Acuity Brands hits six-year high after Q1 profit beat

Acuity

09/01/2024 16:01

** Shares of industrial technology company Acuity Brands
 AYI.N  rise 10.1% to a six-year high of $225.30, after beating
Q1 profit expectations
    ** Co reports adjusted profit of $3.72/shr, beating Street
expectations of $3.23/shr - LSEG data
    ** Profits driven by strong sales in the retail segment, and
continued performance in co' s lighting and intelligent spaces
businesses
    ** Co's revenue was largely in-line with analyst estimates;
reports $935 mln vs estimates of $935.1 mln - LSEG data 
    ** Out of 10 analysts tracking AYI, seven rate "hold" or
lower, while three rate "buy" or high
    ** Stock rose 23.6% in 2023

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com))