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Intelligent lighting and space solutions provider Acuity Brands (NYSE:AYI) will be reporting results tomorrow morning. Here’s what to look for.
Acuity Brands missed analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $951.6 million, up 1.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ organic revenue estimates.
Is Acuity Brands a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Acuity Brands’s revenue to grow 13.6% year on year to $1.03 billion, a reversal from the 4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.70 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Acuity Brands has missed Wall Street’s revenue estimates six times over the last two years.
With Acuity Brands being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for electrical equipment stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Acuity Brands is down 4.4% during the same time and is heading into earnings with an average analyst price target of $335.63 (compared to the current share price of $262.17).
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