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HARVEY, Ill. - Atkore Inc. (NYSE:ATKR) reported mixed second-quarter results and maintained its full-year outlook on Tuesday.
The company’s shares were down -4.78% in premarket trading following the release.
The electrical products manufacturer posted adjusted earnings per share of $2.04, beating analyst estimates of $1.58. However, revenue fell 11.5% YoY to $701.7 million, though slightly above the $698.5 million consensus.
Atkore’s net sales decline was primarily due to decreased average selling prices across its product lines, partially offset by higher sales volumes. The company’s Electrical segment saw a 16.6% revenue drop to $492.7 million, while Safety & Infrastructure revenue rose 3.4% to $209.3 million.
"Atkore delivered strong second quarter results. We grew organic volume 5% year over year," commented Bill Waltz, Atkore’s President and CEO. "The Company also realized improved productivity year over year."
For fiscal 2025, Atkore maintained its adjusted EBITDA guidance of $375 million to $425 million and adjusted EPS outlook of $5.75 to $6.85. The EPS guidance midpoint of $6.30 falls short of analysts’ $6.35 estimate.
The company also declared a quarterly cash dividend of $0.33 per share, payable on May 28, 2025.
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