Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Acuity Brands (AYI) Beats on Q3 Earnings and Revenues

Acuity Brands, Inc. 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 downward in the past 60 days for the current quarter. Again, AYI has missed earnings in all of the past four quarters, with an average miss of 5.03%.

Currently, AYI has a Zacks Rank #2 (Buy), 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 beat on earnings. Our consensus estimate called for EPS of $1.92 per share, and the company reported EPS of $2.03 (after adjusting for non-recurring items) instead.

Acuity Brands Inc Price and EPS Surprise

Revenues: AYI reported revenues of $891.6 million. This surpassed our consensus estimate of $881.4 million.

Stock Price Movement: Shares were up 5.8% during pre-market trading session at the time of writing.

Check back later for our full write up on this AYI earnings report later.

Sell These Stocks. Now.

Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.  See today's Zacks ""Strong Sells"" absolutely free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Acuity Brands Inc (AYI): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research