Acuity Brands 2019 Annual Report

PERFORMANCE

2019 FINANCIAL PERFORMANCE

(in millions of dollars, except earnings per share)

for the year ended August 31

Operations 
2019(1)
2018(2)
% Change 
Net sales $3,672.7 $3,680.1 0%
Gross profit % 40.3% 40.4%  
Operating profit $462.9 $460.8 0%
Operating profit % 12.6% 12.5%  
Net Income $330.4 $349.6 (5%)
Diluted earnings per share $8.29 $8.52 (3%)
Diluted weighted average number of shares outstanding (in millions) 39.8 41.0  
Return on stockholders’ equity 18.2% 20.9%  
Cash provided by operating activities $494.7 $351.5 41%
Depreciation and amortization $88.3 $80.3 10%
Capital expenditures $53.0 $43.6 22%
Financial Position 
2019(1)
2018(2)
% Change
Total assets $3,172 $2,989 6%
Total cash $461 $129 257%
Total debt $357 $357 (0%)
Total stockholders’ equity $1,919 $1,717 12%
Ratio of total debt to capital 15.7% 17.2%  
Operating working capital as a percentage of net sales (3) 15.3% 16.3%  

(1) 2019 results include pre-tax special charges associated with streamlining initiatives of $1.8 million, pre-tax amortization of acquired intangible assets of $30.8 million, pre-tax share-based payment expense of $29.2 million, pre-tax manufacturing inefficiencies related to the closure of a facility of $0.9 million, and pre-tax acquisition-related items of $2.5 million, totaling $1.28 per share.

(2) 2018 results include pre-tax special charges associated with streamlining initiatives of $5.6 million, pre-tax amortization of acquired intangible assets of $28.5 million, pre-tax share-based payment expense of $32.3 million, pre-tax acquisition-related items of $3.8 million, excess inventory related to the closure of a facility of $3.1 million, gain on sale of a business of $5.4 million, and discrete income tax benefits of the U.S. Tax Cuts and Jobs Act of $34.6 million, totaling $0.32 per share.

(3) Operating working capital is defined as net receivables plus inventories minus accounts payable.

$2,707

$3,291

$3,505

$3,680

$3,673

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’16
’17
’18
’19

Revenues
($ in millions)

$376.3

12.5%

$475.2

13.9%

$527.5

14.4%

$460.8

14.8%

$462.9

12.4%

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’16
’17
’18
’19

Operating Profit
($ in millions)

Margin

$5.09

$6.63

$7.43

$8.52

$8.29

’15
’16
’17
’18
’19

Diluted EPS
 

$232.4

$262.0

$269.3

$307.9

$441.7

’15
’16
’17
’18
’19

Free Cash Flow
($ in millions)

Free Cash Flow is defined as cash provided by operating activities minus purchases of property, plant, and equipment.

5-Year Cumulative Total Return*

Among Acuity Brands, Inc., the S&P Midcap 400, the Dow Jones U.S. Electrical Components & Equipment, and the Dow Jones U.S. Building Materials & Fixtures.

Acuity Brands, Inc.

S&P Midcap 400

Dow Jones U.S. Electrical Components & Equipment

Dow Jones U.S. Building Materials & Fixtures

  8/14 8/15 8/16 8/17 8/18 8/19
Acuity Brands, Inc. $100 $158 $223 $144 $125 $103
S&P Midcap 400 $100 $100 $112 $126 $151 $142
Dow Jones U.S. Electrical Components & Equipment $100 $90 $103 $128 $150 $135
Dow Jones U.S. Building Materials & Fixtures $100 $115 $143 $150 $159 $177

*$100 invested on 8/31/14 in stock or index, including reinvestment of dividends.
Fiscal year ending August 31.