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Jun 26, 2020
Atkore Q3 2020 Earnings Report
Atkore delivered solid results despite challenging economic conditions caused by the COVID-19 pandemic
Key Takeaways
Atkore International Group Inc. announced earnings for its fiscal 2020 third quarter ended June 26, 2020. Net sales decreased by $108.6 million, or 22.0%, to $384.9 million. Net income decreased by $12.5 million, or 34.1%, to $24.1 million. Diluted earnings per share was $0.49, and Adjusted net income per diluted share was $0.67.
Ending cash balance of $237.3 million
Net cash provided by operating activities of $156.0 million
Free cash flow of $130.4 million
Adjusted net income per diluted share of $0.67
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 approximately 10% compared to fiscal year 2019.