Transcript Highlights for Week of Sep. 28, 2026
Highlights cover memory supply and costs, consumer pricing, vehicle margins, software contracts and consulting competition.
ACUITY INC. (DE) (AYI)
Preliminary fiscal fourth-quarter sales at Acuity Intelligent Spaces rose 16.6% from the prior year.
The company said: “As Karen indicated, they probably work out to about 200 basis points of gross margin impact over the course of the year. And they basically keep operating margins flat to slightly up.”
An analyst asked: “Can you comment on if you have seen any impact from higher interest rates and higher cost inflation on project activity?”
MICRON TECHNOLOGY INC (MU)
The filing describes increased investment in technology, products and manufacturing, supported by strategic customer agreements.
The company said: “We mentioned that now, for 2027, a large part of the volume is already sold out for 2027 for HBM, and the prices are much higher than 2026 prices.”
The company said: “As we noted, in calendar 2027 as well as 2028, we see demand exceeding supply. In fact, we see greater tightness in the industry in 2027 and in 2028 versus 2026.”
MCCORMICK & CO INC (MKC)
The filing attributes third-quarter organic sales growth of 2% to pricing.
The company said: “We don't expect pricing to go negative. It certainly will be perhaps less pricing contribution than what we've seen year-to-date, but we don't anticipate it to go negative.”
An analyst asked: “should we expect pricing to turn negative in U.S. consumer as it did a couple of years ago when you were shoring up the business before?”
CARMAX INC (KMX)
Fiscal second-quarter gross profit per retail used vehicle was $2,105, down $111 from a year earlier.
The company said: “We are going to focus on driving efficiencies in COGS, in our logistics business, and so on and so forth, in order to actually not have to go with margins lower than our initial guidance.”
An analyst asked: “Why not be more aggressive there or is there some optionality to further push GPU down beyond this fiscal year if you are seeing the proper payoff in terms of unit growth?”
FACTSET RESEARCH SYSTEMS INC (FDS)
FactSet's fiscal 2027 forecast calls for organic ASV growth of 5.0%–6.5%.
The company said: “a somewhat predictable fairly large subscription base, which comes with a certain amount of volume of data or agentic capability that they can consume. Above that, you kick into volume-based tiers that then becomes consumption led.”
Accenture plc (ACN)
The filing forecasts fiscal 2027 operating margin of 15.9%–16.1%.
The company said: “When you think about pricing in 2026, it was overall stable, and at the same time, in Q4, we saw lower pricing in many areas of our business.”
An analyst asked: “Are you seeing any competitors price more aggressively to win contracts, especially larger deals, in the context of some of the changes happening around obviously becoming more agentic and just in general terms?”