Acuity Brands Inc (NYSE:AYI) stock rose 0.41% (As on June 28, 11:19:06 AM UTC-4, Source: Google Finance) after the company posted mixed result for the third quarter of FY 24. Adjusted operating profit was $167.1 million in the third quarter of fiscal 2024, an increase of $4.2 million, or 2.6 percent, compared to the prior year. Adjusted operating profit as a percent of net sales was 17.3 percent in the third quarter of fiscal 2024, an increase of 100 basis points compared to the prior year. Net cash from operating activities was $445.1 million for the first nine months of fiscal 2024, a decrease of $26.4 million compared to the prior year. Year-to-Date, the Company had repurchased approximately 454,000 shares of common stock for a total of approximately $89 million.

AYI in the third quarter of FY 24 has reported the adjusted earnings per share of $4.15, beating the analysts’ estimates for the adjusted earnings per share of $4.13. The company had reported the adjusted revenue decline of 3 percent to $968 million in the third quarter of FY 24, missing the analysts’ estimates for revenue of $1.01 billion.

Moreover, Acuity Brands Lighting and Lighting Controls (“ABL”) generated net sales of $898.5 million in the third quarter of fiscal 2024, a decrease of $42.2 million, or 4.5 percent, compared to the prior year. ABL operating profit was $151.5 million in the third quarter of fiscal 2024, an increase of $1.5 million, or 1.0 percent, compared to the prior year. ABL operating profit as a percent of ABL net sales was 16.9 percent in the third quarter of fiscal 2024, an increase of 100 basis points compared to the prior year. ABL adjusted operating profit was $162.1 million in the third quarter of fiscal 2024, an increase of $2.4 million, or 1.5 percent, compared to the prior year.

Intelligent Spaces Group (“ISG”) generated net sales of $75.7 million in the third quarter of fiscal 2024, an increase of $9.9 million, or 15.0 percent, compared to the prior year. ISG operating profit was $12.5 million in the third quarter of fiscal 2024, an increase of $3.9 million compared to the prior year. ISG operating profit as a percent of ISG net sales was 16.5 percent in the third quarter of fiscal 2024, an increase of 340 basis points compared to the prior year. ISG adjusted operating profit was $17.3 million in the third quarter of fiscal 2024, an increase of $4.5 million compared to the prior year.