Atkore International Group (ATKR) Tops Q2 EPS by 17c, Beats on Revenues; Boosts FY18 EPS Guidance

Atkore International Group (NYSE: ATKR) reported Q2 EPS of $0.63, $0.17 better than the analyst estimate of $0.46. Revenue for the quarter came in at $445 million versus the consensus estimate of $416.11 million.

• Diluted earnings per share increased by $0.51 to $0.79; Adjusted net income per diluted share increased by $0.23 to $0.63
• Net income increased by $23.6 million to $42.6 million; Adjusted EBITDA increased by $9.2 million to $65.3 million
• Divested the assets of FlexHead Industries, Inc. and SprinkFLEX, LLC for proceeds of $42.0 million
• Full-year Adjusted net income per diluted share guidance updated to $2.40 - $2.50.

Full-Year 2018 Guidance

The Company is updating its expectation of fiscal year 2018 Adjusted EBITDA to be in the range of $250.0 - $260.0 million (includes $2 million reduction from the sale of Flexhead) and its expectation of fiscal year 2018 Adjusted net income per diluted share to be in the range to $2.40 - $2.50.

GUIDANCE:

Atkore International Group sees FY2018 EPS of $2.40-$2.50, versus the consensus of $2.02.

For earnings history and earnings-related data on Atkore International Group (ATKR) click here.

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