Atkore International Group (ATKR) Tops Q4 EPS by 50c, Revenues Beat; Offers 1Q & FY21 EPS Guidance Above Consensus

Atkore International Group (NYSE: ATKR) reported Q4 EPS of $1.18, $0.50 better than the analyst estimate of $0.68. Revenue for the quarter came in at $477.42 million versus the consensus estimate of $430.03 million.

Fourth-Quarter Highlights

• Record quarterly net income in the fourth quarter 2020
• Net income per diluted share increased to $1.11 from $0.94; Adjusted net income per diluted share increased to $1.18 from $1.01
• Net income increased by $8.2 million to $54.2 million; Adjusted EBITDA increased by $9.4 million to $98.2 million

“Atkore delivered record earnings in the fourth quarter and for the full Fiscal Year 2020,” remarked Bill Waltz, Atkore President and Chief Executive Officer. “Our disciplined use of the Atkore Business System enabled us to effectively generate $249 million in cash from operations, strengthen our balance sheet through $40 million in debt repayment in the fourth quarter, and lower our net leverage ratio to 1.6. Despite a challenging environment caused by the COVID-19 pandemic, Atkore’s excellent commercial and operational execution drove higher margins in the fourth quarter.”

Waltz continued, “I want to thank our employees for their hard work and dedication as well as diligence to working safely during these challenging times as they served customers with quality products and exceptional service. Atkore’s culture combined with our core values enables us to consistently deliver upon our commitments. We are focused on building better together with our employees, customers, shareholders and communities in order to create an even stronger business for the future.”

GUIDANCE:

Atkore International Group sees Q1 2021 EPS of $1.15-$1.30, versus the consensus of $0.76.

Atkore International Group sees FY2021 EPS of $3.95-$4.25, versus the consensus of $3.50.

• The Company expects the first quarter of fiscal 2020 Adjusted EBITDA to be in the range of $95 - $105 million and Adjusted net income per diluted share to be in the range of $1.15 - $1.30.
• The Company expects fiscal year 2021 Adjusted EBITDA to be in the range of $340-$360 million and Adjusted net income per diluted share to be in the range of $3.95 - $4.25.

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

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