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Acuity Brands Tumbles on Sales Miss, 'Cautiously Optimistic' Outlook

Rob Daniel

The company reiterated its demand outlook for the rest of calendar 2019. For the fiscal third quarter ended May 31, Acuity reported net income rose 21% to $88.4 million, or $2.22 a share, from $73 million, or $1.80, in the year-earlier period. The FactSet survey produced a consensus estimate of $969.5 million.