Overview
Industrial technology firm's fiscal Q1 net sales rose 20% yr/yr, meeting analyst expectations
Adjusted EPS for fiscal Q1 beat analyst expectations
Company repurchased shares and repaid term-loan borrowings
Result Drivers
AIS GROWTH - Acuity Intelligent Spaces segment saw a significant increase in net sales, partly due to the inclusion of QSC performance
ABL PERFORMANCE - Acuity Brands Lighting segment reported modest growth in net sales and operating profit
MARGIN IMPROVEMENT - Adjusted operating profit margin increased, particularly in the AIS segment
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Net sales | Meet | $1.14 bln | $1.14 bln (6 Analysts) |
Q1 Adjusted EPS | Beat | $4.69 | $4.59 (7 Analysts) |
Q1 EPS | $3.82 | ||
Q1 Net Income | $120.50 mln | ||
Q1 Adjusted Operating Profit | Beat | $196 mln | $184.88 mln (6 Analysts) |
Q1 Operating Profit | $160.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
Wall Street's median 12-month price target for Acuity Inc is $406.50, about 9.9% above its January 7 closing price of $369.79
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago
Press Release: ID:nGNX9VwFWt
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)