Acuity Brands Inc. (AYI) released its second quarter results on Wednesday, March 31, 2021. The company reported net earnings of $1.74 per share for the second quarter ending February 28, 2021. Earnings for this past quarter were up 21 percent compared to the same period a year ago.
Acuity Brands, Inc. provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, tunnel, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems. Acuity Brands, Inc. was incorporated in 2001 and is headquartered in Atlanta, Georgia.
Acuity Brands's revenue decreased -9 percent over the past trailing twelve month period versus the previous twelve month period. Gross margins increased to 45.27% for the second quarter compared to the same period in the previous year, and operating margins increased to 11.76% over the same period. Net earnings for past trailing twelve months were $256.6 million, down -14% from the prior year.
Moving on to the balance sheet, Acuity Brands’s cash levels jumped 31% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 2.04% this past year. The current ratio for Acuity Brands now stands at 2.33. The company increased share outstanding by 0.15%.
Shares of AYI are currently trading around $165.00. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 24.62 and tangible price to book ratio of 3.09.