Street Calls of the Week
HARVEY, Illinois - Atkore Inc. (NYSE:ATKR) announced Monday it has completed the refinancing of its subsidiary’s senior secured term loan facility with a new $373 million facility that extends maturity to September 29, 2032. The company, which InvestingPro analysis shows maintains a healthy current ratio of 3.09 with liquid assets exceeding short-term obligations, continues to demonstrate strong financial management.
The new loan for Atkore International, Inc. replaces the existing facility that was scheduled to mature in May 2028. The maturity date could be adjusted to 91 days prior to the company’s existing senior notes due June 1, 2031, if more than $100 million of those notes remain outstanding at that time.
Borrowings under the new facility will bear interest at either Term SOFR (with a 0% floor) plus 2.00%, or an alternate base rate (with a 1.5% floor) plus 1.00%. The company used proceeds from the new term loan to repay the existing facility and cover related fees and expenses.
Atkore manufactures electrical products for commercial, industrial, data center, telecommunications, and solar applications. The company reported $3.2 billion in sales for fiscal year 2024 and employs approximately 5,600 people.
This information is based on a press release statement from the company.
In other recent news, Atkore International Group Inc. reported its fiscal third-quarter 2025 earnings, surpassing analysts’ expectations with an adjusted earnings per share of $1.63, compared to the forecast of $1.56. The company’s revenue was slightly above projections, coming in at $735 million versus the anticipated $734.2 million. Despite these positive earnings results, RBC Capital lowered its price target for Atkore from $83.00 to $60.00, maintaining a Sector Perform rating, due to the company’s below-consensus guidance. KeyBanc Capital Markets also downgraded Atkore from Overweight to Sector Weight, citing concerns over the company’s initial fiscal year 2026 framework and reduced expectations for its Steel Conduit business. These developments come amid the announcement of Atkore’s CEO retirement, which may have contributed to investor uncertainty.
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