Acuity Brands (AYI) Misses Q1 EPS by 8c, Revenue Light, Offers Outlook

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Acuity Brands Reports Fiscal 2020 First Quarter Results

January 9, 2020 8:40 AM EST

ATLANTA, Jan. 09, 2020 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE: AYI) (Company) today announced fiscal 2020 first quarter net sales of $834.7 million, a decrease of 10.5 percent compared with the year-ago period.  Operating profit for the first quarter of fiscal 2019 was $83.6 million, a decrease of 28 percent compared with the year-ago period.  The decrease in operating profit was due primarily to a decline in net sales, higher share-based payment expense, and increased special charges for streamlining activities. Net income for the first quarter of fiscal 2020 was $57.0 million, a decrease of 28 percent compared with the prior-year period.  Fiscal 2020 first... More