Acuity Brands Fiscal 2Q Sales Rise 17%

The industrial technology company net sales of $909.1 million for the second quarter of fiscal 2022 ended February 28.
In the latest earnings reporting period for publicly-traded companies, these distributors and manufacturers reported strong sales figures.

Atlanta-based Acuity Brands, (NYSE: AYI) announced fiscal 2022 second-quarter net sales of $909.1 million, an increase of $132.5 million, or 17.1%, compared to the same period in fiscal 2021.

Diluted earnings per share was $2.13, an increase of 22.4% over the prior year, the company reported.

“I am proud of the strong performance delivered by our team through the second quarter of fiscal 2022,” said Neil Ashe, chairman, president and CEO of Acuity Brands, Inc. “Our focus on service and product vitality has allowed us to meet current customer demand while also investing in the long-term growth and transformation of our company.”

Gross profit of $379.3 million for the second quarter of fiscal 2022 increased $42.6 million, or 12.7%, over the prior year, the company said.

The increase was driven by revenue growth as well as “our ability to offset the significant increase in material and freight costs through price increases and product and productivity improvements,” Acuity Brands reported.

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