Acuity Brands, Inc. Provides Effective Tax Rate Guidance for the Year Fiscal 2018 and Fiscal 2019
January 09, 2018 at 10:00 am EST
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Acuity Brands, Inc. provides effective tax rate guidance for the year fiscal 2018 and fiscal 2019. The company expects effective income tax rate, which encompasses federal, state and foreign income taxes, will approximate 26% to 28% for the full year fiscal 2018 before discrete items compared with nearly 35% for the prior year. The company also anticipate that the tax rate for the second quarter of fiscal 2018 will be significantly lower than the estimated full year blended tax rate to adjust for the 35.5% tax rate recorded for the first quarter of fiscal 2018.
The company currently estimate that the fiscal 2019 effective income tax rate will approximate 23% to 25% before discrete items.
Acuity Brands, Inc. is an industrial technology company. The Company uses technology to solve problems in spaces and light. It operates through two segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG). ABL's portfolio of lighting solutions includes commercial, architectural, and specialty lighting in addition to lighting controls and components that can be combined to create integrated lighting control systems. It offers devices, such as luminaires that utilize light emitting diode (LED) technology designed to optimize energy efficiency and comfort for various indoor and outdoor applications. ABL's brand portfolio include Aculux, Indy, Gotham, and more. ISG offers a building management platform and location-aware applications. Its building management platform includes products for controlling heating, ventilation, and air conditioning (HVAC), lighting, shades, and building access that deliver end-to-end optimization of building systems.
ACUITY BRANDS, INC. 
