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Acuity Brands misses Street 1Q forecasts

ATLANTA (AP) _ Acuity Brands Inc. (AYI) on Tuesday reported fiscal first-quarter profit of $71.5 million.

On a per-share basis, the Atlanta-based company said it had profit of $1.70. Earnings, adjusted for one-time gains and costs, were $1.94 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.

The lighting maker posted revenue of $842.8 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $884 million.

Acuity Brands shares have risen 5.5 percent since the beginning of the year. The stock has dropped 22 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AYI at https://www.zacks.com/ap/AYI