Acuity Brands, Inc. (NYSE:AYI) is expected to report lower revenue and earnings when it delivers fourth quarter results ahead of the opening bell on October 4, 2023.
The industrial technology company has been affected by a cut back in discretionary spending due to the difficult macro environment, which has impacted the company’s Acuity Brands Lighting (ABL) segment. However, that has been cushioned by higher sales at its Intelligent Space Group (ISG) division.
Despite the pressure on net sales, when the company released its 3Q results in June, it reported a seqential expansion in its operating profit margin and said cash flow remained strong.
According to Zacks Consensus Estimate, revenue for the latest quarter is likely to show an 8.3% decline to $1.02 billion, down from $1.11 billion a year ago, while earnings are expected to decrease by close to 10% to $3.57 per share.
Ahead of the results, the company’s shares were unchanged at $169.83 in early Tuesday afternoon trade.
Contact the author at stephen.gunnion@proactiveinvestors.com