Shares of Acuity ( AYI ), which rebranded from Acuity Brands last week, dropped Thursday after the industrial technology company's fiscal second-quarter revenue and profit came up short of analysts' estimates.

The firm, which uses technology to "solve problems in spaces, light and more things to come," posted GAAP earnings per share (EPS) that fell 14% year-over-year to $2.45 on net sales of $1.01 billion. Analysts polled by Visible Alpha were expecting $3.14 and $1.03 billion, respectively. Adjusted EPS of $3.73 narrowly beat estimates.

Acuity Brands Lighting segment net sales ticked 0.3% lower to $840.6 million. Acuity Intelligent Spaces sales soared more than 150% to $171.5 million, including $95.1 million from two months of results after closing its $1.2 billion acquisition of QSC, a "cloud-manageable audio, video and control platform."

Acuity adjusted its fiscal 2025 outlook in January for the impending QSC acquisition, but did not alter it Thursday.

CEO Cites 'Uncertainty in the Marketplace'

"As we look forward, there is obviously uncertainty in the marketplace specifically with regards to tariffs," CEO Neil Ashe said on the earnings call, according to a transcript provided by AlphaSense. "We approach tariffs as the equivalent of a supply shock, and our financial priorities are first to manage the dollar impact. And second, to manage the margin impact."

"Across the company, we have taken pricing actions in response to tariffs that were in place through the end of March. As the tariff policy continues to evolve, we will continue to take necessary pricing actions and we will work to accelerate our productivity efforts," Ashe said.

Acuity shares were down about 4% in recent trading. They had been slightly positive over the preceding 12 months entering Thursday, before turning lower later in the session.

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