Stock Story -
Lighting and building management solutions company Acuity (NYSE:AYI) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Acuity Brands met analysts' revenue expectations last quarter, reporting revenues of $905.9 million, down 4% year on year. It was a weak quarter for the company, with a miss of analysts' organic revenue estimates.
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This quarter, analysts are expecting Acuity Brands's revenue to be flat year on year at $996.5 million, improving from the 5.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Acuity Brands has missed Wall Street's revenue estimates five times over the last two years.
With Acuity Brands being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for electrical equipment stocks.
