Acuity Inc. (AYI) shares plummeted 5.24% during intraday trading on Thursday following the release of the company's fiscal second-quarter 2026 results, which showed revenue that fell short of analyst expectations.

The industrial technology company reported adjusted earnings per share of $4.14, beating the consensus estimate of $4.00. However, net sales of $1.06 billion missed the $1.08 billion analysts had anticipated. The revenue shortfall was primarily attributed to weakness in the company's Acuity Brands Lighting (ABL) segment, where sales declined 2.8% year-over-year to $817.4 million.

While the Acuity Intelligent Spaces (AIS) segment showed strong growth with a 44.7% increase in sales, investors focused on the overall revenue miss. The company also recorded $6 million in special charges related to productivity improvements in the ABL segment, primarily for labor cost reductions. Despite announcing an 18% increase in its quarterly dividend to $0.20 per share, the stock declined as the sales disappointment outweighed the positive earnings performance.