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 estimate for AYI has remained stable in the past 30 days. Again, AYI has posted positive earnings surprise in three of the past four quarters, with an average surprise of 4.30%.
Currently, AYI has a Zacks Rank #3 (Hold), 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 stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: AYI missed on earnings. Our consensus earnings estimate called for EPS of $2.27 per share, and the company reported EPS of $2.09 instead.
Revenues: AYI reported revenues of $925.5 million. This missed our consensus estimate of $948.26 million.
Stock Price: Shares stayed inactive during pre-market trading.
Check back later for our full write up on this AYI earnings report later.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>