Acuity Brands (AYI) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Acuity Brands reported $968.1 million in revenue for the quarter ended May 2024, reflecting a year-over-year decline of 3.2% and an EPS of $4.15, up from $3.75 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $995.41 million by 2.74%, while the EPS exceeded the consensus estimate of $4.10 by 1.22% [1] Revenue Performance - Revenues- Eliminations: Reported at -$6.10 million, better than the average estimate of -$7.32 million, representing a year-over-year change of -1.6% [2] - Revenues- Acuity Brands Lighting (ABL): Reported at $898.50 million, below the average estimate of $918.92 million, showing a year-over-year decline of 4.5% [2] - Revenues- Intelligent Spaces Group (ISG): Reported at $75.70 million, slightly below the estimated $76.42 million, but reflecting a year-over-year increase of 15.1% [2] Profit Metrics - Adjusted operating profit for Intelligent Spaces Group: Reported at $17.30 million, exceeding the average estimate of $14.25 million [2] - Adjusted operating profit for Acuity Brands Lighting: Reported at $162.10 million, slightly above the average estimate of $161.47 million [2] Stock Performance - Acuity Brands shares have returned -5.4% over the past month, contrasting with the Zacks S&P 500 composite's increase of +3.4% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]