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Sep 30, 2023
Atkore Q4 2023 Earnings Report
Atkore's Q4 2023 financial performance saw a decrease in net sales and adjusted EBITDA compared to the prior-year period, influenced by pricing normalization and solar tax credit transfers.
Key Takeaways
Atkore Inc. reported a decrease in net sales for the fourth quarter of 2023, down 15.5% to $869.9 million compared to $1,029.0 million in the prior-year period. Net income decreased by $79.9 million to $140.9 million, and Adjusted EBITDA decreased by $93.1 million to $232.0 million. The company's performance was impacted by lower average selling prices and the economic value of solar tax credits.
Net sales decreased by 15.5% due to lower average selling prices and solar tax credits.
Net income decreased by $79.9 million compared to the prior year.
Adjusted EBITDA decreased by 28.6% due to lower average selling prices over input costs.
The Board of Directors approved a new quarterly dividend program.
Revenue by Segment
Forward Guidance
The Company expects fiscal year 2024 Adjusted EBITDA to be in the range of $900-$950 million and Adjusted net income per diluted share to be in the range of $16.00 - $17.00. The Company is maintaining its fiscal 2025 Adjusted net income per diluted share target of greater than $18.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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