Acuity Brands Q2 Profit Tops Estimates; Net Sales Up 4%

(RTTNews) - Acuity Brands, Inc. (AYI) reported that its second quarter adjusted EPS increased 19 percent year-over-year. The company grew sales in both its lighting and spaces businesses, for the quarter.

Second quarter net income increased to $83.2 million from $75.3 million, last year. Earnings per share was $2.57, an increase of 20.7 percent, compared to the prior year.

Adjusted operating profit was $132.1 million in the second quarter, an increase of 7.7 percent, compared to the prior year. Adjusted earnings per share was $3.06, compared to $2.57. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $2.72, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $943.6 million, an increase of 3.8 percent from prior year. Analysts on average had estimated $958.47 million in revenue.

Acuity Brands Lighting and Lighting Controls generated net sales of $890.8 million in the second quarter, an increase of 3.2 percent. Intelligent Spaces Group generated net sales of $58.2 million, an increase of 16.4 percent.

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