Acuity Brands (AYI) Surpasses Q2 Earnings and Revenue Estimates

Company Performance - Acuity Brands reported quarterly earnings of $3.38 per share, exceeding the Zacks Consensus Estimate of $3.11 per share, and up from $3.06 per share a year ago, representing an earnings surprise of 8.68% [1] - The company achieved revenues of $905.9 million for the quarter ended February 2024, surpassing the Zacks Consensus Estimate by 0.99%, although this is a decrease from $943.6 million in the same quarter last year [1] - Over the last four quarters, Acuity Brands has consistently surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [1] Stock Performance - Acuity Brands shares have increased approximately 27.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 9.1% [2] - The current consensus EPS estimate for the upcoming quarter is $3.78, with expected revenues of $980.97 million, and for the current fiscal year, the consensus EPS estimate is $14.77 on revenues of $3.86 billion [4] Industry Outlook - The Building Products - Lighting industry, to which Acuity Brands belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Another company in the same industry, LSI, is expected to report quarterly earnings of $0.16 per share, with revenues projected to be $105.71 million, reflecting a 10% decline from the previous year [5]