Acuity Brands (AYI) Q3 Earnings Surpass Estimates

Company Performance - Acuity Brands reported quarterly earnings of $4.15 per share, exceeding the Zacks Consensus Estimate of $4.10 per share, and up from $3.75 per share a year ago, representing an earnings surprise of 1.22% [1] - The company posted revenues of $968.1 million for the quarter ended May 2024, which was 2.74% below the Zacks Consensus Estimate and down from $1 billion in the same quarter last year [1] - Over the last four quarters, Acuity Brands has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [1] Stock Performance and Outlook - Acuity Brands shares have increased by approximately 17.1% since the beginning of the year, outperforming the S&P 500's gain of 14.9% [2] - The current consensus EPS estimate for the upcoming quarter is $4.26 on revenues of $1.04 billion, and for the current fiscal year, it is $15.43 on revenues of $3.88 billion [4] Industry Context - The Building Products - Lighting industry, to which Acuity Brands belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, indicating potential challenges ahead [5] - The performance of Acuity Brands may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]