Acuity Brands (AYI) Misses Q2 EPS by 1c, Revenues Beat; COVID-19 Impact on FY20 Outlook 'Uncertain'
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Acuity Brands Reports Fiscal 2020 Second Quarter Results
April 2, 2020 8:39 AM EDTATLANTA, April 02, 2020 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE: AYI) (Company) today announced results for the second quarter ended on February 29, 2020. Second quarter net sales were $824 million, a decrease of 3.5% compared with the year-ago period. Gross profit margin of 41.7% increased 260 basis points from the prior-year period. Operating profit margin of 9.9% declined 130 basis points and adjusted operating profit margin of 12.3% declined 90 basis points from the prior-year period. Diluted earnings per share (EPS) of $1.44 declined 13.8% and adjusted diluted EPS of $1.84 declined 7.5% from the prior-year period. For the six months ended February 29, 2020, cash flow from operations increased $26... More
