The 10-second takeaway
For the quarter ended Nov. 30 (Q1), Acuity Brands missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share dropped.
Margins contracted across the board.
Acuity Brands reported revenue of $481.1 million. The 12 analysts polled by S&P Capital IQ looked for sales of $498.5 million on the same basis. GAAP reported sales were 1.4% higher than the prior-year quarter's $474.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.69. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.80 per share. GAAP EPS of $0.61 for Q1 were 13% lower than the prior-year quarter's $0.70 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.4%, 140 basis points worse than the prior-year quarter. Operating margin was 10.2%, 100 basis points worse than the prior-year quarter. Net margin was 5.4%, 90 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $480.4 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $2.05 billion. The average EPS estimate is $3.49.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 195 members out of 211 rating the stock outperform, and 16 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 72 give Acuity Brands a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Acuity Brands is hold, with an average price target of $63.55.
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