Acuity Brands up 16% on Strong Q3 Profit

Acuity Brands AYI is trading higher on the session following its Q3 earnings announcement this morning. The company reported an EPS of $0.82 vs $0.78 estimates and revenues of $487.5 million vs $491.70 million estimates. Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, said, “We are pleased with our fiscal 2012 third quarter results as we continue to execute our strategies to extend our leadership position in North America, including our record pace for the introduction of more energy-efficient lighting solutions. The improvement in adjusted operating profit was due primarily to the benefits from higher sales volumes, price increases implemented during calendar year 2011, and productivity improvements." Acuity Brands is currently trading at $59.05, a gain of $8.14 or 15.99%.