By Connor Hart
Acuity's sales jumped in its fiscal third quarter, while earnings came in ahead of Wall Street's estimates.
The company, which provides lighting and building-management solutions, on Thursday posted net income of $98.4 million, or $3.12 a share, for its three months ended May 31, compared with net income of $113.9 million, or $3.62 a share, a year earlier.
Adjusted per-share earnings came in at $5.12, topping the $4.44 that analysts polled by FactSet expected.
Sales increased 22%, to $1.18 billion, just above the $1.15 billion that Wall Street modeled.
Sales from its lighting business ticked up 2.7% to $923.2 million from a year earlier. The company noted that it accelerated productivity actions in the business during the recent quarter, resulting in $29.7 million of special charges that included the elimination of brands, associate severance and facility reorganization.
Acuity's intelligent-spaces unit notched sales of $264.1 million, more than tripling from prior-year results.
Shares were up 7.8%, to $310, in premarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 26, 2025 06:48 ET (10:48 GMT)
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