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Acuity Inc. (AYI) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Acuity Inc. (AYI) Q2 2026 Earnings Call April 2, 2026 8:00 AM EDT

Company Participants

Charlotte McLaughlin – Vice President of Investor Relations
Neil Ashe – Chairman, President & CEO
Karen Holcom – Senior VP & CFO

Conference Call Participants

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Joseph O’Dea – Wells Fargo Securities, LLC, Research Division
Christopher Snyder – Morgan Stanley, Research Division
Ryan Merkel – William Blair & Company L.L.C., Research Division
Christopher Glynn – Oppenheimer & Co. Inc., Research Division
Tyler Bisset – Goldman Sachs Group, Inc., Research Division
Jeffrey Sprague – Vertical Research Partners, LLC
Robert Schultz – Robert W. Baird & Co. Incorporated, Research Division

Presentation

Operator

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Good morning, and welcome to the Acuity Fiscal 2026 Second Quarter Earnings Call. [Operator Instructions] 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.

Charlotte McLaughlin
Vice President of Investor Relations

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Thank you, operator. Good morning, and welcome to the Acuity Fiscal 2026 Second Quarter 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 our fiscal 2026 second quarter 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 harbor provisions 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 second quarter earnings release and supplemental presentation, both of which are available on our Investor Relations website at www.investors.acuityinc.com.

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Three Undervalued ASX 200 Shares Poised for Strong Growth in 2026

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FTSE 100 Surges 0.8% Today as Oil Eases and Markets

SYDNEY — As the Australian sharemarket navigates mixed economic signals in April 2026, including steady Reserve Bank of Australia rates and sector-specific pressures, several S&P/ASX 200 stocks are trading at significant discounts to their estimated intrinsic value, positioning them for potential substantial upside as earnings momentum builds through the year.

FTSE 100 Surges 0.8% Today as Oil Eases and Markets
Three Undervalued ASX 200 Shares Poised for Strong Growth in 2026

Analysts and valuation models highlight opportunities in technology-enabled services, healthcare diagnostics and digital travel platforms, where current share prices lag behind projected cash flow growth and recovery tailwinds. While no investment is without risk, these three ASX 200 constituents stand out for their attractive valuations and catalysts that could drive meaningful capital appreciation in 2026.

1. PEXA Group Ltd (ASX: PXA)

PEXA Group, Australia’s leading digital property exchange platform, is frequently cited among the most undervalued ASX 200 stocks in early 2026. Recent cash flow-based models estimate its fair value near A$29, compared with a current trading price around A$15.50, implying a discount of approximately 46%.

The company dominates electronic conveyancing in Australia and has expanded into the United Kingdom market. Its platform streamlines property settlements, reducing paperwork and errors while generating recurring revenue through transaction fees. With housing market activity expected to rebound as interest rates stabilize or ease later in 2026, PEXA stands to benefit from higher transaction volumes.

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Analysts project revenue growth in the high-single to low-double digits annually, supported by operational leverage and international scaling. The business model features high margins once scaled, with improving profitability as fixed costs are spread across more transactions. Risks include regulatory changes in property markets and slower-than-expected housing recovery, but its near-monopoly position in key jurisdictions provides defensive qualities.

For investors, PEXA offers exposure to the structural shift toward digital services in a traditionally paper-heavy sector. If valuations re-rate toward intrinsic levels amid stronger earnings, the stock could deliver significant total returns in 2026.

2. Nuix Ltd (ASX: NXL)

Nuix, a global leader in data analytics and investigative software, appears deeply undervalued with estimated fair value around A$2.45 against a current share price near A$1.30, suggesting a potential uplift of over 80% according to some discounted cash flow analyses.

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The company’s technology helps law enforcement, regulators, corporations and legal teams process vast amounts of unstructured data for eDiscovery, investigations and compliance. Demand remains robust amid rising cyber threats, regulatory scrutiny and complex litigation. Nuix has invested in artificial intelligence enhancements to improve search accuracy and speed, positioning it at the intersection of big data and AI growth trends.

Recent financials show progress toward sustainable profitability, with a focus on recurring subscription revenue. As global organizations increase spending on data governance and forensic tools, Nuix’s addressable market continues expanding. The stock’s volatility reflects past execution challenges, but improved operational discipline and product innovation have rebuilt confidence among some analysts.

In 2026, catalysts could include major contract wins, further AI feature rollouts and margin expansion. For growth-oriented investors comfortable with technology sector risks, Nuix represents a high-conviction opportunity trading at a fraction of its long-term potential.

3. SiteMinder Ltd (ASX: SDR)

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SiteMinder, a cloud-based hotel booking and distribution platform, rounds out the trio with models indicating fair value near A$5.65 versus a current price around A$3.00, pointing to roughly 88% potential upside.

The company provides independent hotels and chains with tools to manage online distribution, direct bookings and revenue optimization. Its software connects properties to thousands of travel sites worldwide, helping operators capture more revenue while reducing reliance on third-party commissions.

Travel recovery post-pandemic has been uneven, but 2026 forecasts suggest stronger international and domestic tourism as economic conditions stabilize. SiteMinder benefits from network effects — more hotels on the platform attract more channels, and vice versa — supporting scalable growth with high incremental margins.

The business has demonstrated resilience through industry cycles and continues investing in product enhancements, including AI-driven pricing recommendations. While competition exists, SiteMinder’s established integrations and data insights provide a competitive edge.

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Analysts expect revenue growth to accelerate with travel demand, potentially driving re-rating of the stock as earnings visibility improves. For portfolios seeking exposure to the travel sector without direct airline or hotel ownership risk, SiteMinder offers leveraged upside to a global rebound.

Broader Context and Risks

These three stocks share common traits: they operate in scalable, technology-driven markets with structural growth drivers yet trade at discounts amid recent market rotation away from growth names. The ASX 200 has faced headwinds from higher interest rates and selective sector weakness, creating valuation opportunities for patient investors.

Morningstar and other research houses have flagged energy, healthcare and select consumer sectors as undervalued heading into 2026, though individual stock selection remains critical. PEXA, Nuix and SiteMinder sit within technology and services areas where earnings growth could outpace the broader market if macro conditions improve.

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Key risks include execution challenges, competition, regulatory shifts and macroeconomic slowdowns that could delay recovery in housing, data spending or travel. High-growth stocks often carry elevated volatility, and valuations may remain depressed longer than expected if investor sentiment stays cautious.

Diversification, thorough due diligence and consultation with licensed financial advisers are essential. Past performance does not guarantee future results, and these shares could underperform if projected catalysts fail to materialize.

Investment Considerations for 2026

With the RBA’s cash rate holding steady and potential for modest easing later in the year, lower borrowing costs could support activity in property, travel and corporate spending — sectors relevant to these companies. Corporate Australia’s ongoing digital transformation further underpins demand for their solutions.

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Analysts emphasize focusing on free cash flow generation, competitive moats and management execution when evaluating undervalued growth opportunities. Companies trading at large discounts to intrinsic value can deliver strong returns as the market recognizes their potential, but timing remains uncertain.

As April 2026 unfolds, earnings seasons for these firms will provide fresh data points on trading momentum and guidance. Investors monitoring the ASX 200 for value may find these names warrant closer attention amid a backdrop of selective opportunities.

While the broader market outlook remains measured, with expectations of solid but not spectacular returns, undervalued stocks with credible growth paths can outperform during re-rating phases. PEXA Group, Nuix and SiteMinder exemplify this theme, offering exposure to digital innovation in traditional industries.

Investors should weigh their risk tolerance and portfolio construction carefully. No single stock guarantees success, but a disciplined approach to valuation can uncover compelling opportunities even in uncertain times.

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JLR sees sales recover after cyber attack

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JLR sees sales recover after cyber attack

Work at plants in Solihull, Halewood and outside Wolverhampton restarted in October.

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Wall Street inches lower as investors assess Middle East developments

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Reality TV Star Konrad Bien-Stephen Dies Suddenly at 35

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Konrad Bien-Stephen

MELBOURNE, Australia — Konrad Bien-Stephen, the Australian reality television personality known for his charismatic appearances on “The Bachelorette” and “The Challenge Australia,” has died suddenly at the age of 35, his management confirmed Thursday.

Konrad Bien-Stephen
Konrad Bien-Stephen

Bien-Stephen passed away on Monday night in Melbourne, according to multiple reports. No cause of death has been publicly disclosed, and authorities have not released further details as of early Thursday. His manager described the loss as deeply saddening, with tributes pouring in from fellow reality stars, fans and former partners.

“It is with deep sadness that we share the news of the passing of Konrad Bien-Stephen,” his management said in a statement. “He will be deeply missed.” The statement offered no additional information on circumstances surrounding his death.

Bien-Stephen rose to national prominence in 2021 as a fan favorite on the seventh season of “The Bachelorette Australia,” pursuing lead Brooke Blurton. The Melbourne-based carpenter advanced to the final four before his elimination, winning over viewers with his genuine demeanor, humor and grounded personality. His time on the show marked the beginning of a brief but memorable stint in the spotlight.

He later competed on “The Challenge Australia” in 2022, reaching the semifinal. The physically demanding competition series tested his endurance and strategy, further cementing his reputation as a likable and resilient contestant. Bien-Stephen also made appearances on “Bachelor in Paradise.”

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Beyond reality television, Bien-Stephen worked as a carpenter in Melbourne prior to his TV career. After his reality stints, he explored acting opportunities and expressed mixed feelings about returning to unscripted programming. In interviews, he described “The Bachelorette” as a wholesome experience while calling “The Challenge” a mental and physical “mindf**k.”

His personal life often drew media attention. Bien-Stephen was in a highly publicized open relationship with fellow reality star Abbie Chatfield from late 2021 to mid-2022. The couple’s romance played out publicly before they parted ways amicably. Chatfield broke her silence Thursday with an emotional tribute.

“Rest in peace Konrad,” Chatfield posted on Instagram, remembering him as “a very caring man who deserved to live a very long life.” She added that she was “heartbroken too,” reflecting on their shared history. Other former connections, including brief romances with “The Challenge” co-star Megan Marx and singer Thelma Plum, were noted in coverage of his dating life.

Tributes flooded social media as news of his death spread. “I’m A Celebrity” and “Married at First Sight” star Cyrell Paule commented simply “RIP.” Fans recalled his authenticity on screen, describing him as honest, grounded and genuine in an industry often criticized for manufactured drama.

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Colleagues and friends highlighted his warmth off-camera. Many noted his transition from tradesman to television personality as a testament to his approachable nature. Bien-Stephen’s death has sent shockwaves through Australia’s tight-knit reality TV community, prompting reflections on the pressures and fleeting nature of fame.

As of Thursday afternoon, no funeral arrangements had been publicly announced. Friends and family requested privacy during this difficult time while expressing gratitude for the outpouring of support.

The sudden nature of Bien-Stephen’s passing at such a young age has prompted an outpouring of condolences across platforms. Reality television has lost a memorable figure whose brief time in the public eye left a positive impression on many viewers.

Bien-Stephen’s appearances resonated particularly with audiences seeking relatable contestants amid the often dramatic world of dating shows. His carpenter background and down-to-earth attitude contrasted with more polished reality personalities, making him stand out during Brooke Blurton’s season.

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After “The Bachelorette,” he embraced the opportunities reality TV provided but remained candid about its challenges. In one interview, he discussed the mental toll of “The Challenge” and his desire to pursue acting rather than further reality projects.

His relationship with Abbie Chatfield became one of the more talked-about storylines in Australian entertainment circles at the time. The pair navigated public scrutiny while maintaining an open dynamic before deciding to part ways without acrimony.

Chatfield’s tribute underscored the affection many held for Bien-Stephen. She described him as caring and expressed sorrow that his life ended far too soon. Other stars echoed similar sentiments, remembering his kindness and humor.

The broader entertainment industry has offered support to his loved ones. Messages of condolence continue to appear on social media, with fans sharing favorite moments from his television appearances and expressing disbelief at the news.

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Bien-Stephen’s death highlights the vulnerability of young adults even in an era of increased health awareness. While no official cause has been confirmed, the suddenness has left many questioning how someone seemingly fit and vibrant could pass at 35.

Australian media outlets, including 7NEWS, Sky News, The Sydney Morning Herald and news.com.au, reported the story prominently Thursday, emphasizing his popularity on “The Bachelorette” and subsequent shows. Coverage noted the outpouring of grief and the impact on those who knew him personally.

As details remain limited, fans and colleagues await any further statements from family or management. In the meantime, the focus remains on celebrating his life and the joy he brought to viewers during his time on screen.

Reality television often brings strangers together under intense circumstances, forging bonds that can last beyond the cameras. Bien-Stephen’s journey from carpenter to contestant exemplified that path, and his sudden departure has reminded many of the fragility of life.

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His legacy, though brief in the public eye, endures through the memories of fans who appreciated his authenticity. In an industry filled with larger-than-life personalities, his grounded presence stood out.

As the reality TV community mourns, thoughts turn to his family, friends and those closest to him. The loss of a 35-year-old leaves an irreplaceable void, prompting reflections on cherishing moments and supporting one another through grief.

No additional information on memorial services or family statements had emerged by late Thursday. Updates are expected in the coming days as arrangements are made.

For now, the Australian entertainment world pauses to remember Konrad Bien-Stephen — the fan-favorite contestant, the caring partner, the aspiring actor and the genuine soul whose light shone brightly during his time in the spotlight.

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AAII Sentiment Survey: Neutral Sentiment Drops

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AAII Sentiment Survey: Neutral Sentiment Drops

This article was written by

Charles Rotblut, CFA is the editor of the AAII Journal, the flagship publication of The American Association of Individual Investors (AAII). Charles provides both insight about individual investor sentiment and market analysis. He is also the author of “Better Good than Lucky: How Savvy Investors Create Fortune with the Risk-Reward Ratio” (W&A Publishing/Trader’s Press).

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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The Light System on Building a New Category in Wellness Technology

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What to Expect From LED Light Therapy Treatment Sessions

The Light System is an emerging wellness technology company built on decades of foundational work by inventor Robert J. Religa.

The brand launched under the leadership of President Jarrod Barakett, with headquarters in Sheridan, Wyoming and operations supported by a warehouse in Miami, Florida.

The company sits at the intersection of light-based technology and holistic health. Its core product uses proprietary software, polychromatic and bio-photonic light, and a scalar field to engage the body’s energy systems. The concept is rooted in the idea that the body has an innate ability to restore balance when supported by coherent energetic inputs.

From a business perspective, The Light System™ represents a new category within wellness technology. It blends elements of photobiomodulation, geometry, and frequency-based systems into a single platform. Early adoption has come from private users, retreat centres, and holistic practitioners seeking non-invasive tools for stress regulation and overall well-being.

One of the company’s key challenges has been translating complex scientific and energetic concepts into accessible language. Leadership has responded by focusing on user experience and real-world outcomes rather than technical explanation alone.

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Barakett and his team have prioritised disciplined growth. Their strategy balances operational execution, customer feedback, and long-term expansion into global markets. At its core, the company positions itself around measurable impact, both in user experience and in building a sustainable, mission-driven organisation.

Inside The Light System™: Leadership, Innovation, and the Business of Frequency-Based Wellness

Q: Can you take us back to the origins of The Light System™? How did this begin?

The foundation actually goes back decades. Robert J. Religa spent years developing the core technology, exploring how light, colour, and frequency interact with the body’s energy systems. What we launched is the commercial evolution of that work. The challenge was not just building the product, but building a company around it at the same time.

Q: What does that early stage of building the company look like in practical terms?

It meant doing everything at once. We were establishing operations in Sheridan, Wyoming while also setting up a warehouse in Miami, Florida. At the same time, we were refining messaging, building credibility, and delivering product. It required very structured execution and a clear sense of priorities.

Q: The technology itself is complex. How did you approach explaining it to people?

At first, we tried to explain everything. Scalar fields, bio-photonic light, encoded frequencies. It was too much. People disengaged. We learned quickly that experience matters more than explanation. So we simplified how we communicate. We let people sit in the system and form their own understanding.

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Q: Was that a turning point for the business?

Yes, it changed engagement significantly. Once we stopped leading with technical detail and started leading with user experience, people became more open. Testimonials and real-world feedback became central to how the business grows.

Q: How would you describe your position within the broader wellness industry?

We see ourselves as part of an emerging category. There is growing interest in energy-based and frequency-based approaches, but it is still early. Our role is to bridge that gap between innovation and understanding without overstating what we do.

Q: What has been the biggest challenge so far?

Bridging credibility. These concepts are not yet mainstream. There is natural scepticism. We do not try to overcome that with persuasion. We focus on education and let results speak over time.

Q: How do you measure success at this stage?

It is both quantitative and qualitative. On one side, we track production timelines, delivery, and growth. On the other, we look at user feedback and repeat engagement. If people return to the system and report meaningful experiences, that matters.

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Q: What role does leadership play in a business like this?

A large one. In wellness, alignment matters. If leadership is not grounded or clear, the business becomes inconsistent. We focus on clarity, communication, and long-term thinking. This is not a short-cycle industry.

Q: How do you balance short-term operations with long-term vision?

We run two tracks. Short-term is execution. Product delivery, customer support, partnerships. Long-term is scaling access globally and continuing research and development. You cannot ignore either.

Q: Where does ongoing learning fit into your strategy?

It is essential. We stay engaged with research in photobiomodulation, energy systems, and nervous system science. At the same time, we are learning from manufacturing, logistics, and entrepreneurship. It is a constant process.

Q: What continues to drive the company forward?

The individual user. Often it is someone who feels they have tried many things and are still looking for balance. When someone reports a shift, whether physical or emotional, that reinforces the purpose behind the work.

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Cargill invests in Malysia edible oil plant

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