In this Research Note, we examine the development of Acuity Brands Intelligent Spaces Group (ISG) and its FY2024 financial results, y/e 31st August 2024. Our analysis is based on the 1st October 2024 news release, presentation, and transcripts of quarterly earnings calls throughout the fiscal year. We also examine Distech Controls’ position in the French market and the Atrius suite of software products. In a separate research note last week, we covered Acuity Brands’ acquisition of QSC. Acuity Brands FY2024 Financial Highlights Net sales of $3.84 billion for the full year of fiscal 2024 decreased $111.2 million, or 2.8%, from $3.95 billion in the full year of fiscal 2023. Adjusted operating profit as a % of net sales was 16.7% for the full year of fiscal 2024, an increase of approximately 160 basis points compared to the prior year. Acuity Brands Infographic, 1st October 2024 Intelligent Spaces Group (ISG) The Intelligent Spaces Group accounting for […]