Acuity Brands (AYI) Q2 Earnings Top, Revenues Miss

Acuity Brands, Inc. (NYSE:AYI) 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 1.2% downward in the past 30 days for the current year. Meanwhile, AYI has posted positive earnings surprise in two of the past four quarters, with an average positive surprise of 1.12%.

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. The Zacks Consensus Estimate called for EPS of $2.11 per share, and the company reported EPS of $1.89 instead.

Revenues: AYI reported revenues of $832.1 million. This surpassed the consensus estimate of $800.2 million.

Stock Price Movement: Shares were down 12.4% 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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