Overview
Electrical products maker's fiscal Q1 net sales slightly beat analyst expectations
Adjusted EBITDA for fiscal Q1 decreased, primarily due to lower gross profit
Company divested Tectron mechanical tube product line to focus on core portfolio
Outlook
Company maintains fiscal year 2026 Adjusted EBITDA forecast at $340 to $360 mln
Atkore sees fiscal year 2026 Adjusted net income per share at $5.05 to $5.55
Company notes market conditions may impact fiscal year 2026 financial outlook
Result Drivers
VOLUME GROWTH - Atkore reported increased sales volume of $15.3 mln, partially offsetting the decline in net sales
DIVESTITURE IMPACT - Co divested Tectron mechanical tube product line to focus on core electrical infrastructure
OPERATIONAL IMPROVEMENTS - Safety & Infrastructure segment saw improved operational performance and cost control, boosting adjusted EBITDA
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 sales | Slight Beat* | $655.55 mln | $650.09 mln (6 Analysts) |
Q1 Net Income | $15.03 mln | ||
Q1 Gross Profit | $125.93 mln | ||
Q1 Operating income | $20.07 mln | ||
Q1 Pretax Profit | $15.50 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Atkore Inc is $64.00, about 8.6% below its February 2 closing price of $70.06
Press Release: ID:nBw27f3kfa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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