quarter, going product of points over presentation. to to the last done product basis technology and We're not Particularly a time. growth XXX with we having pleased ABL, it the going with and XX.X% highlighted of gross the productivity, at that on it's which also about quarter seen you margin vitality, work what stop, was profit have expansion profit you've of vitality, past course an strategy we've is our the the

products value higher delivering material less with content. we're where So

that investments. course some over of improve still quarter think make margins. going about last investments We will margins. basis We've to We're to your talked our power room operating an that margin to XX the from we technology the business improvement perspective. do there. And yes, we continue ABL gross XXX need question, think was So at to points time, on profit of comment answer there's profit our to make that to some

that over bit a see really time. feel more get in to little But we So investment to good elsewhere. perform you and business about margins overall, continuing improve benefits SG&A may

Operator

of Oppenheimer. Our next Glynn the with coming Christopher question from line

Christopher Glynn

A lot ABL on of pivot little so I'll good more. QSC, to detail a

the and release about talked activity You've agency positive last times project input being and some quarters fairly few there. a factor delays of kind

And suggesting items coalesce? I'm a opportunity as inflation goes main if if to activity for the So the release and pacing build still bit financing the the are wondering of momentum agency is a year on?

Neil Ashe

Yes, think are Chris, I those questions. good

So and big the kind to of general. I'll picture, react agency in network

to continues perform. network agency Our

So in of I important an the we or channel their of independent what the the network call. at do that is highlighted sales performance earlier part ABL. performance

towards -- look And let As at exactly those. at for look to future we do ABI, the interest those of do a And look factors. me a We which rephrase we inflation, few It's us, look at in other we exactly look data at trend, predict improved all what do or rates. unclear opens kind that. we 'XX. It's of point unclear me personally -- collectively to And what at time. of we on be and improving performance regular expected a over consistent majority a net-net, -- sure we over seen. that not sentiment based We said accelerating our this strong normal kind the survey everyone remains time, everybody. the not I'm to to b, Having talked them; is a, be community. The it's on expects agency them basis. data we've to in that,

normal, So that like of a it sort to a or opens that, net-net, here. like feels steady be going not feels floodgate anything like but this there's from build

Christopher Glynn

Great. Okay.

good sounds us say, to for baseline like you patterns on, very seasonal ABL? So normal focus is would a it for

Neil Ashe

if point, outgrow the see I think can Yes, that. starting we that's and we'll

Operator

Our the Vertical Sprague next Research. from of with question Jeffrey coming line

Jeffrey Sprague

of loose a for just Maybe me, cover. ends lot of a couple ground

down a tick bit. base just which operating First, little to want ABL margins, touch on did

So and directions margin quarter? question and with that SG&A investment on different going of terms in margin and the went the fact in in is what's operating gross maybe the larger the

Neil Ashe

Karen?

Karen Holcom

Yes.

you are in kind with we our consistent last dollar the see So before, we it back And half trended expenses if look of continuing are basis, year. at of that talked more a ABL. some I where Jeff, about to you'll as make on sequentially in investments

then continue sales as a see our is bit second really investments. opportunity those to feel good of half, back, expenses. manage about the described, of management little And sales So those to improve. But start you'll percent the in to we've come the as we more

But in which we We a technology, to half some opportunity elsewhere we operating expenses of sales will think or could overall, back P&L. some those leverage benefits the back there's year. as identify invest bit of as in and the higher little come expenses the in -- fixed the grow

Jeffrey Sprague

And then, Neil, this lack idea of or sort common know, that customers of set the that referencing? the a to smartest, terms applies that there I most customer business you'd of type you're characteristics sophisticated or customers [indiscernible] or theme of in using say some Distech, across market of, vertical QSC, is or relates it the don't thereof that company as

Neil Ashe

I'd their to Jeff, consistency they that centrally have identified Yes, forward, want about and they of I operations customers the their -- things of locations. that manage get those say the or across their we fleet consistency that is generally buildings technology

are of one, spaces. for, the number they their looking and one; to and uses they're of manage they're looking So productivity how productivity two, those space, able for number

give So the specific examples. you -- two and I'll

tech That's to family forward a of kind the the Conference attend. Connect paid systems of XXX that in So conference so mentioned, up, showed business who opportunity. we integrators reunion we had Distech they Nashville. It's combination

what our Advisory call some there our Building best -- one was one our a of panels So -- from Council. was our we customers -- were was obviously, of we a of the and it --

by really case I'd Distech ton you Stanford that they studies for was of provides them. Similarly, is interesting he talking University classroom Indiana go which to if facilities interfaces. a the runs Q-SYS, they consistency interesting, found that highlight one the on technology campus have gets, guy I read. really the the leverageability website, their Distech and each which the that their So of get over QSC's normalized to using basically about benefits and are of University

them which there's when into productivity So to it spaces, of gives that the can amount small consistency of manage walk how large space that additional so operates, they a end spaces significant and centrally. that a they user

same, user which CIO is the getting the are end to the space. outcomes become of in the driving the head closer and manage driving they that and data facilities trends the technology, So is the organization which then to are productivity how creating space

Jeffrey Sprague

of Great. And sorry, out Karen, correct? quick purchase your construct, mentioned one maybe like. just and for that's you accounting the All one inventory I'm though, Karen. and adjusted

Karen Holcom

Yes, it is.

not expectations, that of correct. would adjusted share our diluted included per in be All earnings

Operator

And our next Castelli from question coming line the is with of Brett Morningstar.

Brett Castelli

to just I seeing ABL customers? portfolio the on specifically and you're product just on and there wanted traction ask the with Design Select

Neil Ashe

how the really welcome. growth The Brett, -- portfolio our we've and highlighted, segmentation as productivity is Yes, strategy partners. drive about we and ourselves for

surprisingly growth So execute how is Select portfolio the with name, is drive really the really Design the not created productivity community, to design given and and they can their projects.

process. multiyear, at our really expect X-year but Select of the kind this it we're in to to X- we The we growth expected our Design which sales, is to this point, I think, So traction of for of where is a early be be attributable -- us. good still there. We're progression -- percentage is ahead are to

we're to them, item meaning that we out to right. for those in and the roll it time, from what the when Design second strong. over external select products value creates are for -- think with do has to going we it. of the get available understand how They products understand community inning reaction that us The third can of we But the they're we're is second, the been it So gating very starting premise, inning in they Select.

value. not So through we're create muscling right this. to We're way the doing this long-term

Brett Castelli

terms what just And any, Karen, just year. curious paydown, if maybe part then And capital on great. for That's the allocation of for that? potential the of of thinking debt remainder as you're in

Karen Holcom

Sure. Yes.

let just first, priorities. our capital me on So reiterate allocation,

as our businesses capital and our M&A in share current growth, there, repurchases. doing So you our priorities for increase see clearly to allocation we're make what for invest in are invest to dividend also then

have specifically, we the things And this ability the we cash. we to when your down announced to quickly lot in the address do said, do do we generate future. options us to give acquisition of So pretty as more debt pay a question to is

bit with including did paying the paying our of repurchase of announcement So would our highlight cash I this XX the a market program all the down We were quarter. can QSC. of the we also over -- debt resume capital share address months. allocation the out generation, next little priorities, XX we of our to over because

we've So last probably quarter. just in late quarter, the of entered had the the month

we of looks continue a but to pleased the as that we program expect it that and outcome light, little program, and to So bit repurchase be continue so well. our with

Operator

no questions in the I'm closing to like the Ashe queue at I'd And to for Neil this any time. turn back over call showing further remarks.

Neil Ashe

operator. prepared this you for lighting We Obviously, Thank us It's Thank Great. we're North said we company in pleased performing. you, have with first -- the best morning. as quarter. performance remarks, the in in America. joining the our all we

and have opportunity a to continue algorithm We growth margins. for the increase clear to

as create We also differentiated brings net turn cash and unique us, that clear now sales, we we sheet in data and growth Intelligent and the we provide have together profits grow the into a is marketplace. grow business, Spaces We're control don't opportunities we balance it and a We to on value. believe how way larger which scale can in fast.

look you thank again for we us next to joining you So and quarter. morning, talking this to forward

Operator

Thank conference our Ladies participation. your today. and that gentlemen, for for does you conclude

may You now disconnect.

Acuity Brands (AYI) 8 Jan 252025 Q1 Earnings call transcript