Acuity Brands net sales for the third quarter of fiscal year 2020 declined by 18.1%

Acuity Brands，Inc.日前公布了截至2020年5月31日的第三季度业绩。第三季度净销售额为7.76亿美元，较上年同期下降18.1％，这主要是由于销量下降20％，原因是COVID-19大流行对需求产生了负面影响，但部分被约2%的收购收益抵消。产品价格和销售产品组合的变化与去年同期持平，因为销售渠道组合的有利变化被整体较低的价格所抵消。

Gross profit for the third quarter of fiscal year 2020 was $328 million, a decrease of $56 million compared to $384 million in the same period last year, primarily due to lower sales volume, partially offset by reductions in certain input costs and contributions from acquisitions. The gross margin for the third quarter of fiscal year 2020 was 42.2%, an increase of 170 basis points compared to the same period last year. The improvement in gross margin was mainly attributed to lower costs of certain inputs, contributions from acquisitions, and a favorable mix of (Sales) channels, partially offset by a decline in average selling price.

The company recognized pre-tax special charges of $3 million for the third quarter of fiscal year 2020, primarily consisting of severance and employee-related expenses incurred as a result of actions taken to address the reduced demand caused by the COVID-19 pandemic.

Neil Ashe, President and CEO of Acuity Brands, stated: “Our company performed well in the challenging market environment related to the global COVID-19 pandemic. Our comprehensive strengths in our (Sales) channels, product portfolio, and supply chain enabled us to effectively meet the needs of customers across different categories. Despite lower revenue, we were able to expand gross margins and generate cash through a series of actions taken before and during the pandemic.”

Year-to-date results

Net sales for the first nine months of fiscal year 2020 were $2.4 billion, compared to $2.7 billion in the same period last year, a decrease of 11.0%. Operating profit for the first nine months of fiscal year 2020 was $248 million, compared to $333 million in the same period last year, a reduction of $85 million, or 25.4%. The operating profit margin for the first nine months of fiscal year 2020 decreased by 200 basis points to 10.2% of net sales, compared to 12.2% of net sales in the same period last year. Net income for the first nine months of fiscal year 2020 was $175 million, a decrease of $60 million, or 25.5%, compared to $234 million in the same period last year.

Neil Ashe stated: 'We are demonstrating the resilience of our business and its ability to continuously generate cash. However, there is still significant uncertainty regarding the timing of demand and economic recovery. In addition, we expect pricing pressure and ongoing costs related to tariffs in the fourth quarter of fiscal year 2020. Looking ahead, we plan to continue balancing cost management with transformational investments. We have a strong new product portfolio that is expected to benefit from the recovery in demand.' (Compiled and organized by China Light Network)