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Feb 29, 2020
Acuity Brands Q2 2020 Earnings Report
Acuity Brands' performance declined due to lower sales volume and increased SD&A expenses, partially offset by acquisitions and favorable price/mix.
Key Takeaways
Acuity Brands reported a decrease in net sales and earnings per share for the second quarter of fiscal 2020. Net sales decreased by 3.5% compared to the prior-year period, while diluted earnings per share decreased by 13.8%. The company is managing the risks and opportunities presented by the COVID-19 pandemic and adapting the business to current market dynamics.
Second quarter net sales were $824 million, a decrease of 3.5% compared with the year-ago period.
Gross profit margin of 41.7% increased 260 basis points from the prior-year period.
Diluted earnings per share (EPS) of $1.44 declined 13.8% and adjusted diluted EPS of $1.84 declined 7.5% from the prior-year period.
Cash and cash equivalents at the end of the second quarter of fiscal 2020 totaled $381 million.
Forward Guidance
Due to demand and other uncertainties, the near-term economic impact of COVID-19 cannot be reliably quantified at this time, and the impacts on our full year fiscal 2020 results and beyond are therefore uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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