Acuity Brands, Inc. (NYSE:AYI) came out with quarterly earnings Tuesday before the opening bell.
The Atlanta-based building company reported announced that fiscal 2019 third-quarter net sales increased $3.6 million, or 0.4% to $947.6 million from $944.0 million reported in the prior-year period. Operating profit for the third quarter of fiscal 2019 was $120.3 million, an increase of $12.9 million, or 12%, over the year-ago period.
Net income for the third quarter of fiscal 2019 was $88.4 million, an increase of $15.4 million, or 21.1%, compared with the prior-year period. Fiscal 2019 third-quarter diluted earnings per share (“EPS”) of $2.22 increased $0.42, or 23.3%, compared with $1.80 for the year-ago period.
Adjusted diluted EPS for the third quarter of fiscal 2019 increased 6.8% to $2.53 compared with adjusted diluted EPS of $2.37 for the year-ago period. Adjusted operating profit for the third quarter of fiscal 2019 decreased $1.8 million, or 1.3%, to $135.5 million, compared with adjusted operating profit of $137.3 million for the year-ago period.
CEO Vernon J. Nagel commented, "We are pleased to report solid third quarter financial performance in what continues to be a challenging market environment, particularly with ongoing angst generated by trade policy issues.
"Third-quarter reported diluted EPS of $2.22 rose over 23% compared with the year-ago period, while adjusted diluted EPS of $2.53 rose approximately 7% compared with the prior period, both records for our third quarter."
Shares inched up three cents to $141.02 soon after the opening bell Tuesday.
