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Mar 31, 2023
Atkore Q2 2023 Earnings Report
Atkore delivered solid results in Q2 2023, driven by mid single-digit volume growth and strong performance in solar related products.
Key Takeaways
Atkore's Q2 2023 net sales reached $895.9 million, a decrease of 8.8% compared to the prior year. Net income was $174.2 million, with a diluted EPS of $4.31. The company is increasing its full-year Adjusted EBITDA outlook to $1,015 - $1,065 million and Adjusted EPS outlook to $17.45 - $18.35.
Net sales decreased by 8.8% year-over-year to $895.9 million.
Net income per diluted share decreased to $4.31, while adjusted net income per diluted share decreased to $4.87.
Net income decreased by $59.3 million year-over-year to $174.2 million; Adjusted EBITDA decreased by $70.1 million year-over-year to $276.0 million.
Full-year Adjusted EBITDA outlook increased to $1,015 - $1,065 million; Full-year Adjusted net income per diluted share outlook increased to $17.45 - $18.35.
Atkore
Atkore
Atkore Revenue by Segment
Revenue by Segment
Electrical Revenue
CapyFin.comSafety & Infrastructure Revenue
CapyFin.com Forward Guidance
The Company is increasing its estimate for fiscal year 2023 Adjusted EBITDA and Adjusted net income per diluted share. The Company estimates Adjusted EBITDA to be approximately $1,015 million to $1,065 million, and Adjusted net income per diluted share to be in the range of $17.45 - $18.35.
Revenue & Expenses
Visualization of income flow from segment revenue to net income