5 Stocks Making Moves on Quarterly Results

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

Number of Hedge Fund Holders: 33

Acuity Brands, Inc. (NYSE:AYI) recently came into the limelight after its shares climbed to a four-year high on Wednesday, 6 October 2021. The surge was mainly driven by the company’s impressive results for its fiscal fourth quarter.

The provider of lighting and building management solutions reported adjusted earnings of $3.27 per share for the three months ended 31 August 2021, well above $2.35 per share in the year-ago quarter.

In addition, Acuity Brands, Inc. (NYSE:AYI) posted revenue of $992.7 million, translating to a surge of 11.4 percent on a year-over-year basis. The results easily surpassed the consensus forecast of $2.85 per share for earnings and $961.6 million for revenue.

Speaking on the results, CEO Neil Ashe said in a statement:

“We improved our operations and delivered solid performance in a challenging environment. We are entering fiscal 2022 from a position of strength with a diverse and capable team, who are driven by our values to deliver results for our customers, our investors and our environment.”