Lighting fixtures maker Acuity Brands, Inc. (AYI) reported Monday a profit for the second quarter that increased from last year, reflecting sales growth amid higher sales volumes. Adjusted earnings per share for the quarter met analysts' expectations, while quarterly revenues topped their estimates. The company said it expects overall demand in end markets to continue to improve and be more consistent and broad-based for the second half of fiscal 2013.
"We are pleased with our fiscal 2013 second quarter results as we continue to execute our strategies to extend our leadership in the North American lighting market through the introduction of new and more energy-efficient lighting solutions.......," Chairman, President and CEO Vernon Nagel said in a statement.
The Atlanta, Georgia-based company reported net income of $24.7 million or $0.57 per share for the second quarter, higher than $29.5 million or $0.46 per share in the prior-year quarter.
Excluding special items, adjusted net income for the quarter was $26.7 million or $0.62 per share, compared to $24.0 million or $0.57 per share in the year-ago quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the second quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter grew 6 percent to $486.7 million from $457.7 million in the same quarter last year, and topped thirteen Wall Street analysts' consensus estimate of $468.51 million.
The company noted that net sales growth was driven primarily by favorable trends in order rates and the continuing adoption of LED lighting solutions. It was also attributable to more than 9 percent increase in unit volume, partially offset by a net unfavorable change in prices and the mix of products sold.
Operating profit for the quarter grew to $45.1 million or 9.3 percent of net sales, from $39.0 million or 8.5 percent of net sales, in the prior-year quarter, while adjusted operating profit was $48.2 million or 9.9 percent of net sales, compared to $45.6 million or 10.0 percent of net sales, in the comparable quarter last year.
"We believe opportunities continue to exist that will allow us to continue to outperform the markets we serve. These opportunities include benefits from growing renovation and tenant improvement projects, further expansion in underpenetrated geographies and channels, and growth from the introduction of new products and lighting solutions," Nagel added.
Looking ahead, the company said its performance expectations for fiscal 2013 have not changed materially during the past quarter, with third-party forecasts and leading indicators suggesting that the North American lighting market, which includes renovation and relight activity, will increase in the mid-single digits during the remainder of our fiscal 2013.
The company added that its expectation for the second half of fiscal 2013 is that overall demand in end markets will continue to improve and be more consistent and broad-based.
In Wednesday's regular trading session, AYI is currently trading at $72.78, up $4.53 or 6.64% on a volume of 28,332 shares.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.