Example: Acuity Inc., results release of 1 October 2026
Sales rose 6.8% for the year, but 2.3% in the half with QSC in both periods.
Net sales rose $296.2m to $4,641.8m. Of that increase, $241.5m (82%) came in the first half, against months before Acuity owned QSC, bought on 1 January 2025. In the second half, with QSC in both years, sales rose $54.7m, or 2.3%.
The release gives the year and the fourth quarter, not that split.
Question for management: what was growth in the second half without QSC, and which base should holders use for fiscal 2027?
Sources: results releases of 1 October 2026 (Form 8-K, Exhibit 99.1) and 25 June 2026 (Form 8-K, Exhibit 99.1); Form 10-K for the year to 31 August 2025, Note 4, Acquisitions and Divestitures.