Acuity Brands rises after upbeat Q1 results

Acuity

09/01/2023 14:55

** Shares of industrial technology co Acuity Brands  AYI.N 
up 4.6% at $177.6 in early trading
    ** On track for its biggest single day jump in two months,
if gains hold
    ** Co reports Q1 FY23 adj EPS of $3.29, beating analyst 
expectations of $3.01/shr - IBES Refinitiv data
    ** AYI reports Q1 net sales of $997.9 mln vs $926.1 mln a
year earlier, with strong gains in its Intelligent Spaces Group
sector
    ** Q1 net sales beat Wall Street's consensus forecast of
$984.5 mln
    ** Three of 10 brokerages rate the stock "buy" or higher,
rest going for "hold"; their median PT is $193    
    ** Stock fell 21.7% in 2022
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))