Acuity Brands' Intelligent Spaces Revenue Soars 15% in Mixed Q3 Results
Portfolio Pulse from Anusuya Lahiri
Acuity Brands, Inc (NYSE:AYI) reported mixed Q3 results with a 3.2% decline in net sales to $968.1 million, missing analyst estimates. However, the company beat EPS estimates with $4.15. The Intelligent Spaces Group saw a 15% revenue increase, while the overall operating margin improved. AYI stock is down 0.73% premarket.
June 27, 2024 | 12:46 pm
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NEUTRAL IMPACT
Acuity Brands reported mixed Q3 results with a 3.2% decline in net sales, missing analyst estimates, but beat EPS estimates. Intelligent Spaces Group revenue increased by 15%. The stock is down 0.73% premarket.
The mixed results with a sales miss but EPS beat create a neutral short-term outlook. The stock's premarket decline reflects investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Investors can gain exposure to Acuity Brands through the iShares Core S&P Mid-Cap ETF (IJH). The mixed Q3 results of AYI may have a minor impact on IJH.
AYI is part of the IJH ETF, but the mixed results of a single company are unlikely to significantly impact the ETF's overall performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Investors can gain exposure to Acuity Brands through the Vanguard Small-Cap ETF (VB). The mixed Q3 results of AYI may have a minor impact on VB.
AYI is part of the VB ETF, but the mixed results of a single company are unlikely to significantly impact the ETF's overall performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30