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In the last reported quarter, the company’s adjusted earnings and sales topped the Zacks Consensus Estimate by 18.1% and 6.4%, respectively. On a year-over-year basis, the top and bottom lines increased by 27.1% and 17.9%, respectively.
Acuity Brands beat earnings expectations in the trailing nine quarters.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has decreased to $3.35 from $3.40 over the past 60 days. The estimated figure indicates an increase of 2.5% from $3.27 per share reported in the year-ago quarter. The consensus mark for revenues is pegged at $1.11 billion, suggesting an 11.7% increase from $992.7 million a year ago.
The focus on product vitality and service levels, solid contribution from its Acuity Brands Lighting and Lighting Controls or ABL segment, benefits from recent price increases and the OSRAM DS business acquisition are likely to have driven growth for Acuity Brands during the fourth quarter of fiscal 2022.
The company is focused on investing in product development. It has been introducing new lighting and controls products and evolving certain parts of the product and solutions portfolio. These products use fewer inputs and are highly mobile. Some of the products are globally sourced, while others are manufactured in the company’s facilities to mitigate the supply-chain complexity, thereby helping in improving margins.
The company has been investing in prioritizing deliveries for customers when others have been unable to. It has been focusing on certain areas to create compelling new products that are both innovative and market-moving. These moves are likely to have contributed to fiscal fourth-quarter revenues.
Segment-wise, it remains optimistic about the ABL business. The Zacks Consensus Estimate for ABL segment revenues is currently pegged at $1,070 million, up from $1,061 million in the fiscal third quarter.
Despite higher raw materials and freight costs, along with supply-chain interruptions for electrical components, Acuity Brands’ fourth-quarter fiscal 2022 earnings are likely to have registered a year-over-year growth, given effective cost management and price increase across the portfolio.
The company has been banking on its strength in go-to-market channels and product portfolio. Its focus on service and product vitality and inorganic moves also bode well. The acquisition of a developer and manufacturer of lighting components — OSRAM’s North American Digital Systems business in July 2021 — is expected to have contributed to its top line.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for AYI this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Currently, AYI has a Zacks Rank #3 and an Earnings ESP of +0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
According to our model, here are some companies that have the right combination of elements to post an earnings beat in their respective results.
Dycom Industries, Inc. (DY - Free Report) has an Earnings ESP of +2.34% and holds a Zacks Rank #1.
DY is expected to register 34.7% growth in earnings for the to-be-reported quarter. Notably, DY reported better-than-expected earnings in all of the last four quarters, with the average surprise being 140%.
PulteGroup, Inc. (PHM - Free Report) has an Earnings ESP of +1.75% and a Zacks Rank #3.
PHM’s earnings for the to-be-reported quarter are expected to grow 51.7%. The company reported better-than-expected earnings in three of the last four quarters but missed on one occasion, with the average surprise being 5.6%.
Martin Marietta Materials, Inc. (MLM - Free Report) has an Earnings ESP of +5.19% and a Zacks Rank #3.
MLM is expected to register 14.8% growth in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in two of the trailing four quarters and missed on the other two occasions, with the average negative surprise being 8%.
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Acuity Brands (AYI) to Report Q4 Earnings: What's in Store?
Acuity Brands, Inc. (AYI - Free Report) is slated to announce fourth-quarter fiscal 2022 results on Oct 4, before the opening bell.
In the last reported quarter, the company’s adjusted earnings and sales topped the Zacks Consensus Estimate by 18.1% and 6.4%, respectively. On a year-over-year basis, the top and bottom lines increased by 27.1% and 17.9%, respectively.
Acuity Brands beat earnings expectations in the trailing nine quarters.
Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has decreased to $3.35 from $3.40 over the past 60 days. The estimated figure indicates an increase of 2.5% from $3.27 per share reported in the year-ago quarter. The consensus mark for revenues is pegged at $1.11 billion, suggesting an 11.7% increase from $992.7 million a year ago.
Acuity Brands Inc Price and EPS Surprise
Acuity Brands Inc price-eps-surprise | Acuity Brands Inc Quote
Factors to Note
The focus on product vitality and service levels, solid contribution from its Acuity Brands Lighting and Lighting Controls or ABL segment, benefits from recent price increases and the OSRAM DS business acquisition are likely to have driven growth for Acuity Brands during the fourth quarter of fiscal 2022.
The company is focused on investing in product development. It has been introducing new lighting and controls products and evolving certain parts of the product and solutions portfolio. These products use fewer inputs and are highly mobile. Some of the products are globally sourced, while others are manufactured in the company’s facilities to mitigate the supply-chain complexity, thereby helping in improving margins.
The company has been investing in prioritizing deliveries for customers when others have been unable to. It has been focusing on certain areas to create compelling new products that are both innovative and market-moving. These moves are likely to have contributed to fiscal fourth-quarter revenues.
Segment-wise, it remains optimistic about the ABL business. The Zacks Consensus Estimate for ABL segment revenues is currently pegged at $1,070 million, up from $1,061 million in the fiscal third quarter.
Despite higher raw materials and freight costs, along with supply-chain interruptions for electrical components, Acuity Brands’ fourth-quarter fiscal 2022 earnings are likely to have registered a year-over-year growth, given effective cost management and price increase across the portfolio.
The company has been banking on its strength in go-to-market channels and product portfolio. Its focus on service and product vitality and inorganic moves also bode well. The acquisition of a developer and manufacturer of lighting components — OSRAM’s North American Digital Systems business in July 2021 — is expected to have contributed to its top line.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for AYI this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Currently, AYI has a Zacks Rank #3 and an Earnings ESP of +0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With Favorable Combination
According to our model, here are some companies that have the right combination of elements to post an earnings beat in their respective results.
Dycom Industries, Inc. (DY - Free Report) has an Earnings ESP of +2.34% and holds a Zacks Rank #1.
DY is expected to register 34.7% growth in earnings for the to-be-reported quarter. Notably, DY reported better-than-expected earnings in all of the last four quarters, with the average surprise being 140%.
PulteGroup, Inc. (PHM - Free Report) has an Earnings ESP of +1.75% and a Zacks Rank #3.
PHM’s earnings for the to-be-reported quarter are expected to grow 51.7%. The company reported better-than-expected earnings in three of the last four quarters but missed on one occasion, with the average surprise being 5.6%.
Martin Marietta Materials, Inc. (MLM - Free Report) has an Earnings ESP of +5.19% and a Zacks Rank #3.
MLM is expected to register 14.8% growth in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in two of the trailing four quarters and missed on the other two occasions, with the average negative surprise being 8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.