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Acuity Brands (AYI) Misses on Q2 Earnings and Revenues
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Acuity Brands, Inc. (AYI - Free Report) is the North American market leader and one of the world`s leading providers of indoor and outdoor lighting and energy management solutions. The company designs, produces, and distributes various lighting solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally.
Management remains focused on generating higher operating margins as volume grows. Volume leverage and productivity are the drivers of the margin expansion. AYI also makes investments in product development that are increasingly digital in nature. This will support growth including tooling for new products, expansion and electronic capacity.
Investors should also note that the earnings estimates for AYI have moved downward in the past 60 days for the current quarter. Again, AYI has posted positive earnings surprise in only one of the past four quarters, with an average miss of 0.96%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AYI missed on earnings. Our consensus estimate called for EPS of $1.70 per share, and the company reported EPS of $1.65 (after adjusting for non-recurring items) instead.
Revenues: AYI reported revenues of $804.7 million. This missed our consensus estimate of $825.01 million.
Stock Price Movement: Shares were down 10.8% during pre-market trading session at the time of writing.
Check back later for our full write up on this AYI earnings report later.
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Acuity Brands (AYI) Misses on Q2 Earnings and Revenues
Acuity Brands, Inc. (AYI - Free Report) is the North American market leader and one of the world`s leading providers of indoor and outdoor lighting and energy management solutions. The company designs, produces, and distributes various lighting solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally.
Management remains focused on generating higher operating margins as volume grows. Volume leverage and productivity are the drivers of the margin expansion. AYI also makes investments in product development that are increasingly digital in nature. This will support growth including tooling for new products, expansion and electronic capacity.
Investors should also note that the earnings estimates for AYI have moved downward in the past 60 days for the current quarter. Again, AYI has posted positive earnings surprise in only one of the past four quarters, with an average miss of 0.96%.
Currently, AYI has a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AYI missed on earnings. Our consensus estimate called for EPS of $1.70 per share, and the company reported EPS of $1.65 (after adjusting for non-recurring items) instead.
Acuity Brands Inc Price and EPS Surprise
Acuity Brands Inc Price and EPS Surprise | Acuity Brands Inc Quote
Revenues: AYI reported revenues of $804.7 million. This missed our consensus estimate of $825.01 million.
Stock Price Movement: Shares were down 10.8% during pre-market trading session at the time of writing.
Check back later for our full write up on this AYI earnings report later.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>