April 4, 2018 / 2:00 PM / 7 months ago

BRIEF-Acuity Brands Reports Q2 Earnings Per Share $2.33

April 4 (Reuters) - Acuity Brands Inc:

* ACUITY BRANDS REPORTS FISCAL 2018 SECOND QUARTER RESULTS AND ANNOUNCES INCREASED SHARE REPURCHASE PROGRAM

* Q2 EARNINGS PER SHARE $2.33

* Q2 SALES $832.1 MILLION VERSUS I/B/E/S VIEW $799.3 MILLION

* Q2 EARNINGS PER SHARE VIEW $2.11 -- THOMSON REUTERS I/B/E/S

* BOARD OF DIRECTORS OF ACUITY BRANDS HAS AUTHORIZED REPURCHASE OF UP TO 6 MILLION SHARES

* ACUITY BRANDS INC SAYS "WE WERE DISAPPOINTED IN OUR Q2 PROFITABILITY MEASURES"

* CURRENT WEAKNESS IN LIGHTING INDUSTRY HAS CREATED A CHALLENGING ENVIRONMENT FOR CO

* EXPECT HEADWINDS IN HOME CENTER/SHOWROOM SALES CHANNEL TO CONTINUE IN NEAR TERM

* EXPECT HEADWINDS IN HOME CENTER/SHOWROOM SALES CHANNEL TO CONTINUE IN NEAR TERM

* PARTY FORECASTS, INDICATORS SUGGEST DEMAND IN NORTH AMERICAN LIGHTING MARKET WILL IMPROVE LATER IN CALENDAR 2018

* "CONTINUE TO BE CAUTIOUS AND BELIEVE OVERALL MARKET CONDITIONS COULD CONTINUE TO BE CHALLENGING FOR NEAR FUTURE"

* Q2 PROFITABILITY MEASURES IMPACTED BY UNFAVORABLE CHANGES IN PRODUCT PRICES AND MIX OF PRODUCTS SOLD

* Q2 PROFITABILITY ALSO IMPACTED BY HIGHER SELLING, DISTRIBUTION, AND ADMINISTRATIVE EXPENSES

* SOFT ORDER ACTIVITY IN CERTAIN SALES CHANNELS SUGGESTS GROWTH IN LIGHTING FIXTURE MARKET MAY REMAIN SLUGGISH FOR BALANCE OF 2018

* EXCLUDED FROM Q2 ADJUSTED EARNINGS PER SHARE WAS $0.75 BENEFIT FROM $31.2 MILLION OF NET DISCRETE ITEMS ASSOCIATED WITH TCJA

* BELIEVE PRICE OF CERTAIN LED COMPONENTS TO CONTINUE TO DECLINE THOUGHT AT DECELERATING PACE, SOME OTHER COSTS TO CONTINUE TO INCREASE

* "BELIEVE PRICE OF CERTAIN LED COMPONENTS WILL CONTINUE TO DECLINE THOUGH AT A DECELERATING PACE"

* BASED LIGHTING SOLUTIONS Source text for Eikon: Further company coverage:

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