Acuity Brands Earnings: What To Look For From AYI
Intelligent lighting and space solutions provider Acuity Brands (NYSE:AYI) will be reporting results tomorrow before the bell. Here’s what to look for.
Acuity Brands missed analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $968.1 million, down 3.2% year on year. It was a softer quarter for the company, with a miss of analysts’ organic revenue estimates.
Is Acuity Brands a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Acuity Brands’s revenue to be flat year on year at $1.01 billion, improving from the 9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Acuity Brands has missed Wall Street’s revenue estimates six times over the last two years.
With Acuity Brands being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for electrical equipment stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.4% on average over the last month. Acuity Brands is up 10.5% during the same time and is heading into earnings with an average analyst price target of $287.68 (compared to the current share price of $271.90).
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