Acuity Brands Q4 Earnings Beat Estimates

  • Acuity Brands, Inc. AYI reported fourth-quarter FY21 sales growth of 11.4% year-over-year to $992.7 million, beating the consensus of $963.96 million.
  • The gross margin expanded by 10 bps to 42.2%, impacted by higher material, labor, and freight costs.
  • Sales by segments: Acuity Brands Lighting and Lighting Controls $946.9 million (+11% Y/Y), Intelligent Spaces Group $50.5 million (+23.5% Y/Y).
  • Adjusted EPS improved to $3.27 from $2.35 in 4Q20, beating the consensus of $2.85.
  • The operating income increased by 25.4% Y/Y to $132.8 million, and the margin expanded by 150 bps to 13.4%. Adjusted operating margin expanded by 110 bps to 15.8%.
  • Acuity Brands generated cash from operating activities year-to-date of $408.7 million, compared to $504.8 million a year ago.
  • The company repurchased 3.8 million shares for a total of $434.9 million at an average price paid of $114 per share for the fiscal and has ~3.8 million shares remaining under its most recent share purchase authorization.
  • Recently, Credit Suisse lowered Acuity Brands Price Target to $209 (implying an upside of 18.6%) from $212 and maintained Outperform rating.
  • Price Action: AYI shares traded higher by 1.66% at $179.25 in premarket on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!