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
Most Popular
FedEx (FDX) posts narrower loss in Q4, beats estimates
Logistics giant FedEx Corporation (NYSE: FDX) reported a narrower loss in the fourth quarter of 2020 on lesser retirement plans expense. However, in general, the results continued to show weakness
Micron Technology (MU): E-commerce, gaming and work-from-home to drive healthy demand
Micron Technology (NASDAQ: MU) reported revenue growth of 13% on a sequential basis and 14% on a year-over-year basis for the third quarter of 2020. The sequential growth in revenue
Conagra Brands (CAG) Q4 profit jumps 58% beats estimates
Conagra Brands Inc. (NYSE: CAG) reported a 58% jump in earnings for the fourth quarter of 2020 as strong e-commerce growth, significant consumer trial, and solid repeat sales, and the
One thought on “Acuity Brands, Inc. (NYSE: AYI): Q1 2020 Earnings Snapshot”
Comments are closed.