Acuity Brands misses Street 1Q forecasts

ATLANTA (AP) _ Acuity Brands Inc. (AYI) on Monday reported fiscal first-quarter net income of $81.7 million.

The Atlanta-based company said it had profit of $1.86 per share. Earnings, adjusted for one-time gains and costs, were $2 per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.

The lighting maker posted revenue of $851.2 million in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $887.1 million.

Acuity Brands shares have risen almost 3 percent since the beginning of the year. The stock has risen 6 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AYI at https://www.zacks.com/ap/AYI

_____

Keywords: Acuity Brands, Earnings Report