Acuity Misses Estimate; Stock Price Hit VERY Hard

Update–4:00 p.m. EST–AYI closed at $123.42, a drop of $19.70, almost 14% decline in one day.
Update–3:11 p.m. EST– (AYI) is currently at $124.80, down $18.32 or 12.8%, Would be lowest close since Oct. 31, 2019, when it closed at $124.79.  On pace for largest percent decrease since Oct. 3, 2018, when it fell 13.17%
Update—9:22 a.m. EST–The Acuity Brands stock price closed on 8 JAN at $143.12. In premarket trading, it is set to open at $130.98. Developing…
Acuity Brands (NYSE:AYI) reported quarterly earnings of $2.13 per share which missed the analyst consensus estimate of $2.21 by 3.62 percent. This is a 8.19 percent decrease over earnings of $2.32 per share from the same period last year. The company reported quarterly sales of $834.7 million which missed the analyst consensus estimate of $874.72 million by 4.58 percent. This is a 10.50 percent decrease over sales of $932.6 million the same period last year.

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