Acuity Brands' (AYI) Stock Rallies On Q2 Earnings Beat
Zacks Investment Research | Apr 02, 2019 11:32PM ET
Acuity Brands, Inc.’s (NYSE:AYI) shares gained almost 4% after it reported better-than-expected earnings in second-quarter fiscal 2019.
Adjusted earnings of $1.99 per share topped the Zacks Consensus Estimate of $1.79 by 11.2% and increased 5.3% on a year-over-year basis, backed by improved sales, solid margins, higher price realization and productivity gains, despite continuing inflationary cost pressures and the impact of tariffs.
Sales
Net sales during the fiscal second quarter came in at $854.4 million, missing the consensus mark of $876.9 million by 2.6%. However, the reported figure increased 2.7% year over year. The upside stemmed from a 3% increase in sales volume, and less than 1% favorable impact from acquisitions (net of divestitures). However, these positives were partially offset by a less than 1% negative impact from price/mix and the adoption of ASC 606, as well as changes in foreign exchange rates.
Acuity Brands Inc Price, Consensus and EPS Surprise
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