FINANCIALS
“During a time of uncertainty, Acuity Brands demonstrated the durability of our business by being a consistent generator of free cash flow.”
Karen J. Holcom, Senior Vice President and Chief Financial Officer
ABOUT KAREN
Having worked at Acuity Brands for nearly 20 years, Karen is a tangible, results-oriented business leader with deep experience in accounting, forecasting, reporting, profitability and analytics who has a passion for creating shareholder value.
2020 Financial Performance
(in millions of dollars, except earnings per share)
for the year ended August 31
Operations |
2020(1) |
2019(2) |
% Change |
Net sales | $3,326.3 | $3,672.7 | (9%) |
Gross profit % | 42.2% | 40.3% | |
Operating profit | $353.9 | $462.9 | (24%) |
Operating profit % | 10.6% | 12.6% | |
Net Income | $248.3 | $330.4 | (25%) |
Diluted earnings per share | $6.27 | $8.29 | (24%) |
Diluted weighted average number of shares outstanding (in millions) | 39.6 | 39.8 | |
Return on stockholders’ equity | 12.2% | 18.2% | |
Cash provided by operating activities | $504.8 | $494.7 | 2% |
Depreciation and amortization | $101.1 | $88.3 | 14% |
Capital expenditures | $54.9 | $53.0 | 4% |
Financial Position |
2020(1) |
2019(2) |
% Change |
Total assets | $3,492 | $3,172 | 10% |
Total cash | $561 | $461 | 22% |
Total debt | $401 | $357 | 12% |
Total stockholders’ equity | $2,128 | $1,919 | 11% |
Ratio of total debt to capital | 15.9% | 15.7% | |
Operating working capital as a percentage of net sales (3) | 14.8% | 15.3% |
(1) 2020 results include pre-tax special charges associated with streamlining initiatives of $20.0 million, pre-tax amortization of acquired intangible assets of $41.7 million, pre-tax share-based payment expense of $38.2 million, and pre-tax acquisition-related items of $2.5 million, totaling $2.00 per share.
(2) 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 $1.28 per share.
(3) Operating working capital is defined as net receivables plus inventories minus accounts payable.
Revenues ($ in millions)
Operating Profit ($ in millions)
Margin
Diluted EPS
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
8/15 | 8/16 | 8/17 | 8/18 | 8/19 | 8/20 | |
---|---|---|---|---|---|---|
Acuity Brands, Inc. | $100.00 | $141.51 | $91.16 | $79.09 | $65.16 | $57.07 |
S&P Midcap 400 | $100.00 | $112.33 | $126.22 | $151.46 | $141.73 | $147.71 |
Dow Jones U.S. Electrical Components & Equipment | $100.00 | $114.34 | $142.55 | $166.80 | $149.67 | $172.79 |
Dow Jones U.S. Building Materials & Fixtures | $100.00 | $124.07 | $130.22 | $138.15 | $152.97 | $180.26 |
*$100 invested on 8/31/15 in stock or index, including reinvestment of dividends. Fiscal year ending August 31.