Atkore Inc

ATKR

Equity

ISIN US0476491081 / Valor 31850328

New York Stock Exchange, Inc (2024-09-16)

USD 85.73-0.73%

Atkore Inc
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About company

Atkore Inc is a global manufacturer known for its electrical, safety, and infrastructure solutions, with products such as Electrical Conduit and Fittings, Cable and Cable Management Systems, Infrastructure Products, and Safety and Security Products. The company is recognized by distributors and contractors worldwide as an industry leader and preferred supplier. Atkore is committed to Diversity, Equity, and Inclusion (DEI) and believes in fostering a culture of openness and innovation to ensure a more collegial, committed, and productive workforce. The company also invests in developing and supporting talent through programs like the Atkore Leadership Development Program (ALDP) for recent college graduates.

Summarized from source with an LLMView SourceSector: Technology

Net Sales

Atkore Inc. reported net sales of $822.4 million for the third quarter of 2024, a decrease of 10.5% compared to $919.1 million in the same period of the previous year. This decline was primarily due to decreased average selling prices and a slight reduction in sales volume.

Net Income

For the third quarter of 2024, Atkore Inc.'s net income decreased by $77.9 million to $123.4 million, compared to $201.3 million in the prior-year period. This significant drop was mainly attributed to lower gross profit and higher income tax expenses.

Adjusted EBITDA

Atkore Inc. reported an adjusted EBITDA of $206.1 million for the third quarter of 2024, a decrease of 23.7% from $270.3 million in the same quarter of the previous year. The decline was primarily due to lower gross profit margins.

Dividends

On July 31, 2024, Atkore Inc.'s Board of Directors declared a quarterly cash dividend of $0.32 per share of common stock. This dividend is payable on August 30, 2024, to stockholders of record as of August 20, 2024.

Full-Year Outlook

Atkore Inc. has adjusted its full-year 2024 outlook, estimating an adjusted EBITDA of approximately $772 million to $782 million. The company also revised its adjusted net income per diluted share to a range of $14.30 to $14.52, reflecting anticipated market conditions and operational performance.

Summarized from source with an LLMView Source

Key figures

-41.9%1Y

-4.71%3Y

169%5Y

Performance

42.5%1Y

46.5%3Y

58.1%5Y

Volatility