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Mar 29, 2024
Atkore Q2 2024 Earnings Report
Atkore's Q2 2024 financial performance reflected solid results, with net sales meeting projections and adjusted EBITDA and adjusted diluted EPS exceeding expectations.
Key Takeaways
Atkore reported a decrease in net sales by 11.5% to $792.9 million compared to the prior year. Net income decreased by 20.8% to $138.0 million, and adjusted EBITDA decreased by 23.2% to $211.9 million. The company is adjusting its full-year outlook for Adjusted EBITDA to $850 - $900 million and Adjusted net income per diluted share to $16.00 - $17.00.
Net sales decreased by 11.5% year-over-year to $792.9 million.
Net income decreased by $36.2 million year-over-year to $138.0 million.
Adjusted EBITDA decreased by $64.1 million year-over-year to $211.9 million.
Adjusted full-year outlook for EBITDA and diluted EPS was adjusted due to factors impacting HDPE and solar-related initiatives.
Atkore
Atkore
Atkore Revenue by Segment
Revenue by Segment
Electrical Revenue
CapyFin.comSafety & Infrastructure Revenue
CapyFin.com Forward Guidance
The Company is adjusting its estimate for fiscal year 2024 Adjusted EBITDA to be approximately $850 million to $900 million, and adjusting its estimate for Adjusted net income per diluted share to $16.00 - $17.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income