Atkore Q3 Net Income Declines

(RTTNews) - Atkore (ATKR) reported that its third-quarter net income decreased 38.7%, to $123.4 million compared to $201.3 million for the prior-year period. Net income per share was $3.33 compared to $5.13. Adjusted net income per share decreased to $3.80 compared to $5.72. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $3.99, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales decreased 10.5% to $822.4 million, compared to $919.1 million, prior year. Analysts on average had estimated $830.14 million in revenue.

The company adjusted estimate for fiscal 2024 adjusted EBITDA to be approximately $772 million to $782 million, and adjusted estimate for adjusted net income per share to $14.30 - $14.52.

Shares of Atkore are down 8% in pre-market trade on Tuesday.

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