Compared to Estimates, Acuity Brands (AYI) Q3 Earnings: A Look at Key Metrics
For the quarter ended May 2023, Acuity Brands (AYI) reported revenue of $1 billion, down 5.7% over the same period last year. EPS came in at $3.75, compared to $3.52 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of -3.51%. The company delivered an EPS surprise of +3.59%, with the consensus EPS estimate being $3.62.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Acuity Brands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Eliminations: -$6.20 million compared to the -$6.07 million average estimate based on two analysts.
Net sales- Acuity Brands Lighting: $940.70 million compared to the $982.10 million average estimate based on two analysts. The reported number represents a change of -6.7% year over year.
Revenues- Intelligent Spaces Group (ISG): $65.80 million versus $64.46 million estimated by two analysts on average.
Adjusted operating profit- Intelligent Spaces Group: $12.80 million versus $14.11 million estimated by two analysts on average.
Adjusted operating profit- Acuity Brands Lighting: $159.70 million versus the two-analyst average estimate of $150.97 million.
View all Key Company Metrics for Acuity Brands here>>>
Shares of Acuity Brands have returned +6.6% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Acuity Brands Inc (AYI) : Free Stock Analysis Report
