In a conference call with investors on 3 OCT, Acuity CEO Vernon Nagel discussed the industry price increase in great detail. He stated, “Our view is that the industry follows through on these price increases.”
He also spoke about their new Contractor Select program which is an attempt to capture some of the stock and flow business that Tier 1 companies have lost. Nagel stated, “The margin profile of Contractor Select is solid. But when I look at the overall average or compare it to larger projects, it’s not there, and it never will be, but our cost to serve is also a lot less.”