5 Stocks in Focus After Releasing Their Financial Results

2. Acuity Brands, Inc. (NYSE:AYI)

Number of Hedge Fund Holders: 26

Shares of Acuity Brands, Inc. (NYSE:AYI) rose nearly four percent in the pre-market trading session on Friday, January 7, 2022, after beating profit and sales expectations for its fiscal first quarter.

Acuity Brands, Inc. (NYSE:AYI) reported adjusted earnings of $2.85 per share, ahead of analysts’ average estimate of $2.41 per share. Revenue for the quarter climbed 16.9 percent on a year-over-year basis to $926.1 million, easily surpassing the consensus forecast of $880.7 million.

Commenting on the quarter, CEO of Acuity Brands, Inc. (NYSE:AYI), Neil Ashe, said:

“Our performance demonstrates that by prioritizing customers we are driving sales growth and turning that into operating income while continuing to invest in the long-term growth and transformation of the Company.”