Why it has increased dramatically this week

  • The Acuity Brands, Inc. (NYSE: AYI) share price has risen more than 14% in the past few trading days. That’s why it happened.

The Acuity Brands, Inc. (NYSE: AYI) share price has risen more than 14% in the past few trading days. Investors are responding positively to the company’s fourth quarter and full year 2021 results.

The company reported net sales of $ 992.7 million for the fiscal fourth quarter ended August 31, 2021, an increase of $ 101.5 million, or 11.4% from the same period in 2020. And diluted earnings per share was $ 2.72, an increase of 45.5. percent over the prior year, and adjusted diluted earnings per share was $ 3.27 per share, an increase of 39.1 percent over the prior year.

Q4 results

– The company reported gross profit of $ 419.3 million, up $ 44.2 million, or 11.8% from the previous year. And the gross margin was 42.2% of net sales for the fourth quarter of fiscal 2021, an increase of 10 basis points from 42.1% in the fourth quarter of fiscal 2020. Gross profit margin was hit this quarter by an increase in materials, labor and freight. costs. This impact was largely offset by our continued improvements in our products and productivity, increased sales volume and the benefits of recent price increases.

– Operating income of $ 132.8 million increased $ 26.9 million, or 25.4%, from the prior year. Operating profit was 13.4% of net sales for the fourth quarter of fiscal 2021, an increase of 150 basis points from 11.9% for the fourth quarter of fiscal 2020 thanks to the ‘improvement in gross profit and the leverage of our operating expenses.

– Adjusted operating income of $ 156.4 million increased $ 25.7 million, or 19.7%, for the fourth quarter of fiscal 2021 compared to the prior year. And adjusted operating profit was 15.8% of net sales for the fourth quarter of fiscal 2021, an increase of 110 basis points from 14.7% in the fourth quarter of fiscal 2020.

– Net income of $ 98.1 million increased $ 24.4 million, or 33.1%, from the prior year. And diluted earnings per share of $ 2.72 increased $ 0.85, or 45.5%, for the fourth quarter of fiscal 2021, compared to $ 1.87 for the fourth quarter of fiscal year. 2020.

– Adjusted net income of $ 117.7 million increased $ 24.9 million, or 26.8%, from the prior year. Adjusted diluted earnings per share of $ 3.27 increased $ 0.92, or 39.1%, from $ 2.35 for the fourth quarter of fiscal 2020.

Summary of the year 2021

– Net sales reached $ 3.5 billion for the full year 2021, an increase of $ 134.7 million or 4% from fiscal 2020.

– Gross profit of $ 1.5 billion increased $ 72.6 million, or 5.2%, in fiscal 2021, compared to the prior year. And the gross profit margin was 42.6% for fiscal 2021, an increase of 40 basis points from 42.2% for fiscal 2020.

– Operating income of $ 427.6 million increased $ 73.7 million, or 20.8%, in fiscal 2021, compared to the prior year. And operating profit represented 12.4% of net sales for fiscal 2021, an increase of 180 basis points from the previous year. Adjusted operating income of $ 506.3 million increased $ 50 million, or 11%, for fiscal 2021 compared to the prior year. And adjusted operating profit was 14.6% of net sales for fiscal 2021, an increase of 90 basis points from the previous year.

– Net income of $ 306.3 million increased $ 58 million in fiscal 2021, or 23.4%, from the prior year. And diluted earnings per share of $ 8.38 increased $ 2.11, or 33.7%, for fiscal 2021, compared to $ 6.27 for fiscal 2020.

– Adjusted net income of $ 371.7 million increased $ 44.4 million for fiscal 2021, or 13.6%, from the prior year. And adjusted diluted earnings per share of $ 10.17 increased $ 1.90 in fiscal 2021, or 23%, compared to $ 8.27 in fiscal 2020.

KEY QUOTE:

“I am proud of the progress our team has made in transforming our business in fiscal 2021. We have improved our operations and delivered strong performance in a challenging environment. We enter fiscal 2022 in a strong position with a diverse and skilled team, driven by our values ​​to deliver results for our clients, our investors and our environment. “

– Neil Ashe, CEO of Acuity Brands

Disclaimer: This content is intended for informational purposes. Before you make an investment, you need to do your own analysis.


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