Acuity Brands delivered a solid start to fiscal 2025 with improved profitability and prudent capital allocation, supported by ongoing product vitality and a growing Intelligent Spaces ecosystem. Total net sales for QQ1 2025 were $951.6 million, up 2% year over year, driven by sustained growth in the Lighting segment and a 15% year-over-year expansion in Intelligent Spaces (ISG) revenue to $74 million. The company posted adjusted operating profit of $159 million and an adjusted operating margin of 16.7%, reflecting gross margin strength (47.2%) driven by product vitality, pricing discipline, and productivity improvements. GAAP net income was $106.7 million with diluted earnings per share (EPS) of $3.36; management highlighted the EBITDA framework and internally generated cash flow, with free cash flow of $113.3 million and cash balance of $936 million at quarter end. Notably, Acuity closed the acquisition of QSC, expanding the Intelligent Spaces platform; the company anticipates full-year 2025 net sales of $4.3–$4.5 billion and adjusted diluted EPS of $16.50–$18, with interest expense of $20–$25 million and ongoing integration costs. Management stresses a growth-first agenda: grow with the market, take share, and penetrate architectural and design verticals via Design Select and Contractor Select, while leveraging Distech, Atrius, and QSC to create data-enabled, energy-efficient spaces. The near-term focus remains on integrating QSC, expanding margins across both Lighting and ISG, and maintaining disciplined capital allocation (dividends, buybacks, and selective debt financing).