Acuity Brands Inc (AYI) said before open Tuesday that it earned $3.95 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $1.1 billion, beating estimates by $30 million.
In the same quarter a year ago, the company earned $3.27 per share on revenue of $992.7 million.
The stock is up 5.37% to $168.22 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Acuity Brands Inc has performed a little above average during the past few months. Before the report, Acuity Brands Inc received a Long-Term Technical Rank by InvestorsObserver of 60, putting it in the top half of stocks. The firm set a 52-week low on June 23, 2022 at $142.71 and set a 52-week high on November 9, 2021 at $224.59.
Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting products for commercial, institutional, industrial, and residential applications. These products include luminaires, lighting controls, lighting components, and integrated lighting systems that use a combination of light sources. Customers include electrical distributors, electric utilities, retail home improvement centers, and lighting showrooms. A majority of the firms' revenue is generated in the United States.