Overview
- Net sales rose 20.2% year over year to $1.14 billion with adjusted EPS of $4.69, topping the consensus estimate.
- Acuity Intelligent Spaces revenue jumped to $257.4 million, up about 250% from a year ago, while Lighting & Controls delivered $895.1 million, up 1%.
- Consolidated adjusted operating margin expanded to 17.2% as Intelligent Spaces reached 22.0% and adjusted EBITDA increased to $211.2 million.
- Operating cash flow totaled $140.8 million as the company repurchased roughly 77,000 shares for about $28 million and repaid $100 million of term debt, ending with $376.1 million in cash.
- Despite the results, shares fell roughly 14% intraday to $317.15, following premarket strength earlier in the day.