Acuity brands reports q1 earnings per share $1.44

Acuity brands reports fiscal 2020 first quarter results.q1 adjusted earnings per share $2.13.q1 earnings per share $1.44.q1 sales $834.7 million versus refinitiv ibes estimate of $874.7 million.q1 earnings per share estimate $2.21 -- refinitiv ibes data.recorded a pre-tax special charge of $6.9 million in q1 of fiscal 2020.acuity brands - expects to achieve pre-tax savings in fiscal 2020 in excess of special charge amount.acuity brands - expect to continue to have topline headwinds associated with pruning of products, primarily in retail channel.acuity brands - expects to achieve pre-tax savings in fiscal 2020 in excess of special charge amount with most of benefit occurring in 2nd half of fiscal year..decline in fiscal 2020 q1 net sales was primarily due to a 16 percent decrease in volume."remain cautious about overall market conditions within lighting industry for remainder of fiscal 2020".acuity brands - "expect market demand for lighting products to remain sluggish until there is more clarity regarding these global trade issues".acuity brands - cautious about market conditions in lighting industry due to economic uncertainties caused by global trade issues, including tariffs.
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