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Acuity Brands Inc. (AYI) Is Sinking Following Q4 Report

Acuity Brands Inc. (AYI) reported fourth quarter adjusted EPS of $2.68 Wednesday morning, which topped the consensus estimate of $2.62. Revenues rose 10.4% to $1.06 billion from $0.96 billion last year. Street expectations had been for revenues of $1.01 billion.

Acuity Brands gapped open sharply lower Wednesday and has continued to fall in early trade. Shares are now down 10.97 at $144.50 on above average volume. The stock has dropped to over a 1-month low.

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