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Mar 27, 2020
Atkore Q2 2020 Earnings Report
Atkore delivered strong results with net income up compared to the prior year.
Key Takeaways
Atkore International Group Inc. reported a decrease in net sales by 2.9% to $455.7 million, primarily due to lower average selling prices and volume, but net income increased by 32.6% to $39.2 million due to higher gross profit and lower interest expense. Diluted earnings per share increased to $0.80, and adjusted net income per diluted share increased to $0.99.
Diluted earnings per share increased by $0.19 to $0.80.
Adjusted net income per diluted share increased by $0.16 to $0.99.
Net income increased by $9.6 million, or 32.6%, to $39.2 million.
Adjusted EBITDA increased by $9.9 million, or 12.9%, to $87.0 million.
Forward Guidance
The Company is currently estimating fiscal year 2020 Net Sales, Adjusted EBITDA and Adjusted net income per diluted share to be down in the range of 10% - 15% compared to fiscal year 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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