Shares of Acuity (NYSE:AYI) jumped more than 7% intra-day today after the firm posted third-quarter earnings and revenue that significantly exceeded Wall Street estimates, fueled by strong demand across its core segments.
The Atlanta-based provider of lighting and building management solutions reported adjusted earnings per share of $5.12, well above the consensus estimate of $4.30. Revenue came in at $1.2 billion, topping analyst projections of $1.15 billion.
Growth was driven by continued strength in the company’s Lighting and Spaces divisions, reflecting solid execution and healthy customer demand.
The earnings beat and positive top-line surprise sent shares sharply higher, as investors welcomed the robust performance in a generally cautious industrial sector backdrop.
