Acuity Brands Q1 Adj EPS $3.72 Beats $3.23 Estimate, Sales $934.70M Miss $935.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Acuity Brands reported Q1 adjusted EPS of $3.72, surpassing the $3.23 estimate by 15.17%, and a 13.07% increase from last year's $3.29 per share. However, sales of $934.70M slightly missed the $935.14M estimate by 0.05%, marking a 6.33% decrease from the previous year's $997.90M.
January 09, 2024 | 11:03 am
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Acuity Brands exceeded Q1 EPS estimates but slightly missed on sales, with a year-over-year decrease in revenue.
While Acuity Brands beat EPS estimates, which could be seen as a positive indicator, the slight miss on sales and the decrease in revenue compared to last year could temper investor enthusiasm. The mixed results may lead to neutral short-term price movement as the market digests both the earnings beat and the sales miss.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100