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Jun 28, 2024
Atkore Q3 2024 Earnings Report
Atkore's Q3 2024 financial performance reflected a decrease in net sales and net income compared to the prior year, driven by lower average selling prices and decreased sales volume, though the Safety & Infrastructure segment showed growth.
Key Takeaways
Atkore reported net sales of $822.4 million, a 10.5% decrease compared to the prior year, and a net income of $123.4 million, down 38.7% year-over-year. Despite challenges from a soft pricing environment and limited demand increase, the Safety & Infrastructure segment saw a 40% increase in Adjusted EBITDA. The company repurchased $125 million in shares and adjusted its full-year outlook for Adjusted EBITDA to $772 - $782 million and Adjusted net income per diluted share to $14.30 - $14.52.
Net sales decreased by 10.5% year-over-year to $822.4 million due to lower average selling prices and decreased sales volume.
Net income decreased by 38.7% year-over-year to $123.4 million, with diluted EPS at $3.33 and adjusted diluted EPS at $3.80.
Adjusted EBITDA decreased by 23.7% year-over-year to $206.1 million.
The Safety & Infrastructure segment increased Adjusted EBITDA by 40% versus the prior year.
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 $772 million to $782 million, and adjusting its estimate for Adjusted net income per diluted share to $14.30 - $14.52.
Revenue & Expenses
Visualization of income flow from segment revenue to net income