Atkore International Group (ATKR) Tops Q2 EPS by 14c, Revenues Miss

Atkore International Group (NYSE: ATKR) reported Q2 EPS of $0.99, $0.14 better than the analyst estimate of $0.85. Revenue for the quarter came in at $455.65 million versus the consensus estimate of $459.39 million.

• Diluted earnings per share increased by $0.19 to $0.80; Adjusted net income per diluted share increased by $0.16 to $0.99
• Net income increased by $9.6 million, or 32.6%, to $39.2 million; Adjusted EBITDA increased by $9.9 million, or 12.9%, to $87.0 million
• Full-year Net Sales, Adjusted EBITDA and Adjusted net income per diluted shared expected to be down 10% - 15% compared to prior year

“I’m pleased to announce Atkore delivered strong second quarter results with net income up 32.6% compared to the prior year,” commented Bill Waltz, Atkore President and Chief Executive Officer. “Our team’s strong operational focus combined with our commitment to teamwork and collaboration enabled the strong earnings growth this quarter."

Full-Year 2020 Outlook

The Company is currently estimating fiscal year 2020 Net Sales, Adjusted EBITDA and Adjusted net income per diluted share to be down in the range of 10% - 15% compared to fiscal year 2019.

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

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