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Mar 25, 2022
Atkore Q2 2022 Earnings Report
Atkore's financial performance improved significantly, driven by increased sales and profitability.
Key Takeaways
Atkore Inc. reported a substantial increase in net sales and profitability for the second quarter of fiscal year 2022. Net sales reached $982.6 million, a 53.6% increase compared to the prior year, and net income rose to $233.5 million. The company is raising its full-year outlook for Adjusted EBITDA to $1.25 to $1.30 billion.
Net sales increased by 53.6% year-over-year to $982.6 million.
Net income per diluted share rose to $5.08, a $2.50 increase compared to the prior year.
Adjusted EBITDA increased by 79.0% year-over-year to $346.2 million.
Full-year net sales are expected to increase by approximately 25 to 30 percent compared to fiscal year 2021.
Revenue by Segment
Forward Guidance
Atkore is increasing its outlook for Adjusted EBITDA and Adjusted net income per diluted share for fiscal year 2022. The company estimates fiscal year 2023 Adjusted EBITDA to be approximately $800 million - $900 million.
Positive Outlook
- Net Sales to be up approximately 25 to 30 percent versus fiscal year 2021.
- Adjusted EBITDA to be in the range of $1,250 million to $1,3000 million.
- Adjusted net income per diluted share to be in the range of $19.65 - $20.45.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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