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Sep 30, 2020
Atkore Q4 2020 Earnings Report
Atkore delivered record earnings and improved margins.
Key Takeaways
Atkore International Group Inc. announced record earnings for Q4 2020, with net income increasing by $8.2 million to $54.2 million and adjusted EBITDA increasing by $9.4 million to $98.2 million. The company's disciplined use of the Atkore Business System enabled them to effectively generate $249 million in cash from operations and strengthen their balance sheet through $40 million in debt repayment.
Record quarterly net income in the fourth quarter 2020.
Net income per diluted share increased to $1.11 from $0.94; Adjusted net income per diluted share increased to $1.18 from $1.01.
Net income increased by $8.2 million to $54.2 million; Adjusted EBITDA increased by $9.4 million to $98.2 million.
The Company demonstrated its ability to effectively deploy capital by executing a share repurchase of $15 million, and completing the asset purchase of Queen City Plastics.
Atkore
Atkore
Forward Guidance
The Company expects fiscal year 2021 Adjusted EBITDA to be in the range of $340-$360 million and Adjusted net income per diluted share to be in the range of $3.95 - $4.25. The Company expects the first quarter of fiscal 2020 Adjusted EBITDA to be in the range of $95 - $105 million and Adjusted net income per diluted share to be in the range of $1.15 - $1.30.