Acuity Brands (AYI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Acuity Brands reported $905.9 million in revenue for the quarter ended February 2024, reflecting a year-over-year decline of 4% while EPS increased to $3.38 from $3.06 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $897.01 million by 0.99%, and the EPS also surpassed the consensus estimate of $3.11 by 8.68% [1] Revenue Breakdown - Revenues from Eliminations were reported at -$5.70 million, better than the two-analyst average estimate of -$8.02 million, showing a year-over-year change of +5.6% [2] - Revenues from Acuity Brands Lighting (ABL) totaled $843.50 million, slightly above the two-analyst average estimate of $834.93 million, but represented a year-over-year decline of 5.3% [2] - Revenues from the Intelligent Spaces Group (ISG) reached $68.10 million, exceeding the two-analyst average estimate of $66.68 million, with a year-over-year increase of +17% [2] Profit Metrics - Adjusted operating profit for the Intelligent Spaces Group was $14.30 million, surpassing the average estimate of $10.31 million from two analysts [2] - Adjusted operating profit for Acuity Brands Lighting was reported at $136.40 million, exceeding the average estimate of $123.55 million from two analysts [2] Stock Performance - Acuity Brands shares have returned +2.1% over the past month, outperforming the Zacks S&P 500 composite's +1.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]