The U.S. economy has shown remarkable strength this year, culminating in the S&P 500 Index’s all-time high last week. With three consecutive weeks of gain and 12 out of 13 weeks in positive territory, Wall Street's benchmark has demonstrated resilience.Following a notable decline in the inflation rate last year, the Federal Reserve responded by initially scaling back the intensity of interest rate hikes and eventually halting them altogether in July 2023. This strategic decision contributed to an impressive ...

One stock that might be an intriguing choice for investors right now is Acuity Brands, Inc (AYI) . This is because this security in the Building Products - Lighting space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in ...

Have you been paying attention to shares of Acuity Brands (AYI) ? Shares have been on the move with the stock up 13.9% over the past month. The stock hit a new 52-week high of $231.16 in the previous session. Acuity Brands has gained 12.5% since the start of the year compared to the 49.6% move for the Zacks Construction sector and the 30.6% return for the Zacks Building Products - Lighting industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it has ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Potbelly (PBPB) : This company which, manages establishments for consuming food on premises to offers sandwiches, salads, soups, chili, chips, cookies, ice cream, and smoothies, has seen the Zacks Consensus Estimate for its current year earnings increasing 15.4% over the last 60 days.Acuity Brands (AYI) : This company which, manufactures and distributes lighting fixtures and related components, has seen the Zacks Consensus Estimate for ...

Acuity Brands, Inc. (AYI) is benefiting from innovation across its diversified product portfolio. Also, its focus on Intelligent Spaces Group (ISG) and strategic acquisitions and divestitures bode well.Recently, the company reported its first-quarter fiscal 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Although the revenues declined year over year, earnings increased. Robust ISG net sales and enhanced margins in the Acuity Brands Lighting segment drove the upside.Shares o ...

Core Insights - Acuity Brands, Inc. (AYI) reported strong first-quarter fiscal 2024 results, with earnings and revenues exceeding the Zacks Consensus Estimate, marking the 15th consecutive quarter of earnings beats [1][2] Financial Performance - Adjusted earnings per share were $3.72, surpassing the consensus estimate of $3.09 by 20.4% and increasing 13.1% from $3.29 in the prior year [2] - Net sales reached $934.7 million, exceeding the consensus mark of $924.5 million by 1.1%, although this represented a 6.3% decline year-over-year due to lower volumes [2] Segment Analysis - Acuity Brands Lighting and Lighting Controls (ABL) saw net sales decline 7.5% year-over-year to $876.4 million, while the Independent Sales Network and Direct Sales Network also experienced declines of 7.2% and 8.5%, respectively [3] - Retail sales increased by 11.4% to $55.6 million, while Corporate Accounts sales fell 15.5% to $41.5 million [3] - The Original Equipment Manufacturer and other channels reported a 16.6% decline in sales to $56.7 million [3] - Adjusted operating profit for ABL increased 10.8% to $153.8 million, with an adjusted operating margin up 280 basis points to 17.5% [3] Operating Highlights - Overall adjusted operating profit rose 9.9% to $153.9 million, with an adjusted operating margin of 16.5%, up 250 basis points year-over-year [5] - Adjusted EBITDA increased by 9% to $166.7 million compared to the previous year [5] Cash Flow and Financial Position - At the end of the fiscal first quarter, cash and cash equivalents were $513.3 million, up from $397.9 million at the end of fiscal 2023 [6] - Long-term debt remained stable at $495.7 million [6] - Cash provided by operating activities totaled $190 million, an increase from $186.6 million in the prior year, while free cash flow rose 4.2% to $175.4 million [6] - The company repurchased nearly 0.3 million shares for $50 million during the quarter [6] Fiscal 2024 Outlook - For fiscal 2024, AYI expects net sales to be in the range of $3.7 billion to $4 billion, compared to $3.95 billion reported in fiscal 2023 [7] - Adjusted earnings per share are projected to be between $13 and $14.50, compared to $14.05 in fiscal 2023 [8]

Acuity Brands, Inc. (NYSE:AYI) Q1 2024 Earnings Conference Call January 9, 2024 8:00 AM ET Company Participants Charlotte McLaughlin - VP, IR Neil M. Ashe - Chairman, President, and CEO Karen J. Holcom - SVP and CFO Conference Call Participants Joseph O'Dea - Wells Fargo Timothy Wojs - Robert W. Baird Christopher Snyder - UBS Ryan Merkel - William Blair Christopher Glynn - Oppenheimer & Co. Jeffrey Sprague - Vertical Research Jeffrey Osborne - TD Cowen Unidentified Analyst - Goldman Sachs Operator Good morn ...

STITCH from A.Light FISCAL 2024 FIRST QUARTER RESULTS FORWARD LOOKING STATEMENTS This presentation and related conference call Statements that describe or relate to the These risks and uncertainties are discussed in and webcast include “forward-looking Company’splans,goals,intentions,strategies,or ourfilingswiththeU.S.SecuritiesandExchange statements” within the meaning of Section 27A financial outlook, and statements that do not Commission, including our most recent annual of the Securities Act of 1933, as ...

Key PointsAcuity Brands shoots higher on mixed results that include better-than-expected margins. The analysts forecast a return to growth by the end of the year, with growth persisting into 2025. The dividend is small but offset by robust share repurchases that should continue through 2025. 5 stocks we like better than Acuity BrandsWith the FOMC on track to cut rates in the back half of the year and the average 30-year rate already below 7.5%, the building market will stabilize and return to growth, which ...

Delivered Net Sales of $935M, a 6% Decline Compared to the Prior YearGrew Operating Profit to $133M, up 22% Over the Prior Year; Adjusted Operating Profit of $154M, up 10% Over the Prior YearReported Diluted EPS of $3.21, up 40% Over the Prior Year; Adjusted Diluted EPS of $3.72, up 13% Over the Prior YearGenerated $190M in Cash Flow from Operations ATLANTA, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE:AYI) (the "Company"), a market-leading industrial technology company, announced net sales ...