Acuity Brands Files 2024 10-K

TL;DR

AYI filed its 2024 10-K. Financials look solid, but keep an eye on market conditions.

AI Summary

Acuity Brands Inc. filed its 10-K for the fiscal year ending August 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Atlanta, GA, operates in the electric lighting and wiring equipment sector. This filing provides a comprehensive overview of its financial health, strategic initiatives, and risk factors for investors.

Why It Matters

This 10-K filing is crucial for investors and stakeholders to understand Acuity Brands' financial standing, strategic direction, and potential risks for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing covers a full fiscal year and includes standard disclosures for a public company, indicating a medium level of risk associated with its operations and market position.

Key Numbers

• 2024-08-31 — Fiscal Year End (The reporting period for the 10-K filing.)
• 2023-08-31 — Prior Fiscal Year End (Provides a comparative point for financial analysis.)
• 2022-08-31 — Previous Fiscal Year End (Offers a longer-term financial perspective.)

Key Players & Entities

• ACUITY BRANDS INC (company) — Filer
• 2024-08-31 (date) — Fiscal Year End
• Atlanta, GA (location) — Business Address
• ELECTRIC LIGHTING & WIRING EQUIPMENT (industry) — Standard Industrial Classification
• L&C SPINCO INC (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value per share AYI New York Stock
• $251.24 — ice of the Registrant's common stock of $251.24 as quoted on the New York Stock Exchang
• $102.3 m — 4, 2023, and 2022, R&D expenses totaled $102.3 million, $97.1 million, and $95.1 million
• $97.1 m — 2, R&D expenses totaled $102.3 million, $97.1 million, and $95.1 million, respectively.
• $95.1 m — aled $102.3 million, $97.1 million, and $95.1 million, respectively. Industry Overview

Filing Documents

• ayi-20240831.htm (10-K) — 2372KB
• ayi-20240831xex4b.htm (EX-4.B) — 30KB
• ayi-20240831xex10iiia43.htm (EX-10.IIIA(43)) — 13KB
• ayi-20240831xex19.htm (EX-19) — 125KB
• ayi-20240831xex21.htm (EX-21) — 32KB
• ayi-20240831xex22.htm (EX-22) — 3KB
• ayi-20240831xex23.htm (EX-23) — 10KB
• ayi-20240831xex24.htm (EX-24) — 23KB
• ayi-20240831xex31a.htm (EX-31.A) — 10KB
• ayi-20240831xex31b.htm (EX-31.B) — 10KB
• ayi-20240831xex32a.htm (EX-32.A) — 6KB
• ayi-20240831xex32b.htm (EX-32.B) — 6KB
• ayi-20240831_g1.jpg (GRAPHIC) — 112KB
• image_0a.jpg (GRAPHIC) — 1KB
• image_1a.jpg (GRAPHIC) — 40KB
• image_2a.jpg (GRAPHIC) — 0KB
• image_3a.jpg (GRAPHIC) — 0KB
• 0001144215-24-000085.txt ( ) — 14724KB
• ayi-20240831.xsd (EX-101.SCH) — 69KB
• ayi-20240831_cal.xml (EX-101.CAL) — 147KB
• ayi-20240831_def.xml (EX-101.DEF) — 528KB
• ayi-20240831_lab.xml (EX-101.LAB) — 1080KB
• ayi-20240831_pre.xml (EX-101.PRE) — 832KB
• ayi-20240831_htm.xml (XML) — 2553KB

, Item 5; Part III, Items 10, 11, 12, 13, and 14 Proxy Statement for 2025 Annual Meeting of Stockholders

Part II, Item 5; Part III, Items 10, 11, 12, 13, and 14 Proxy Statement for 2025 Annual Meeting of Stockholders ACUITY BRANDS, INC. Table of Contents Page Part I Item 1. Business. 1 Item 1A. Risk Factors. 6 Item 1B. Unresolved Staff Comments. 16 Item 1C. Cybersecurity. 16 Item 2. Properties. 17 Item 3. Legal Proceedings. 18 Item 4. Mine Safety Disclosures. 18 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities. 19 Item 6. [Reserved] 20 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 29 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 30 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 76 Item 9A.

Controls and Procedures

Controls and Procedures. 76 Item 9B. Other Information. 76 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections. 76 Part III Item 10. Directors, Executive Officers, and Corporate Governance. 77 Item 11.

Executive Compensation

Executive Compensation. 77 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 77 Item 13. Certain Relationships and Related Transactions, and Director Independence. 77 Item 14. Principal Accountant Fees and Services. 77 Part IV Item 15. Exhibits and Financial Statement Schedules. 78 Item 16. Form 10-K Summary. 86

Signatures

Signatures 87 Table of Contents PART I

Business

Item 1. Business. Overview Acuity Brands, Inc. (referred to herein as "we," "our," "us," the "Company," or similar references) is a market-leading industrial technology company. We use technology to solve problems in spaces and light. Through our two business segments, Acuity Brands Lighting and Lighting Controls ("ABL") and the Intelligent Spaces Group ("ISG"), we design, manufacture, and bring to market products and services that make a valuable difference in people's lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management solutions, and location-aware applications. ABL Segment Our ABL strategy is to increase product vitality, elevate service levels, use technology to improve and differentiate both our products and how we operate the business, and drive productivity. ABL's portfolio of lighting solutions includes commercial, architectural, and specialty lighting in addition to lighting controls and components that can be combined to create integrated lighting controls systems. We offer devices such as luminaires that predominantly utilize light emitting diode ("LED") technology designed to optimize energy efficiency and comfort for various indoor and outdoor applications. ABL's portfolio of products includes but is not limited to the following brands: A-Light TM , Aculux TM , American Electric Lighting , Cyclone TM , Dark to Light , eldoLED , Eureka , Gotham , Healthcare Lighting , Holophane , Hydrel , IOTA , Juno , Lithonia Lighting , Luminaire LED TM , Luminis , Mark Architectural Lighting TM , nLight , OPTOTRONIC , Peerless , RELOC Wiring Solutions, and SensorSwitch TM . Principal customers of ABL include electrical distributors, retail home improvement centers, electric utilities, corporate accounts, original equipment manufacturer ("OEM") customers, digital retailers, lighting showrooms, and energy service companies. Our customers are located in North America and

Risk Factors

Item 1A. Risk Factors. This filing contains forward-looking statements within the meaning of the Private Se

View Full Filing

View this 10-K filing on SEC EDGAR