Market Overview

UPDATE: Acuity Brands Posts Upbeat FQ3 Results

Related AYI
Top 4 NYSE Stocks In The Diversified Electronics Industry With The Highest ROE
Acuity Brands Q3 Profit Tops Estimates
Masco Nails Q2 Results As Home Remodelings Boom (Investor's Business Daily)

Acuity Brands (NYSE: AYI) reported a 5.7% drop in its fiscal third-quarter earnings.

Acuity's quarterly profit fell to $31.7 million, or $0.73 per share, from $33.6 million, or $0.79 per share, in the year-ago period. Excluding one –time items, its earnings rose to $0.97 from $0.82 per share.

Its sales surged 11% to $541.5 million. However, analysts were estimating earnings of $0.85 per share on revenue of $518.76 million.

Acuity's gross margin narrowed to 40.8% from 41.4%.

Acuity shares closed at $75.93 yesterday.

Posted-In: profitEarnings News


Related Articles (AYI)

Get Benzinga's Newsletters