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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.
Atkore
Atkore
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.