Atkore Stock Falls 10% on Sales Miss; Cautious Outlook

Dow Jones05-08

By Emon Reiser

Shares of Atkore were on the decline after the electrical raceway products manufacturer missed analysts' sales expectations for the second quarter and adjusted its outlook for the year.

The stock decreased 10.8% to $157.31 in recent trading. Shares are down nearly 17% this quarter.

Revenue for the three months ended March 29 decreased 11.5% to $792.9 million from $895.93 million in the year-ago quarter. Results, weighed down by decreased average selling prices, missed analysts' estimate of $808.2 million.

Atkore updated its estimate for full-year adjusted earnings per share between $16 and $17, saying several factors are impacting its high-density polyethylene and solar-related initiatives. Analysts expect $17.01.

Atkore on Tuesday reported a second-quarter profit of $137.96 million, or $3.67 a share, compared with $174.19 million, or $4.31 a share in the year-ago quarter.

Adjusted for certain one-time items, Atkore's earnings were $4.08 a share, above analysts' estimates of $3.76 a share.

Write to Emon Reiser at emon.reiser@wsj.com

(END) Dow Jones Newswires

May 07, 2024 13:32 ET (17:32 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2433733584?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-08 01:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2433733584","market":"nz","top_or_hot":-1,"title":"Atkore Stock Falls 10% on Sales Miss; Cautious Outlook","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Emon Reiser \n</p>\n<pre>\n \n</pre>\n<p>\n   Shares of Atkore were on the decline after the electrical raceway products manufacturer missed analysts' sales expectations for the second quarter and adjusted its outlook for the year. \n</p>\n<p>\n  The stock decreased 10.8% to $157.31 in recent trading. Shares are down nearly 17% this quarter. \n</p>\n<p>\n  Revenue for the three months ended March 29 decreased 11.5% to $792.9 million from $895.93 million in the year-ago quarter. Results, weighed down by decreased average selling prices, missed analysts' estimate of $808.2 million. \n</p>\n<p>\n  Atkore updated its estimate for full-year adjusted earnings per share between $16 and $17, saying several factors are impacting its high-density polyethylene and solar-related initiatives. Analysts expect $17.01. \n</p>\n<p>\n  Atkore on Tuesday reported a second-quarter profit of $137.96 million, or $3.67 a share, compared with $174.19 million, or $4.31 a share in the year-ago quarter. \n</p>\n<p>\n  Adjusted for certain one-time items, Atkore's earnings were $4.08 a share, above analysts' estimates of $3.76 a share. \n</p>\n<pre>\n \n</pre>\n<p>\n   Write to Emon Reiser at emon.reiser@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 07, 2024 13:32 ET (17:32 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Atkore Stock Falls 10% on Sales Miss; Cautious Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAtkore Stock Falls 10% on Sales Miss; Cautious Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-08 01:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Emon Reiser \n\n\n \n\n\n   Shares of Atkore were on the decline after the electrical raceway products manufacturer missed analysts' sales expectations for the second quarter and adjusted its outlook for...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ATKR","symbol_name":"Atkore Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2433733584","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433733584","pubTimestamp":1715103120,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Atkore were on the decline after the electrical raceway products manufacturer missed analysts' sales expectations for the second quarter and adjusted its outlook for the year.The stock decreased 10.8% to $157.31 in recent trading. Shares are down nearly 17% this quarter.Revenue for the three months ended March 29 decreased 11.5% to $792.9 million from $895.93 million in the year-ago quarter. Results, weighed down by decreased average selling prices, missed analysts' estimate of $808.2 million.Atkore updated its estimate for full-year adjusted earnings per share between $16 and $17, saying several factors are impacting its high-density polyethylene and solar-related initiatives. Analysts expect $17.01.Atkore on Tuesday reported a second-quarter profit of $137.96 million, or $3.67 a share, compared with $174.19 million, or $4.31 a share in the year-ago quarter.Adjusted for certain one-time items, Atkore's earnings were $4.08 a share, above analysts' estimates of $3.76 a share.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ATKR":"Atkore Inc."},"translate_title":"Atkore股票因销售失误下跌10%；谨慎的观点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATKR":0.9},"content_text":"By Emon Reiser \n\n\n \n\n\n   Shares of Atkore were on the decline after the electrical raceway products manufacturer missed analysts' sales expectations for the second quarter and adjusted its outlook for the year. \n\n\n  The stock decreased 10.8% to $157.31 in recent trading. Shares are down nearly 17% this quarter. \n\n\n  Revenue for the three months ended March 29 decreased 11.5% to $792.9 million from $895.93 million in the year-ago quarter. Results, weighed down by decreased average selling prices, missed analysts' estimate of $808.2 million. \n\n\n  Atkore updated its estimate for full-year adjusted earnings per share between $16 and $17, saying several factors are impacting its high-density polyethylene and solar-related initiatives. Analysts expect $17.01. \n\n\n  Atkore on Tuesday reported a second-quarter profit of $137.96 million, or $3.67 a share, compared with $174.19 million, or $4.31 a share in the year-ago quarter. \n\n\n  Adjusted for certain one-time items, Atkore's earnings were $4.08 a share, above analysts' estimates of $3.76 a share. \n\n\n \n\n\n   Write to Emon Reiser at emon.reiser@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 07, 2024 13:32 ET (17:32 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433733584"}