BUZZ-Atkore plunges on lower FY26 profit forecast

Reuters11-20
BUZZ-Atkore plunges on lower FY26 profit forecast

** Shares of electric raceway component maker Atkore ATKR.N fall 13.3% to $57.7 premarket

** Co forecasts FY26 profit below Wall Street expectations

** Expects adj. EPS between $5.05 and $5.55, the midpoint of which is lower than analysts' average expectation of $5.48, as per LSEG data

** Also reports Q4 loss due to asset impairment

** ATKR says board considering potential sale or merger of the company

** Co also announces appointment of Franklin Edmonds to its board as part of agreement with Irenic Capital

** Irenic Capital, which holds a 2.5% stake, was urging the board to explore a sale as per a Bloomberg News report in September

** ATKR down 20.3% YTD

(Reporting by Utkarsh Tushar Hathi)

((utkarshtushar.hathi@thomsonreuters.com))

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