Why Shares of Acuity Brands Are Soaring This Week

Starting off October on an auspicious note, shares of Acuity Brands (NYSE: AYI) raced out of the gate to kick begin the new month. The lighting and building management solutions provider reported strong fiscal fourth-quarter 2024 financial results on Tuesday that led investors to believe that it was a bright idea to click the buy button.According to data provided by S&P Global Market Intelligence, shares of Acuity Brands have climbed 10.4% from the end of trading last week to the end of Thursday's trading session.Exceeding both top- and bottom-line expectations, Acuity Brands reported revenue and adjusted earnings per share (EPS) of $1.03 billion and $4.30, respectively, for the period ended Aug. 31. Analysts had expected the company would report sales of $1.02 billion and EPS of $4.28. The cash-flow statement also provided a pleasant surprise. Assisted by a 7% year-over-year increase in operating cash flow in Q4 2024, Acuity Brands enjoyed notable free-cash-flow growth for its recently completed fiscal year: $555.2 million compared to $511.4 million for fiscal 2023.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool