Acuity Brands (AYI) Q2 Earnings Top Estimates, Margins Expand

Acuity Brands, Inc. (AYI) reported impressive results in second-quarter fiscal 2024 (ended Feb 29, 2024), with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the 16th consecutive quarter.Despite a year-over-year decline in sales in the lighting business, AYI reported strong fiscal second-quarter performance driven by increased focus on margins and cash generation. This approach resulted in a higher adjusted operating profit margin and increased adjusted d ...