Acuity Brands Reports Better Than Expected Q1 Results
<p><a href='https://financialmodelingprep.com/financial-summary/AYI'>Acuity Brands (NYSE:AYI)</a> reported its Q1 results, with EPS of $3.29 coming in better than the Street estimate of $3.02. Revenue was $997.9 million, compared to the Street estimate of $984.6 million.</p>
<p>Gross margin was flat year-over-year and sequentially vs. expectations for slight pressure. The company had indicated peak capitalized freight costs and metals working through inventory layers, but pricing was a bit stronger than expected and plant performance was solid. </p>
<p>Analysts at Oppenheimer expect gross margin headroom potential/likelihood in H2 on improving supply chain and electronic components procurement, which should support improved factory planning/level-loading, alongside improved cost position in inventory layers.</p>

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