Acuity Brands Reports Fiscal 2018 Second Quarter Results and Announces Increased Share Repurchase Program

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Go back to Acuity Brands Reports Fiscal 2018 Second Quarter Results and Announces Increased Share Repurchase Program

Acuity Brands (AYI) Resumes Trading

April 4, 2018 8:53 AM EDT

Acuity Brands (NYSE: AYI) Resumes Trading

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Acuity Brands (AYI) Misses Q2 EPS by 22c, Revenue Beats; Approves 6M Share Buyback

April 4, 2018 8:42 AM EDT

Acuity Brands (NYSE: AYI) reported Q2 EPS of $1.89, $0.22 worse than the analyst estimate of $2.11. Revenue for the quarter came in at $832.1 million versus the consensus estimate of $799.28 million.

Outlook

Mr. Nagel commented, The current weakness in the lighting industry has created a challenging environment for management to drive financial performance in the short term while continuing to invest in attractive longer-term opportunities. Third-party forecasts and leading indicators suggest that demand in the North American lighting market, the Companys primary market, will improve later in calendar 2018. However, we continue to be cautious and... More