Acuity Brands Q1 Profit Rises

(RTTNews) - Acuity Brands Inc. (AYI) reported that its net income for the first quarter ended November 30, 2020 was $59.6 million, an increase of 4.6% from the prior year. Earnings per share were $1.57 up 9.0% from the previous year.

Adjusted earnings per share were $2.03 down 4.7% from the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.84 per share. Analysts' estimates typically exclude special items.

Quarterly net sales were $792 million, a decrease of 5.1% from the prior-year period. Analysts expected revenue of $788.07 million for the quarter.

"While the recovery in the economic environment remains uncertain due to the impacts of the pandemic, we are cautiously optimistic about returning to stability in our end markets in calendar year 2021," Acuity Brands said.