Acuity Brands' stock fell sharply by 9.65% during intraday trading on Thursday, as investors reacted to the company's cautious outlook for the second quarter.

The decline followed the company's indication that historical seasonality for Q2 might be "a little bit skewed" due to accelerated orders and other factors, signaling potential challenges ahead. While Acuity reported solid Q1 results, including adjusted EPS of $4.69 (vs. estimates of $4.59), traders focused on the weaker-than-expected Q2 guidance, leading to the sell-off.