Acuity Inc.

Good morning, and welcome to the ACQUITY Fiscal 2026 Fourth Quarter and Full Year Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, the company will conduct a question and answer session. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Charlotte McLaughlin, Vice President of Investor Relations. Charlotte, please go ahead.

Thank you, operator. Good morning and welcome to the ACQUITY fiscal 2026 fourth quarter and full year earnings call. On the call with me this morning are Neil Ashe, our chairman, president and chief executive officer, and Karen Holcom, our senior vice president and chief financial officer. Today's call will include updates on our strategic progress and on our fiscal 2026 fourth quarter and full year performance. There will be an opportunity for Q&A at the end of the call. As a reminder, some of our comments today may be forward-looking statements. We intend these forward-looking statements to be covered by the safe carbon provision of the Private Securities Litigation Reform Act of 1995, as detailed on slide 2 of the accompanying presentation. Reconciliations of certain non-GAAP financial metrics with their corresponding GAAP measures are available in our 2026 fourth quarter earnings release and supplemental presentation, both of which are available on our investor relations website at www.investors.acuityinc.com. Thank you for your interest in Acuity. I will now turn the call over to Neil Ashe.

Thank you, Charlotte. And thank you all for joining us this morning. We demonstrated solid execution in the fourth quarter of fiscal 2026. We grew sales, expanded our adjusted operating profit and adjusted operating profit margin. We increased our adjusted diluted earnings per share, generated strong cash flow, and allocated capital effectively. Throughout fiscal 2026, we strengthened ABL while continuing to scale AIS, building the operating and financial capacity needed to compound growth and value over time. In Acuity Brands Lighting, we continue to advance our strategic and operational priorities. During the fourth quarter, I appointed Ruth Gratzky as president of ABL. Ruth brings extensive leadership experience across go-to-market, product and engineering, and operations in complex industrial technology and infrastructure businesses. Lighting and lighting controls are essential technologies in every built space, and we have differentiated ABL through our industry-leading capabilities, trusted brand portfolio, and strong customer relationships across luminaires and electronics. I believe the combination of Ruth's experience advancing growth and innovation, technical depth, and operating discipline make her the right leader to build on AVL's strong foundation and capture the opportunities ahead. Product vitality is core to our strategy in AVL. Within our Luminaires portfolio, we are introducing new products and leveraging established product families to address customer needs and growth opportunities. In the fourth quarter, we expanded the BLT family from Lithonia Lighting with a purpose-built luminaire for data centers. Designed around the specialized ceiling grid system used in these facilities, it simplifies installation while bringing BLT's proven performance and reliability to a growing end market. In Luminous, we expanded the Holocore family with the introduction of Holocore Element. The solution extends the offering by broadening the range of applications and mounting options, providing architects and designers with greater flexibility while delivering a cohesive visual aesthetic across spaces. And we introduced Ridge by Hydrel, a premium outdoor linear floodlight range used for facades, bridges, tunnels, and stadiums. Rich combines precision optics with durability and installation flexibility to deliver differentiated architectural lighting outcomes in some of the most challenging environments. Our electronics portfolio also continues to evolve. At the controls layer, nLight connects luminaires and sensors into a single intelligent control architecture that scales from a single room to an entire campus. nLight helps customers reduce energy consumption, improve occupant comfort, simplify code compliance, and gain visibility into building performance through both wired and wireless control options. SensorSwitch completes the offering with contractor-preferred solutions for simpler applications. At the components layer, EldoLED is transforming LED drivers from traditional hardware components into configurable solutions through EldoLED Studio, a cloud-based application that enables customers to configure, deploy, manage, and update drivers more efficiently. The newly released Acela 85W driver leverages EldoLED Studio and NFC technology to allow customers to tailor the driver to specific applications while simplifying deployment and ongoing management. This creates opportunities to deliver new updates, enhance capabilities, and differentiate performance throughout the lifecycle of the lighting solution. The industry continues to recognize our innovation. This quarter, six of our products, including Eureka River and the SensorSwitch TLS twist-to-lock sensor, were included in the IES progress report. Three of our campaigns earned TED Best of the Best Awards, and three products, including Eureka's Torno, received SIT Design Awards, an international program recognizing creativity and innovation in furniture and interior design. Now, switching to Acuity Intelligence Spaces, which continue to deliver strong sales and margin performance. In AIS, we have differentiated and growing portfolios in building operations and in experiences. Over time, a common data architecture will enable interoperability across these portfolios, improving productivity for our customers and making spaces increasingly autonomous. I want to spend some time reflecting on QSC's first full year as part of Acuity. We have aligned the team and established a solid foundation for continued growth. During 2026, our focus was on delivering strong performance and increasing our addressable market by extending Q-SYS into new customer spaces, introducing new solutions, and making progress on our multinational expansion. Q-SYS is recognized for delivering high-quality experiences in spaces ranging from theme parks and stadiums to campuses and corporate offices. Our recently introduced Network Video Management offering, or NVM, represents the next generation of video distribution within the Q-SYS platform. NVM enables customers to connect, distribute, and manage low-latency video across hundreds of endpoints through a common operating environment. This allows customers to deliver live video to hundreds of screens in complex environments like stadiums and casinos. In 2026, we also advanced our vision of transforming all spaces into high-impact spaces. We introduced Room Suite, the Collaboration Bar, and the Scheduling Panel to bring this capability to small and medium-sized spaces. These solutions illustrate how Q-SYS provides a common platform to manage experiences of all sizes, from individual collaboration rooms to complex high-impact environments. The industry is already recognizing the value this delivers to our customers. During the quarter, Q-SYS received multiple awards at InfoComm 2026, including the Best of InfoComm Awards for the Room Suite Collaboration Bar and the Scheduling Panel, and Commercial Integrator's Best Case Study of the Year Award for the Q-SYS Microsoft Experience Center. As we enter 2027, I want to step back and talk about what we are building at Acuity. Our strategy is simple. We are building a compounder, compounding our operating capacity that in turn compounds our financial capacity. 2026 was an important year. We advanced core strategic and operational initiatives in Acuity Brands Lighting and invested in the capabilities needed for long-term growth. And we scaled Acuity Intelligence Basis, which is now a quarter of our business, by developing strategically differentiated portfolios that uniquely position us in the market. We believe that our Acuity platform is our strategic differentiator. We define our platform as our values, how we create value, our better, smarter, faster operating system, and increasingly, our human-agentic organization. We are leading in the development of a human-agentic organization, one in which people and intelligent systems work seamlessly together to unlock new capabilities, elevate performance, and accelerate growth. We have been very purposeful in how we have rolled out AI in our business. We are redesigning core processes across the organization through the combination of agentic abilities and reimagined workflows. This is creating repeatable capabilities that can be deployed across the company, accelerating productivity improvements and scaling expertise. We are embedding AI in many of our products. Examples of this include Q-SYS Reflect and Atrius Data Lab, which help customers better understand, manage, and optimize their spaces through data, analytics, and actionable insights. These capabilities improve outcomes today while creating opportunities to deliver new applications and services in the future. and we are increasing associate productivity through LLMs and agentic workflow development so that our associates can spend more time applying judgment and creating value. Our ACQUITY platform provides the context, capabilities and operating discipline to make better decisions, move with greater velocity and turn knowledge, judgment and experience into repeatable advantage. It is how we are able to operate more productively with greater distribution of responsibility and accountability throughout the organization. Now, looking ahead. In Acuity Brands Lighting, we are focused on product vitality, elevating service levels, using technology to improve and differentiate both our products and how we operate the business, and driving productivity. Our growth algorithm is clear. We will enter new verticals, we will take share, and we will grow with the market. And as we have done in the past, we intend to add around 50 to 100 basis points of adjusted operating profit margin per year. In Acuity Intelligence Spaces, we have differentiated and growing portfolios in building operations and in experiences. Our focus will continue to be on growth, both organic and inorganic, and we have the opportunity to continue to expand margins over time. We are effective capital allocators. We have grown our business organically and through acquisitions, we have increased our dividends, and we have been opportunistic in repurchasing more of our outstanding shares. In conclusion, we have demonstrated resilience and adaptability across our organization. We are building the operating and financial capacity needed to compound growth and value over time. Now, I'll turn the call over to Karen, who will update you on our fourth quarter performance and our fiscal 2027 outlook.