Acuity's stock surged 14.53% during intraday trading on Thursday, following the release of the company's fiscal third-quarter financial results that exceeded analyst expectations across key metrics.

The industrial technology firm reported adjusted earnings per share of $5.31, surpassing the consensus estimate of $5.19 and representing a 4% increase from the same period last year. Net sales reached $1.20 billion, also beating expectations of $1.18 billion and marking a 2% year-over-year growth. The company's adjusted operating profit of $224 million exceeded the estimated $212.5 million.

The strong performance was primarily driven by significant growth in the Acuity Intelligent Spaces (AIS) segment, which saw sales rise 15% year-over-year to $303.5 million, offsetting a slight decline in the Acuity Brands Lighting segment. Management cited "solid execution" and highlighted the generation of strong cash flow, with operating cash flow totaling $520.2 million year-to-date and share repurchases of $230 million during the period.