Acuity Inc.

What drives the forecast

• September 24 CapIQ: normalized $5.66 EPS (seven contributing forecasts) and $1,253.53m revenue (six); slightly above consensus, not a large revision.
• June quarter AIS sales grew 14.9% to $303.5m, with adjusted operating margin 25.1%; model assumes $299m AIS for the August quarter and $965m ABL from five disclosed sales channels.
• FY26 adjusted EPS guide $19.00–$20.50 implies Q4 midpoint around $5.61 after the first nine months; the $5.73 forecast stays in the implied range.
• July US construction spending was 3.8% below July 2025; ex-data-center nonresidential building was weak, limiting the lighting sales beat assumption.
• Issuer operating-margin execution and modest repurchases offset potential weak direct-channel sales; model excludes the prior-quarter $6.4m tariff refund from normalized income.