Acuity Inc.
(NYSE:AYI) stock surged more than 21% on Thursday after the industrial technology company reported fiscal third-quarter results that beat earnings expectations, driven by strong growth in its Acuity Intelligent Spaces business.
Quarterly net sales rose 1.6% year over year to $1.198 billion, topping the consensus estimate of $1.177 billion.
Adjusted earnings increased to $5.31 per share from a year earlier, beating analysts' expectations of $5.19.
Intelligent Spaces Drives Growth Acuity operates through two segments: Acuity Brands Lighting & Controls (ABL) and Acuity Intelligent Spaces (AIS).
