Stock Track | Acuity (AYI) Plunges 5.35% in Pre-Market on Weak Q2 Outlook
Stock Track01-08 22:04
Acuity Brands (AYI) saw its shares drop sharply by 5.35% in pre-market trading following the company's indication that its second-quarter performance could be weaker than usual.
The decline comes after Acuity mentioned that historical seasonality for Q2 might be "a little bit skewed" due to accelerated orders and other factors, signaling potential challenges ahead. While the company reported solid Q1 results, including adjusted EPS of $4.69 (vs. estimates of $4.59), traders focused on the cautious Q2 outlook, leading to the sell-off.
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