Acuity Brands: Fiscal 1Q Earnings Snapshot
ATLANTA (AP) _ Acuity Brands Inc. (AYI) on Thursday reported fiscal first-quarter net income of $57 million.
On a per-share basis, the Atlanta-based company said it had profit of $1.44. Earnings, adjusted for one-time gains and costs, were $2.13 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The lighting maker posted revenue of $834.7 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $873.4 million.
Acuity Brands shares have risen nearly 4% since the beginning of the year. The stock has increased 19% in the last 12 months.