Categories AlphaGraphs, Earnings, Other Industries

Acuity Brands, Inc. (NYSE: AYI): Q1 2020 Earnings Snapshot

— Lighting solutions provider Acuity Brands, Inc. (NYSE: AYI) reported adjusted earnings of $2.13 per share for the first quarter of 2020, vs. $2.21 per share expected.

— Net income dropped to $57 million or $1.44 per share from $79.6 million or $1.98 per share in the first quarter of 2019

— At $834.7 million, net sales were down 10.7% from last year, vs. $874.72 million expected

— Recorded a pre-tax special charge of $6.9 million, compared to a pre-tax special charge of $1 million last year

— Borrowed the full $400 million available under the existing delayed drawdown term loan during the quarter

— Continues to expect topline headwinds associated with the pruning of products that do not meet profitability objectives

— Appoints Neil Ashe will the next President and CEO of Acuity Brands

— Spent $302 million on acquisitions during the quarter; paid dividends of over $5 million to stockholders

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Also Read:  KR Earnings: All you need to know about Kroger Q2 2020 earnings results

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related

One thought on “Acuity Brands, Inc. (NYSE: AYI): Q1 2020 Earnings Snapshot

Comments are closed.

Top