Acuity Brands' Intelligent Spaces Revenue Soars 15% in Mixed Q3 Results - Acuity Brands (NYSE:AYI)

　　Lighting and building management firm Acuity Brands, IncAYI reported a fiscal third-quarter 2024 net sales decline of 3.2% year-over-year to $968.1 million, missing the analyst consensus estimate of $1.01 billion.

　　It clocked an adjusted EPS of $4.15, beating the analyst consensus estimate of $4.13.

　　Sales by segments:Acuity Brands Lighting (ABL) and Lighting Controls revenue hit $898.5 million (-4.5% Y/Y), and Intelligent Spaces Group (ISG) clocked $75.7 million (+15.0% Y/Y).

　　The consolidated adjusted operating margin grew by 100 bps to 17.3%. ABLs adjusted operating margin expanded by 100 bps to 18.0%. ISG's margin increased by 340 bps to 22.9%.

　　The company generated $445.1 million in operating cash flow for the first nine months of fiscal 2024, a decrease of $26.4 million compared to the prior year.

　　Adjusted EBITDA was $180.0 million, up from $175.6 million a year ago. The margin expanded by 100 bps to 18.6%.

　　Acuity Brands stock gained over 48% in the last 12 months. Investors can gain exposure to the stock via iShares Core S&P Mid-Cap ETFIJH and Vanguard Small-Cap ETFVB.

　　Price Action:AYI shares are down 0.73% at $238.01 premarket at the last check Thursday.