Acuity Brands: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Acuity Brands (NYSE:AYI) reported Q3 earnings, beating estimated earnings by 1.08% with an EPS of $3.75 against an estimate of $3.71. However, revenue was down $61.00 million from the same period last year. Last quarter, the company beat EPS estimates but saw a 0.86% drop in share price the next day.
June 29, 2023 | 10:05 am
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NEUTRAL IMPACT
Acuity Brands beat Q3 earnings estimates but reported a decrease in revenue. Last quarter's earnings beat was followed by a share price drop.
While Acuity Brands beat earnings estimates, the decrease in revenue and the historical trend of share price drop following an earnings beat could potentially neutralize any positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100