Acuity Brands Inc. shares surged more than 14% in premarket trade Tuesday, after he lighting company blew past estimates for its fiscal third quarter. The company said it had net income of $73.0 million, or $1.80 a share, in the quarter to May 31, down from income of $82.2 million, or $1.90 a share, in the year-earlier period. Adjusted per-share earnings came to $2.37, well ahead of the FactSet consensus of $2.17. Sales rose to $944.0 million from $891.6 million, also ahead of the FactSet consensus of $899 million. Sales were driven by shipments of the company's Atrius-based luminaires, as well as higher shipments of products for infrastructure and utility projects. Those items were partially offset by lower net sales for larger commercial projects, Chief Executive Vernon Nagel said in a statement. The company is expecting demand in the North American lighting market to improve in the second half, although pricing is expected to remain challenging in some parts of the market. Shares have fallen about 33% in 2018, while the S&P 500 has gained about 2%.