Get Stock Quote Here Acuity Brands, Inc. (AYI), is an electronics manufacturing company. It was founded in 2001 and is based in Atlanta, Georgia. Acuity Brands has spun off its specialty chemicals business effective November 1, 2007. The new company is known as Zep Inc. and is traded on the NYSE under the ticker symbol ZEP. Lighting equipment made by the company includes indoor and outdoor lighting fixtures for commercial and institutional, industrial, infrastructure, and residential applications. The company offers its lighting equipment to electrical distributors, retail home improvement centers, national accounts, electric utilities, utility distributors, municipalities, contractors, catalogs, and lighting showrooms. It distributes these products through independent sales agents, factory sales representatives, distribution centers, regional warehouses, and commercial warehouses.
Acuity Brands profit lifted by acquisitions Acuity Brands Inc. AYI, reported its profit jumped 41% in its latest quarter as increased sales volume from recent acquisitions continued to bolster results. The Atlanta-based provider of lighting and energy-management products handily beat analysts' expectations, and shares rose 7.6% to $242 in premarket trading. For the quarter ended Feb. 29, the company posted earnings of $65.5 million, or $1.49 a share, up from $46.4 million, or $1.07 a share, in the prior-year period. Excluding acquisition-related costs, adjusted per-share earnings rose to $1.80 from $1.18. Revenue rose 26% to $777.8 million. Sales of LED products rose more than 40% from the year-before period and represented 55% of the quarter's sales. Analysts were expecting adjusted earnings of $1.51 a share on revenue of $752 million. Adjusted gross margin expanded to 43.5% from 41.5%. In October, Acuity agreed to acquire the Juno Electric Lighting LLC subsidiary of Schneider Electric SE (SU.FR) in a roughly $385 million deal that is expected to expand its residential and commercial lineup of lighting fixtures. The company also recently acquired business-intelligence company Geometri, a move expected to bolster Acuity's business analytics capabilities. On Wednesday, Acuity said the integration of those acquisitions "continues to go well." LINK - http://www.marketwatch.com/story/acuity-brands-profit-lifted-by-acquisitions-2016-04-06
Reported before open today (6/29/16) Earnings: EPS $2.06 Revenue $851.5M Estimates: EPS $2.03 Revenue $847.79M Up 1.57% today so far
Bad earnings a couple days ago gapped it down ~15% but it stopped at a point that has been a multiple bottom. An analyst downgraded it today, but it just went up. Look for a bounce, but this might still be shortable.
AYI is trading at low historic valuation. With revenue growth slowing down and coming to a standstill, shares have lost half their value as multiples are now in line with the market.
