Acuity Brands Down 7.7% on Weak Q2 Earnings

Acuity Brands

is trading lower on the session following its Q2 earnings announcement. The company reported an EPS of $0.57 vs $0.62 estimate and revenues of $457.7 million vs $454.72 million estimate. Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, stated, “We are pleased with our fiscal 2012 second quarter results as we continue to execute our strategies, including the introduction of new and more energy-efficient lighting solutions, to extend our leadership position in North America. The improvement in adjusted operating profit was due primarily to the benefits from higher sales volumes, price increases implemented during the prior twelve months, and productivity improvements." Acuity Brands is currently trading at $58.74, a loss of $4.91 or 7.71%.