Signify slumps as U.S. peer's inflation, supply chain comments weigh

Acuity

06/04/2022 10:02

** Shares in Dutch lighting provider Signify  LIGHT.AS 
slumps over 5%, to the bottom of Amsterdam's blue-chip index
 .AEX , on a negative read-across from U.S. peer Acuity Brands
 AYI.N 
    ** Acuity brands  AYI.N  on Tuesday posted Q2 operating
profits 7% above consensus, but did not provide guidance for FY
22, noting inflation and supply chain uncertainties
    ** "This will raise the risk a bit for Signify" ING says,
adding that rising supply-chain issues could negatively affect
the conversion from order intake to sales
    ** "While it is not always an easy read across to Signify...
Acuity is likely to be playing a part," says Redburn analyst
Joseph Zhou, flagging Acuity comments on raw material, logistics
cost headwind and supply chain challenges which he notes may
concern some investors
    ** Acuity shares closed 8% lower on Tuesday, with Cowen and
Company pointing to the lack of guidance and vague margin
comments as well as "many moving parts on the margin front" 
    ** Including Wednesday's fall, the stock has lost about 4.6%
YTD

    

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com; +48 58 769 66 54;))