Acuity Brands Inc (AYI) reported fiscal Q4 adjusted EPS of $2.55, up from $2.21 for the same period last year. This beat the $2.43 per share estimate of analysts polled by Capital IQ. Revenue for the quarter, which ended Aug. 31, was $957.6 million, versus $925.5 million last year. This missed the $975.1 million consensus from Capital IQ.
CEO Vernon Nagel commented, “We remain bullish regarding the company’s prospects for continued future profitable growth.”
“While various leading indicators continue to generally reflect favorable conditions for our end markets, we are cautious regarding a meaningful rebound in our end-markets over the next few quarters as a result of various factors, including labor shortages in the construction industry and uncertainty related to both infrastructure spending as well as federal tax and trade policies,” he said.
“…we expect the growth rate for lighting and building management solutions in the North American market, which includes renovation and retrofit activity and comprises over 97% of the company’s revenues, will be up low single-digits for fiscal 2018, reflecting an expected rebound in the second half of the year.”