Acuity Brands delivered a solid Q3 2025 with revenue of $1.1786 billion, up 21.7% year over year and 17.1% quarter over quarter, supported by strength in both Acuity Brands Lighting (ABL) and Intelligent Spaces (AIS), including three months of QSC sales. GAAP gross margin stood at 48.38% (management commentary pointed to a roughly 50% level in practice), and adjusted operating profit rose to $222 million with an 18.8% adjusted operating margin, driven by ABL gross profit gains, AIS strength, and the early benefits of the QSC integration. Net income of $98.4 million declined year over year by 13.6%, while GAAP diluted EPS was $3.12 and unadjusted EPS was $3.19, reflecting growth initiatives and one-time effects being managed through the period. Free cash flow yielded $192.3 million for the quarter as operating cash flow reached $207.3 million, underpinning a strong balance sheet and disciplined capital allocation (dividends up 13% and ~344k shares repurchased YoY).