Acuity Brands Shares Down 10% Despite Strong Q2 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/AYI'>Acuity Brands, Inc. (NYSE:AYI) </a>shares were trading more than 10% lower Tuesday morning, despite the company’s reported Q2 results coming in better than expected.</p>
<p>Q2 EPS was $2.57, better than the Street estimate of $2.37. Quarterly revenue rose 17% year-over-year to $909.1 million, beating the Street estimate of $884.62 million.</p>
<p>The gross margin of 41.7% was up 170 bps year-over-year, reflecting significantly higher materials and freight costs partly offset by price, volume, and ongoing product and productivity improvements.</p>

NYSE:AYI