Acuity Brands: Q1 Earnings Insights
Portfolio Pulse from Benzinga Insights
Acuity Brands (NYSE:AYI) reported Q1 earnings with an EPS of $3.72, beating estimates by 15.17% but with a revenue decrease of $63.20 million from the previous year. The company had previously beaten EPS estimates last quarter, which did not affect the share price the following day.
January 09, 2024 | 11:10 am
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Acuity Brands reported a higher than expected Q1 EPS of $3.72, outperforming estimates by 15.17%, but experienced a year-over-year revenue decline.
While the EPS beat is positive, the decline in revenue could concern investors. Historical data shows last quarter's EPS beat did not move the stock price significantly the next day, suggesting a potentially muted short-term impact.
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